Cloud computing arrangements – from both sides now

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…

Hey, financial statements – this thing between us just isn’t working out!

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…

Intangible assets: fuzzy science

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…

IFRS touches the clouds!

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…