The Canadian Sustainability Standards Board has 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. Perhaps surprisingly, the CSSB didn’t propose any major changes to the…

The United States Securities and Exchange Commission has adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings. The final rules “reflect the Commission’s efforts to respond to investors’ demand for more consistent, comparable, and reliable information about the financial effects of climate-related risks on a registrant’s operations and how…

As we addressed previously, the IASB has issued the Exposure Draft Financial Instruments with Characteristics of Equity—Proposed amendments to IAS 32, IFRS 7 and IAS 1, with a comment deadline of March 29, 2024. We previously looked at the aspects of the exposure draft relating to the “fixed-for-fixed” criterion, settlement in an entity’s own equity instruments,…

Nowadays I think about movies much more than I do about accounting… …which might be occasionally evident from this blog (see for example here and here). A February 13, 2024 speech by SEC Chair Gary Gensler, titled “AI, Finance, Movies, and the Law,” suggests his attention is sometimes distracted along similar lines. Here are some…

The IASB has issued the Exposure Draft Financial Instruments with Characteristics of Equity—Proposed amendments to IAS 32, IFRS 7 and IAS 1, with a comment deadline of March 29, 2024. We previously looked at the aspects of the exposure draft relating to the “fixed-for-fixed” criterion and to settlement in an entity’s own equity instruments. The exposure…

“Typo in Lyft earnings sends shares aloft nearly 70%,” announced a recent CBS News story. Here’s what it had to say: The coverage on Forbes.com added the following perspective: Forbes notes for background that “according to market research firm YipitData, (Lyft) has held around 30% of the US rideshare market compared with 70% for Uber…

As helpfully summarized by the Canadian Press, “CPA Canada was created in 2013 to unify the various professional accounting organizations across the country. (The) provincial organizations are regulators and enforcers of the profession, while the national organization is responsible for standards and co-ordinates education and the common exam written by all would-be CPAs, among other…

Among other things, IFRS 8.23 requires disclosing a measure of profit or loss for each reportable segment, and provides a list of items to be disclosed about each reportable segment “if the specified amounts are included in the measure of segment profit or loss reviewed by the chief operating decision maker, or are otherwise regularly…

Let’s return to IFRIC’s recent tentative agenda decision on climate-related commitments. As we addressed here, the agenda decision states that an entity’s commitment to reduce or offset its greenhouse gas emissions could in some circumstances create a constructive obligation that meets the criteria under IAS 37 for recognizing a provision. Some commenters saw this as…

As we addressed here, the IASB has issued the Exposure Draft Financial Instruments with Characteristics of Equity—Proposed amendments to IAS 32, IFRS 7 and IAS 1, with a comment deadline of March 29, 2024. We previously looked at the aspects of the exposure draft relating to the “fixed-for-fixed” criterion. Here’s another one. IAS 32 currently contains…