A European example of interpreting one of the key concepts in measuring fair values under IFRS 13 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 16th edition: “The issuer is a…
As we discussed here, the IASB has issued its exposure draft of clarifications to IFRS 15, with comments to be received by October 28, 2015. The standard is built around a five-step framework, including the key step of identifying the performance obligations in a contract. You’ll recall the definition of a performance obligation: A promise…
A European example of non-disclosure in an often important area 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 11th edition: “The issuer is an offshore services company which operates on a…
As we discussed here, the IASB has issued its exposure draft of clarifications to IFRS 15, with comments to be received by October 28, 2015. The standard is built around a five-step framework, including the key step of identifying the performance obligations in a contract – that is, all the promises in a contract to…
As we discussed here, the IASB has published for public consultation proposals to improve the Conceptual Framework for Financial Reporting, with comments to be received by October 26, 2015. Among much else, the IASB proposes adding the following new language to the existing discussion of what makes financial information relevant: “One factor affecting the relevance…
The IASB has issued its exposure draft of clarifications to IFRS 15, with comments to be received by October 28, 2015. As we discussed here, any entity for which the standard causes a change in its existing accounting practices will have to make a specific choice about how to make the transition from its old…
As we discussed here, the IASB has published for public consultation proposals to improve the Conceptual Framework for Financial Reporting, with comments to be received by October 26, 2015. Here are some extracts from the proposals: “The concepts of capital (proposed in the document) give rise to the following concepts of capital maintenance: (a) Financial capital…
CPA Canada has issued Five Steps to Simplifying Financial Statements – Today, written by Alex Fisher and me… …(but if you’ve had enough of me from this blog, just forget those last two words and proceed on the assumption Alex wrote the whole thing!). The publication “sets out a principled five-step approach to simplifying financial…
CPA Canada and the Canadian Investor Relations Institute recently issued Interim Reporting Strategies, a discussion brief. The document sums up the interim reporting landscape like this: “The content for interim reporting is less fully defined than that for annual reporting. Although both IFRSs and Canadian securities law contain specific requirements for the content of interim…
As we discussed here, the IASB has published for public consultation proposals to improve the Conceptual Framework for Financial Reporting, with comments to be received by October 26, 2015. A couple of the IASB members dissented on various points, some of which I covered in previous posts. Here’s another one: “Mr Finnegan believes the Exposure…
John Hughes IFRS Blog 