The problems of “fixed-for-fixed,” fixed?

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…

Interim disclosures of new standards – make me disclose it twice, shame on you…?

Here ‘s another issue recently discussed by CPA Canada’s IFRS Discussion Group A reporting issuer prepares Q2-2018 and Q3-2018 interim financial statements for the six months and nine months ending June 30 and September 30, 2018, respectively. The reporting issuer adopts IFRS 9 and IFRS 15 on January 1, 2018, and is considering the extent…

It’s closely related, no matter how it looks!

A European example of challenges in applying one of the more complex aspects of IAS 39 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 19th edition: “The entity has entered into several…