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…
Here’s the background to another issue recently discussed by CPA Canada’s IFRS Discussion Group: Paragraph 12 of IAS 41 Agriculture states that “[a] biological asset shall be measured on initial recognition and at the end of each reporting period at its fair value less costs to sell [FVLCS], except for the case described in paragraph…
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…
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…
John Hughes IFRS Blog 