Here’s another fact pattern recently considered by CPA Canada’s IFRS Discussion Group, relating to a form of financing that’s becoming more common in Canada On December 15, 20X2, Company A completed a public offering of 1 million subscription receipts for gross proceeds of CAD$1 million (for simplicity, this example ignores transaction costs). Company A raised…
Here’s a recent fact pattern discussed by CPA Canada’s IFRS Discussion Group Company A holds a combination of common shares and preferred shares in Company B. Company A has 20 per cent voting rights of Company B through its investment in common shares. The preferred shares are non-voting but are convertible into common shares on…
Let’s now enjoy another compilation of tweets that made mention of IFRS in one way or another, presented here in all their original unedited oddity and possible offensiveness (the last edition was here). I’ve mentioned before that Twitter searches on this topic continue to be, well, infected by bulletins on Covid-driven fatality rates, often quite…
The Globe and Mail recently published an article on “Why the booming business of ESG ratings may be giving investors a false sense of sustainability” It’s written by Jeffrey Jones and David Milstead. Here are some extracts: Investors around the world are ploughing tens of billions of dollars a year into companies and funds that…
As we addressed here, IFRIC recently considered a fact pattern involving government measures that apply to entities that produce or import passenger vehicles for sale in a specified market. Under the measures, entities receive positive credits if in a calendar year they have produced or imported vehicles whose average fuel emissions are lower than a…
Let’s look at another entry from the Ontario Securities Commission’s refilings and errors list: Fire & Flower Holdings Corp….wishes to provide additional information in respect of the events and circumstances that led to the withdrawal of certain forward-looking information contained in the Company’s prior disclosure. Prior to the Company’s filing of its management discussion and…
As all readers are doubtless aware, the International Sustainability Standards Board has issued its first two exposure drafts, General Sustainability-related Disclosures and Climate-related Disclosures, both open for comment until July 29, 2022. At my usual pace of posting, I could likely devote this blog entirely for the next few years to the two exposure drafts…
Like the pandemic before it, the Russian invasion of Ukraine triggers the expected number of guidance pieces on accounting and reporting implications… These include possible impairment of various long-lived assets and financial instruments, impacts on lease and other contracts, expanded disclosure about risks and uncertainties and significant estimates and judgments, and so on. Among these…
As we covered here, the IASB has issued for comment Non-current Liabilities with Covenants, an exposure draft of proposed amendments to IAS 1, with comments to be received by March 21, 2022. The proposals would amend the current guidance on determining whether an entity has a right to defer settlement of a liability for at…
Here’s some recent news: The IFRS Foundation and Global Reporting Initiative (GRI) have announced today a collaboration agreement under which their respective standard-setting boards, the International Sustainability Standards Board (ISSB) and the Global Sustainability Standards Board (GSSB), will seek to coordinate their work programmes and standard-setting activities. The IFRS Foundation, which announced at COP26 the establishment of the ISSB…
The IASB issued for comment last year an exposure draft of proposed amendments to IFRS 16, Lease Liability in a Sale and Leaseback, with comments requested by March 29, 2021. Here’s how the accompanying news release summed it up: The International Accounting Standards Board has today proposed to amend IFRS 16 Leases by specifying how a company…
As we covered here, the IASB has issued for comment Non-current Liabilities with Covenants, an exposure draft of proposed amendments to IAS 1, with comments to be received by March 21, 2022. The proposals would amend the current guidance on determining whether an entity has a right to defer settlement of a liability for at…
Here’s an issue discussed a while ago by IFRIC: The Committee received a request about an airline’s obligation to compensate customers for delayed or cancelled flights. In the fact pattern described in the request: a) legislation gives a flight passenger (customer) the right to be compensated by the flight provider (entity) for delays and cancellations…
The Financial Times recently published an article titled – ‘Investors are shocked’: how Russia’s attack on Ukraine roiled markets Here are some extracts: The eruption of the biggest military conflict in Europe since the second world war caught many investors by surprise. Moscow’s stock market was hit by one of the biggest collapses in financial history this…
CPA Canada recently issued The Rise of the Social Pillar: An Introduction to the ‘S’ in ESG As the website sums it up: Stakeholders increasingly expect organizations to consider the impact of social matters on their business models, operations and across their value chains. Additionally, regulators and governments across the globe are looking at integrating…
John Hughes IFRS Blog 