In a recent post, I wrote a little bit about the integrated reporting (<IR>, as it styles itself) initiative, very much from the perspective of someone dipping an initial toe into the water. I mentioned that the initiative’s website contains samples of reports prepared with reference to the <IR> framework, and it’s interesting from many…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already discussed some of the issues arising in identifying at inception of a contract whether that contract is a lease, or contains a lease, in determining the lease term, and in measuring the lease…
The IASB has issued Definition of a Business and Accounting for Previously Held Interests, an exposure draft of proposed amendments to IFRS 3 and IFRS 11, with comments to be received by October 31, 2016 IFRS 3 defines a business as “an integrated set of activities and assets that is capable of being conducted and…
Notes on a recent speech by IASB Chair Hans Hoogervorst Here’s how the accompanying news release summed it up: “Mr Hoogervorst stated that the completion of several big IFRS Standards now allows the Board to focus its efforts on increasing the communication effectiveness of financial statements. He intends to prioritise the theme of ‘Better Communication’…
The IASB has issued amendments to IFRS 2, Classification and Measurement of Share-based Payment Transactions. I previously wrote about the exposure draft here – the proposals haven’t changed too much on the way to finalization. The issues addressed by the amendments are quite specific, but many of us will have encountered at least the first item…
Of all the reasons to worry about the UK’s staggeringly reckless “Brexit” decision, the potential impact on IFRS probably wouldn’t rank too highly… At the very least though, it’s not good news for the IFRS Foundation and its activities. On the symbolic level alone, such a major statement against the free flow of capital and…
The Trustees of the IFRS Foundation have completed their most recent review of the Foundation’s structure and effectiveness They proposed a range of enhancements, impressively positioned as ensuring that “the organization remains fit for a changing world.” Here’s how the press release summed up the process and some of what came out of it: “The latest…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve already covered in various posts the main aspects of the accounting model for lessees, and last time we looked at some of the mechanics of making the transition to the new standard. As we discussed,…
As we discussed here, the IASB has issued IFRS 16 Leases, effective for annual reporting periods beginning on or after January 1, 2019. We’ve covered the main aspects of the accounting model for lessees in various previous posts. Let’s look now at the mechanics of making the transition to the new standard. As a practical…
Many of us have probably heard the term “integrated reporting” here and there without thinking much about what it specifically refers to, or trying to find out more… Until fairly recently, I was in that group myself. But I thought it might be useful to look at the concept (or “movement,” as it sometimes refers…
John Hughes IFRS Blog 