Notes on IFRS as enlightened self-interest, a recent speech by IASB Chair Hans Hoogervorst Here’s an extract: You have probably heard of the familiar curse: ‘may you live in interesting times’. Although this proverb is usually attributed to ancient China, it is actually nowhere to be found in Chinese literature. The closest Chinese proverb I…
A European example of issues arising in presenting operating measures in the income statement Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA) (for more background see here); this is from their 22nd edition: The issuer uses the revaluation model in…
The IASB has published for public comment a Discussion Paper on how companies issuing financial instruments should classify them in their financial statements. Comments are to be received by January 7, 2019. Here’s how the accompanying news release summed up this initiative: IAS 32 Financial Instruments: Presentation currently sets out how a company that issues financial instruments should distinguish…
Let’s take a look at some other recent examples of changes resulting from the implementation of IFRS 15. This is from Freshii Inc: Of course, as in all these cases, I’m just using Freshii’s disclosure as a springboard, and not trying to comment on the company’s specific application. With that background, this seems like a…
Are traditional metrics still relevant?, asks an article on the IFRS.org website. The article summarizes some of the observations arising from a June 2018 panel debate hosted by CFA Institute and the IFRS Foundation, “asking whether traditional metrics are still relevant amidst rapid technological advancements.” The observations are grouped under the headings “hopes” and “fears”…
The European Commission has issued a consultation document Fitness Check on the EU Framework for Public Reporting by Companies, with responses requested by July 21, 2018. The objectives of the “fitness check” are as follows: 1) to assess whether the EU public reporting framework is overall still relevant for meeting the intended objectives, adds value…
To celebrate the arrival of summer, it’s time now for another round-up (the last one was here) of recent tweets that made mention of IFRS in some form, presented here in their original form, with all typos and oddities and occasional obscenities attached. Since I last did this, the Twitter character limit rose from 140 to…
A European example of issues arising in interpreting the definition of an investment entity Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA) (for more background see here); this is from their 20th edition: The issuer, a savings bank… held 48.3%…
Let’s take a look at some other recent examples of changes resulting from the implementation of IFRS 15. This is from Reitmans (Canada) Limited: As we’ve discussed before, for purposes of the first issue, the stand-alone selling price is the price at which an entity would sell a promised good or service separately to a…
Let’s take a look at another aspect of the IASB’s recently issued revised conceptual framework for financial reporting. Here are some brief extracts from the document: Information about the nature and amounts of a reporting entity’s economic resources and claims can help users to identify the reporting entity’s financial strengths and weaknesses. That information can…
John Hughes IFRS Blog 