Observations on a recent address by IASB Chair Hans Hoogervorst I’m sure Hans Hoogervorst is a capable Chair of the IASB in most respects, but his speeches – at least as published on the website – are consistently awful. A recent example delivered in Tokyo, titled “Defining Profit or Loss and OCI… can it be…
The IASB sheds more light on a key aspect of IFRS 8 Converting to IFRS didn’t create too many difficulties for most Canadian companies in the area of segment reporting, because the main points of IFRS 8 are much the same as those in old Canadian GAAP standard CICA 1701: they both build on the…
This was one of the most popular posts on my old blog, which surprised me a bit, but maybe the exam room holds nostalgic appeal for many of us… I’m no doubt misremembering, but I’d almost swear that half the exercises when I was training to be an accountant related to figuring out eliminations of…
A recent European example of issues related to the cash flow statement, and an example of applying a prominent financial instrument exemption Here’s another of the issues from some extracts of enforcement decisions recently issued by the European Securities and Markets Authority (ESMA) (for more background see here): “The issuer operates in the mining industry…
Will the “temporary exemption” allowed by IFRS 6 ever actually be lifted? The choice allowed by IFRS 6 in the area of exploration and evaluation expenses is well-known to those involved in the extractive industries; or, put another way, to any Canadian practitioner who works with smaller entities. Many Canadian entities used the transition to…
A European example of applying basic principles of financial instruments to a situation involving non-controlling interests Here’s another of the issues from some extracts of enforcement decisions recently issued by the European Securities and Markets Authority (ESMA) (for more background see here): “The issuer has a history of growth through acquisitions and frequently acquires a…
A European example of the difficulty of recognizing a deferred tax asset for unused tax losses Here’s another of the issues from some extracts of enforcement decisions recently issued by the European Securities and Markets Authority (ESMA) (for more background see here): “The issuer is a commercial bank. In the consolidated IFRS financial statements for…
The OSC has issued Staff Notice 52-722 Report on Staff’s Review of Non-GAAP Financial Measures and Additional GAAP Measures. In the OSC’s terminology, “non-GAAP financial measures are often found in public documents, such as Management Discussion & Analysis (MD&A), press releases, prospectus filings, websites and marketing materials. Additional GAAP measures presented in the financial statements…
In its recent Annual Improvements to IFRSs: 2010-2012 cycle, the IASB has returned to the IAS 24 requirement to disclose compensation paid to key management personnel. I’ve written in the past that this seems to me one of the least useful disclosures in all of IFRS – it’s very difficult to see how anything coming…
Looking at one of the most perplexing aspects of accounting for financial instruments under IFRS. For this post visit http://mnp.ca/en/media-centre/blog/2013/12/20/cash-settlement-options-for-equity-linked-conversion-features-in-convertible-debt
John Hughes IFRS Blog 