The IASB has issued Guide to Selecting and Applying Accounting Policies – IAS 8. The stated objective, just as the title suggests, is to explain how to apply the IAS 8 requirements for selecting and applying accounting policies for transactions, other events and conditions, using material and examples that have been discussed by the IASB…
As an important public service, and before getting back to the serious stuff, it’s time now for one more selection of recent tweets that made mention of IFRS in one way or another (the last one was here), presented here as always in their original form, whatever that may yield in terms of spelling, profanity…
In a recent speech, IASB Chair Hans Hoogervorst paid tribute to the Korea Accounting Standards Board on its 20th anniversary: In the past 20 years, the KASB has developed into one of the most influential national accounting standard-setters in the Asia-Oceania region. The KASB is renowned for the quality of its technical work and has…
The biggest mistake people make in implementing IFRS, if you ask me, is to expect the worst. I’m telling you, it’s always easier than you expect. If it were me, I wouldn’t even start until a week or two before the deadline, and even then I’d take long lunch breaks. Oh wait, someone’s trying to…
Regular readers may recall that a year ago, courtesy of my mole at the IASB, and without regard for my personal safety, I broke through a never-before-penetrated wall of secrecy and published a treasure trove of correspondence to and from the office of Chair Hans Hoogervorst. Here now, obtained at equal risk, is a further…
Well, that’s it with the serious articles for this year. It’s time now for another selection of real-life tweets, identified by my large and tireless team of researchers, presented here in their original form, typos and peculiarities and obscenities intact (the last installment was here). I’ve written in the past about the seemingly endless pool…
The UK’s Financial Reporting Council has published a report on its “Thematic Review: Impairment of Non-Financial Assets.” The specific focus was on disclosures relating to such impairments. The overview was that the FRC “found numerous instances of good practice across each aspect of disclosure – events and circumstances triggering an impairment loss, description of cash…
