Toward a better measurement framework, or: a road not taken

I thought it might be interesting to remind the world of T­oward a M­easurement Framework f­or Financial Reporting b­y Profit-Oriented Entities, a paper by Alex Milburn, issued in 2012 by the Canadian Institute of Chartered Accountants (now CPA Canada) As background, we know of course that IFRS employs different measurement bases for different assets and…

IFRS, climate change, and enlightened self-interest

I’ve written in the past about a June 2018 Hans Hoogervorst speech, IFRS standards as enlightened self-interest This was the key passage: Given the voluntary nature of IFRS adoption, we like to believe that the adherence to our Standards is a reflection of the quality and inclusiveness of our work. More importantly, most of our…

Costs to fulfill a contract under IFRS 15 – sufficient foundation?

IFRIC has issued for comment a draft agenda decision on costs to fulfill a contract under IFRS 15, with comments requested by May 15 I’ll post the entire text here: The Committee received a request about the recognition of costs incurred to fulfill a contract as an entity satisfies a performance obligation in the contract…

Small-scale heroics in sustainability

Notes on Hans Hoogervorst’s recent speech “on what sustainability reporting can and cannot achieve.” I have to admit I could hardly get past the speech’s astonishing opening icebreaker: First, I want to thank Professor Alan Jagolinzer of the Cambridge Judge Business School for organising this event. Alan has been an Academic Practice Fellow at the…