The challenges of presenting an asset or disposal group as held for sale for longer than twelve months 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 11th edition: “The issuer reported…
by John Hughes 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 15th edition: “The issuer has oil and gas exploration, development and production operations in various countries. The issuer classified licenses…
How IFRS 15 affects the accounting treatment for a common aspect of doing business As we summarized here, the IASB has issued IFRS 15, Revenue from Contracts with Customers, effective for annual reporting periods beginning on or after January 1, 2017 (NB this was subsequently amended to January 1, 2018). The standard is built around a…
by John Hughes As part of its activities, the European Securities and Markets Authority (ESMA) organizes a forum of enforcers from 30 different European jurisdictions, all of whom carry out monitoring and review programs similar to those carried out here by the Canadian Securities Administrators. ESMA recently published its 15th summary of extracts from its…
How IFRS 15 might affect the accounting for customer loyalty and similar programs As we summarized here, the IASB has issued IFRS 15, Revenue from Contracts with Customers, effective for annual reporting periods beginning on or after January 1, 2017 (NB this was subsequently amended to January 1, 2018). The standard is built around a…
Some observations on one of the core prohibitions of IFRS for first-time adopters One of the first things you learn about the mechanics of retrospectively adopting IFRS for the first time is probably the exception that relates to estimates: “an entity’s estimates in accordance with IFRSs at the date of transition to IFRSs shall be…
How IFRS 15 affects an area where issues commonly arise in practice As we summarized here, the IASB has issued IFRS 15, Revenue from Contracts with Customers, effective for annual reporting periods beginning on or after January 1, 2017 (NB this was subsequently amended to January 1, 2018). The standard is built around a five-step…
Another European example of issues relating to internally-generated intangible assets. 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 12th edition: “The issuer is a provider of specialist recruitment services. In its…
How IFRS 15 will increase disclosure requirements related to revenue As we summarized here, the IASB has issued IFRS 15, Revenue from Contracts with Customers, effective for annual reporting periods beginning on or after January 1, 2017 (NB this was subsequently amended to January 1, 2018). Not so surprisingly, even although the IASB has acknowledged…
Here’s one of the IFRS Foundation’s wackier recent endeavours, as announced at the end of September: “The IFRS Foundation has today launched an online educational quiz as a free-of-charge resource for students, educators and other interested parties to assess their knowledge of the use of IFRS, the IASB as well as the Standards themselves. The online…
John Hughes IFRS Blog 