Some observations on the IASB’s recent amendments to the existing requirements for biological assets, including a new concept of “bearer plants” The IASB has issued Agriculture: Bearer Plants, amendments to IAS 16 and IAS 41, effective for annual periods beginning on or after January 1, 2016. Prior to the amendments, IAS 41 sets out a…
On the IASB’s faltering attempts to communicate with a (perhaps) key constituency The IASB has been making a decent attempt to communicate with investors, but it’s apparently not easy. Its website has a section dedicated to such readers, including high-level summaries of various standards and summaries of investor feedback on some of its projects. The…
Some observations on a recent speech to the IFRS Foundation Conference in London by IASB Vice-Chair Ian Mackintosh. Most of Mackintosh’s text consists of updates on current projects, but in the closing stretch, he steps back to make some broader remarks: “… I find it interesting to note that in recent speeches, various members of the FASB…
A European example of challenges in determining the appropriate discount rate for purposes of the impairment calculation 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 13th edition: “The issuer operates in…
A European example of related party disclosures omitted from interim financial statements 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 13th edition: “The issuer manufactures industrial metals. One major shareholder owned…
A European example of an issue relating to the useful life of 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 13th edition: “The issuer is a listed company specialising…
The IASB has issued IFRS 15, Revenue from Contracts with Customers, effective for annual reporting periods beginning on or after January 1, 2017. To read this post, go to http://mnp.ca/en/media-centre/blog/2014/6/5/new-ifrs-revenue-recognition-standard-addressing-a-vital-metric.
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 13th edition: “The issuer recognised in its statement of financial position a significant amount of goodwill exceeding 100% of its equity. For the…
The IASB has recently published amendments to IFRS 11, addressing Accounting for Acquisitions of Interests in Joint Operations, effective for annual periods beginning on or after January 1, 2016. To read this post, go to http://mnp.ca/en/media-centre/blog/2014/5/22/acquiring-interests-in-joint-operations-down-to-business
The IASB recently issued Clarification of Acceptable Methods of Depreciation and Amortization (Amendments to IAS 16 and IAS 38), effective for annual periods beginning on or after January 1, 2016. To read this post, go to http://mnp.ca/en/media-centre/blog/2014/5/21/clarifying-depreciation-and-amortization-at-the-margins
John Hughes IFRS Blog 