As we discussed here, the IASB has published for public consultation proposals to improve the Conceptual Framework for Financial Reporting, with comments to be received by October 26, 2015. Here are some extracts from the proposals: “The concepts of capital (proposed in the document) give rise to the following concepts of capital maintenance: (a) Financial capital…
CPA Canada has issued Five Steps to Simplifying Financial Statements – Today, written by Alex Fisher and me… …(but if you’ve had enough of me from this blog, just forget those last two words and proceed on the assumption Alex wrote the whole thing!). The publication “sets out a principled five-step approach to simplifying financial…
CPA Canada and the Canadian Investor Relations Institute recently issued Interim Reporting Strategies, a discussion brief. The document sums up the interim reporting landscape like this: “The content for interim reporting is less fully defined than that for annual reporting. Although both IFRSs and Canadian securities law contain specific requirements for the content of interim…
As we discussed here, the IASB has published for public consultation proposals to improve the Conceptual Framework for Financial Reporting, with comments to be received by October 26, 2015. A couple of the IASB members dissented on various points, some of which I covered in previous posts. Here’s another one: “Mr Finnegan believes the Exposure…
Some European observations on the quality of compliance with aspects of IFRS 3 As we discussed here, the IASB recently completed its post-implementation review of IFRS 3 Business Combinations. If that’s not enough insight into the state of things with this standard, you can also look to the ESMA Report on Enforcement and Regulatory Activities…
As we discussed here, the IASB has published for public consultation proposals to improve the Conceptual Framework for Financial Reporting, with comments to be received by October 26, 2015. Here’s one of the proposed new passages: “Information about how efficiently and effectively the entity’s management has discharged its responsibilities to use the entity’s resources helps…
Comments on recent remarks by IASB Chair Hans Hoogervorst As we discussed here, a large chunk of the IASB’s recent proposals to amend the conceptual framework deals with measurement, stating: “consideration of the objective of financial reporting, the qualitative characteristics of useful financial information and the cost constraint is likely to result in the selection…
As we discussed here, the IASB has published for public consultation proposals to improve the Conceptual Framework for Financial Reporting, with comments to be received by October 26, 2015. As you’d expect, a large chunk of the proposals deals with measurement, noting: “consideration of the objective of financial reporting, the qualitative characteristics of useful financial…
The IASB recently completed its Post-implementation Review of IFRS 3 Business Combinations. This is how the news release summed up the exercise: “It shows general support for the accounting requirements in the Standard but identifies some areas where further research will be undertaken, including accounting for goodwill. The IASB conducts Post-implementation Reviews (PIR) of its…
As we discussed here, the IASB has published for public consultation proposals to improve the Conceptual Framework for Financial Reporting, with comments to be received by October 26, 2015. As at present, the proposal sets out faithful representation as a fundamental qualitative characteristic of financial information – that is: “Financial reports represent economic phenomena in…
John Hughes IFRS Blog 