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”…
More issues arising from digital currencies (on the assumption that anyone still has sufficient belief in them to be paying attention…) We’ve discussed matters relating to digital currencies a couple of times in the past (see here for instance). Here’s the fact pattern for another one, as recently discussed by CPA Canada’s IFRS Discussion Group:…
From the integratedreporting.org website, we learn that the Institute of Public Auditors in Germany (Institut der Wirtschaftsprüfer in Deutschland) has released a position paper on the future of corporate reporting. It’s only available in German, but one of the authors provides an English-language summary. We’ve covered a couple of the main points before. First is the contention that…
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…
How helpful are financial statements in the new economy? A recent blog post took off from the following premise: With only 20% of companies’ market value found in the tangible assets in the financial statements, it is no wonder companies around the world are increasingly using the International <IR> Framework to support integrated thinking and help…
It’s easy sometimes for accountants to imagine (or at least, to pretend they imagine) that the parameters of periodic corporate reporting are largely defined by those of the financial statements, with the MD&A as a tacked-on outgrowth… Most accountants are presumably aware, at least vaguely, of the conversations about integrated reporting and ESG disclosures and…
A European example of challenges in applying the concepts of IAS 38 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 19th edition: The issuer, a producer of transport equipment, acquired Entity…
The UK’s Big Innovation Centre recently released a Policy Report resulting from its “The Purposeful Company” project. The background to the report is as follows: “The Task Force is a consortium of FTSE companies, investment houses, business schools, business consultancy firms and policy makers. It has been examining how the governance and capital markets environment…
How the standards do and don’t address an emerging area of practice It’s often interesting when the standards have to be applied to a fact situation that didn’t exist, and wouldn’t reasonably have been foreseen, at the time they were developed. The Canadian IFRS Discussion Group recently addressed such a case – the accounting implications…
Another European example of issues relating to internally-generated intangible assets. 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 12th edition: “The issuer is a provider of specialist recruitment services. In its…
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