The Canadian IFRS Discussion Group recently returned to the issue of cloud computing arrangements, revisiting its previous discussion in the light of new IFRS 16, among other things. The group had already provided the following examples of such arrangements: Software as a service – This arrangement is a software distribution model where applications are hosted…
A European example of issues arising in applying IAS 1.85 Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA) (for more background see here); this is from their 20th edition: The issuer facilitates investments by clients who want to gain exposure…
How can investors identify purpose-led companies? asks a recent publication from A Blueprint for Better Business. This is an independent charity which says of itself: “We are not a consultancy or funded by business. We are a catalyst to help businesses be guided and inspired by a purpose that benefits society. Our work is about…
As we summarized here, the IASB has published for public comment a Discussion Paper on how companies issuing financial instruments should classify them in their financial statements. One of the best ways of getting one’s head (somewhat) around the concepts is to focus on instruments for which the proposals would generate a different classification. Here’s one: net-share…
Notes on IFRS as enlightened self-interest, a recent speech by IASB Chair Hans Hoogervorst Here’s an extract: You have probably heard of the familiar curse: ‘may you live in interesting times’. Although this proverb is usually attributed to ancient China, it is actually nowhere to be found in Chinese literature. The closest Chinese proverb I…
A European example of issues arising in presenting operating measures in the income statement Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA) (for more background see here); this is from their 22nd edition: The issuer uses the revaluation model in…
The IASB has published for public comment a Discussion Paper on how companies issuing financial instruments should classify them in their financial statements. Comments are to be received by January 7, 2019. Here’s how the accompanying news release summed up this initiative: IAS 32 Financial Instruments: Presentation currently sets out how a company that issues financial instruments should distinguish…
Let’s take a look at some other recent examples of changes resulting from the implementation of IFRS 15. This is from Freshii Inc: Of course, as in all these cases, I’m just using Freshii’s disclosure as a springboard, and not trying to comment on the company’s specific application. With that background, this seems like a…
Are traditional metrics still relevant?, asks an article on the IFRS.org website. The article summarizes some of the observations arising from a June 2018 panel debate hosted by CFA Institute and the IFRS Foundation, “asking whether traditional metrics are still relevant amidst rapid technological advancements.” The observations are grouped under the headings “hopes” and “fears”…
The European Commission has issued a consultation document Fitness Check on the EU Framework for Public Reporting by Companies, with responses requested by July 21, 2018. The objectives of the “fitness check” are as follows: 1) to assess whether the EU public reporting framework is overall still relevant for meeting the intended objectives, adds value…
John Hughes IFRS Blog 