Identifying cash equivalents, or: the six-month itch

A European example of issues arising in identifying cash equivalents As part of its activities, the European Securities and Markets Authority (ESMA) organizes a forum of enforcers from 42 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…

Enhancing the cash flow statement- new amendments to IAS 7

As part of its multi-faceted disclosure initiative, the IASB has finalized its amendments to Statement of Cash Flows, effective for annual periods beginning on or after January 1, 2017. The amendment adds the following requirement: “An entity shall provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities,…