The IASB has issued Classification of Liabilities, an exposure draft of proposed amendments to IAS 1, with comments to be received by June 10, 2015. The proposals are intended to clarify “that classification of liabilities as either current or non-current is based on the rights that are in existence at the end of the reporting…
Here’s an issue recently considered by the Canadian IFRS Discussion Group: “Current Canadian tax legislation permits entities in mining or oil and gas exploration, and entities in certain emerging technologies, to issue securities to investors whereby the deductions for tax purposes related to expenditures made previously, or in the future, may be claimed by the…
Is it possible to imagine a principles-based accounting system where all the principles set out for different items perfectly align with each other…? …maybe a system where everything is measured at fair value, and all the changes go through a single measure of profit or loss? Of course, such a system would bring more measurement…
Last month, the International Accounting Standards Board (IASB) issued Measuring Quoted Investments in Subsidiaries, Joint Ventures and Associates at Fair Value, an exposure draft of proposed amendments to IFRS 10, IFRS 12, IAS 27, IAS 28 and IAS 36 and the illustrative examples which accompany IFRS 13. Comments should be submitted by January 16, 2015.…
The International Accounting Standards Board (IASB) has released its latest annual improvements to IFRSs, for the 2012-2014 cycle. To read this article, and a wide range of additional IFRS material by other writers, go to Wiley Insight IFRS at bit.ly/1v7nYXD (subscription required, but free trial available)
by John Hughes Well, the final version of IFRS 9 Financial Instruments has finally been issued, effective for financial years beginning on or after January 1, 2018. These are some of the Standard’s headline achievements, as summed up in the IASB’s press release: Impairment During the financial crisis, the delayed recognition of credit losses on…
A European example of problems in derecognizing financial instruments Here’s another of the issues from some extracts of enforcement decisions recently issued by the European Securities and Markets Authority (ESMA) (for more background see here): “In 2011, the issuer granted a loan to its ultimate parent through a facility agreement and arranged issuance of preferred…
The IASB has released its latest exposure draft of annual improvements to IFRSs, with comments to be received by March 13, 2014 To obtain this post, and additional articles on IFRS by other writers, go to http://ifrs.wileyvws.com/ifrs-news-and-resources/ (free sign-up required)
A recent European example of issues related to the cash flow statement, and an example of applying a prominent financial instrument exemption Here’s another of the issues from some extracts of enforcement decisions recently issued by the European Securities and Markets Authority (ESMA) (for more background see here): “The issuer operates in the mining industry…
Looking at one of the most perplexing aspects of accounting for financial instruments under IFRS. For this post visit http://mnp.ca/en/media-centre/blog/2013/12/20/cash-settlement-options-for-equity-linked-conversion-features-in-convertible-debt
John Hughes IFRS Blog 