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…

IFRS in the new world – hopes and fears

Are traditional metrics still relevant?, asks an article on the IFRS.org website. The article summarizes some of the observations arising from a June 2018 panel debate hosted by CFA Institute and the IFRS Foundation, “asking whether traditional metrics are still relevant amidst rapid technological advancements.”  The observations are grouped under the headings “hopes” and “fears”…

IFRS – is the world still yours?

The European Commission has issued a consultation document Fitness Check on the EU Framework for Public Reporting by Companies, with responses requested by July 21, 2018. The objectives of the “fitness check” are as follows: 1) to assess whether the EU public reporting framework is overall still relevant for meeting the intended objectives, adds value…

IFRS 15 in action – part 5: some retail issues

Let’s take a look at some other recent examples of changes resulting from the implementation of IFRS 15. This is from Reitmans (Canada) Limited: As we’ve discussed before, for purposes of the first issue, the stand-alone selling price is the price at which an entity would sell a promised good or service separately to a…