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: When I go to a baseball game, I want to see runs scored, preferably via the long ball. However, some…

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: the costs of applying the impairment requirements and auditing and enforcing their application are not significantly greater than expected. They note along the…

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 design of the impairment test can shield goodwill from…

The New York Times recently published a piece titled Dilemma on Wall Street: Short-Term Gain or Climate Benefit? It’s written by Lydia DePillis. Here are some extracts: A team of economists recently analyzed 20 years of peer-reviewed research on the social cost of carbon, an estimate of the damage from climate change. They concluded that the average…

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…

As a special warm weather treat, it’s time now for another in our long-running series of extracts from real-life tweets (as they used to be called – I suppose I should now say “posts on X,” or some comparable absurdity) that made some mention of IFRS, presented here in their original form, all oddity and…

You’ll recall that following amendments to IAS 1 in 2022, an entity classifies a liability as current when, among other things, it does not have the right at the end of the reporting period to defer settlement of the liability for at least twelve months after the reporting period. The standard specifies that if the right to defer…