As we covered here, the IASB has issued Climate-related and Other Uncertainties in the Financial Statements, an exposure draft of proposed illustrative examples. The exposure draft “proposes eight examples illustrating how an entity applies the requirements in IFRS Accounting Standards to report the effects of climate-related and other uncertainties in its financial statements (in the…

Returning to our recent reflections on the portrayal of accountants in movies and television… You may recall that Toby York, founder of The Accounting Café, had posted the following on LinkedIn: A partial answer to the question arises from the ongoing third season of Industry, a show set around Pierpoint & Co., a London investment…

As we addressed here, the Canadian Sustainability Standards Board issued for comment its first two proposed standards. These are proposed Canadian Sustainability Disclosure Standard (CSDS) 1 General Requirements for Disclosure of Sustainability-related Financial Information  and CSDS 2 Climate-related Disclosures, built on the pre-existing IFRS S1 and S2; the CSSB didn’t propose any major changes to…

The IASB has issued Climate-related and Other Uncertainties in the Financial Statements, an exposure draft of proposed illustrative examples. The exposure draft “proposes eight examples illustrating how an entity applies the requirements in IFRS Accounting Standards to report the effects of climate-related and other uncertainties in its financial statements (in the expectation) that these illustrative…

As we discussed here, in March 2024 the IASB published for comment the Exposure Draft Business Combinations—Disclosures, Goodwill and Impairment. Let’s look at one last aspect of the reaction to the exposure draft. As we covered here, the exposure draft includes proposals for additional disclosure requirements addressing, for so-called “strategic” business combinations, objectives and related performance…

Canadian Accountant recently published some material on the voting preferences of accountants. That was on July 21, which probably still counts as recent, but the article already feels like something of a historical artifact, given Biden’s subsequent withdrawal from the race and the astounding revitalization of the Democratic campaign. Anyway, here’s what it had to…

As we discussed here, in March 2024 the IASB published for comment the Exposure Draft Business Combinations—Disclosures, Goodwill and Impairment. As we previously covered, the exposure draft rejected some of the more ambitious ideas mooted in the past, such as reintroducing amortization of goodwill, focusing instead on fine-tuning the methodology for impairment testing and introducing additional…

Let’s return to the Inside Standard Setting newsletter of the Chair of Canada’s Accounting Standards Board, Armand Capisciolto. The author’s obvious love of baseball is becoming a rather charming recurring element. Here’s a recent example: In Capisciolto’s hands, such potentially dodgy analogies seem happily unstrained, lyrical even. My own knowledge of baseball would fit onto…

The International Accounting Standards Board (IASB) recently concluded its Post-implementation Review of the impairment requirements in IFRS 9 Financial Instruments—Impairment and published a Project Summary and Feedback Statement. Here’s the summary of conclusions: They note along the way: “Many preparers said the principles allow them to align the approaches to assessing significant increases in credit risk…

As we discussed here, in March 2024 the IASB published for comment the Exposure Draft Business Combinations—Disclosures, Goodwill and Impairment. In the exposure draft, the IASB (among other things) addressed some reasons for concerns that impairment losses on goodwill are sometimes being recognized too late, including: The exposure draft proposes amending IAS 36 to clarify that…