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FR International News
April 2024 IASB podcast available
30 Apr 2024
The topics discussed include the launch of a comprehensive review into Intangible Assets; developments in the Climate-related and Other Uncertainties in the Financial Statements project; and the finalised Agenda Decision on net-zero commitments.
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FR International News
April 2024 IASB Update available
29 Apr 2024
Topics discussed include Post-implementation Review of IFRS 15, Post-implementation Review of IFRS 9—Impairment, Climate-related Commitments (IAS 37) and Climate-related and Other Uncertainties in the Financial Statements.
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FR International News
IASB launches comprehensive review of accounting for intangibles
23 Apr 2024
The project will assess whether the requirements of IAS 38 Intangible Assets remain relevant and continue to fairly reflect current business models or whether the IASB should improve the requirements. The initial research and planning phase aims to define the scope of issues to be explored in the project and will explore the best approach to plan and organise the work.
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FR International News
IASB concludes project on Business Combinations under Common Control
17 Apr 2024
A business combination under common control (BCUCC) is a type of business combination. In a BCUCC, the combining entities are ultimately controlled by the same party before and after the combination. IFRS 3 Business Combinations does not address the accounting of a BCUCC and this has led to diversity in reporting and disclosure practices. To address this, the IASB researched on whether to develop reporting requirements. After considering the research findings, the IASB decided to discontinue its work on the project as any improvements to financial reporting that might result from developing the reporting requirements are likely to be outweighed by the costs of developing and implementing such changes. The project summary provides further information about this decision.
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FR International News
April 2024 International Accounting Standards Board agenda and meeting papers available
12 Apr 2024
For the IASB meeting held on 22 – 25 April 2024, topics discussed include analyses of feedback from Post-implementation Reviews of IFRS 15 and IFRS 9 (Impairment), proposals to improve reporting of climate-related and other uncertainties in the financial statements, and redeliberation of proposals in the IFRS for SMEs Accounting Standard.
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FR International News
New IFRS Accounting Standard will aid investor analysis of companies’ financial performance
09 Apr 2024
IASB has issued IFRS 18 Presentation and Disclosure in the Financial Statements that will replace the IAS 1 Presentation of Financial Statements. It introduces new requirements for presentation and disclosures in the financial statements and will be effective for annual reporting periods beginning on or after 1 January 2027 with early application permitted.
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FR International News
April 2024 IFRS for SMEs Accounting Standard Update available
05 Apr 2024
This edition of the Update includes an overview of the proposals in the Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard; and an update on the IASB redeliberations of proposals in the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard (2022 Exposure Draft).
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FR International News
Q1 2024 IFRS Interpretations Committee podcast available
03 Apr 2024
In this podcast, IFRS Interpretations Committee Chair and IASB member Bruce Mackenzie shared on IFRIC’s decisions made at its March 2024 meeting on climate-related commitments in IAS 37 and payments contingent on continued employment during handover periods (IFRS 3).
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FR International News
IFRS Foundation publishes IFRS Accounting Taxonomy 2024
27 Mar 2024
The IFRS Accounting Taxonomy enables electronic reporting of financial information prepared in accordance with IFRS Accounting Standards. IFRS Accounting Taxonomy 2024 is based on IFRS Accounting Standards as at 1 January 2024, including those issued but not yet effective. It incorporates changes made to IFRS Accounting Taxonomy 2023 which resulted from amendments made to IFRSs.
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FR International News
March 2024 IASB Update available
26 Mar 2024
Topics discussed include Post-implementation Review of IFRS 15, Climate-related and Other Uncertainties in the Financial Statements, Post-implementation Review of IFRS 9—Impairment and Power Purchase Agreements.