As we discussed here, the IASB has issued for comment its long-awaited exposure draft General Presentation and Disclosures, with comments to be received by June 30, 2020. One of the proposals’ most headline-grabbing aspects is the new concept of “management performance measures,” defined as: subtotals of income and expenses that: (a) are used in public…
I don’t dive into the technicalities of deferred tax too often in this space, because, you know, it’s nice to keep at least a handful of readers… But let’s make an exception today, courtesy of this fact pattern recently considered by IFRIC: an entity acquires an intangible asset with a finite useful life (a licence)…
As I write this post, the so-called “coronavirus” provides a rather depressing illustration of the fragility of many things, not least the hopes for rational long-term investing. While every day provides additional speculation on the financial impact, here are a few snippets from the past couple of weeks. (Thomson Reuters) (Finance Minister Bill) Morneau told…
As we discussed last time, the IASB has issued for comment its long-awaited exposure draft General Presentation and Disclosures, with comments to be received by June 30, 2020. Here’s one of the proposed new sections: Unusual income and expenses are income and expenses with limited predictive value. Income and expenses have limited predictive value when…
The IASB has issued for comment its long-awaited exposure draft General Presentation and Disclosures, with comments to be received by June 30, 2020. It’ll take a number of articles to cover all the main points. To start off with, let’s take the following proposal: The Exposure Draft proposes that an entity present the following new…
The IASB has issued Classification of Liabilities as Current or Non-Current, amendments to IAS 1. The amendments are to be applied retrospectively for annual reporting periods beginning on or after January 1, 2022 – earlier application is permitted. The extended application date responds to the possibility that changes in classification as a result of the…
I wrote a while ago about accounting issues relating to football (or, if you prefer, soccer), prompted by a PWC publication Accounting for typical transactions in the football industry: Issues and solutions under IFRS. I noted at the time that “I was certainly surprised that a sufficient readership exists for such a seemingly narrowly-targeted publication”…
