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
A European example of problems in depreciation calculations 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 both owns and operates a fleet comprising supply and subsea vessels…
IASB Vice-Chair Iain Mackintosh’s recent speech titled The Importance and Challenges of Establishing Standards for Global Finance isn’t as obviously flimsy as some of the public addresses by Chair Hans Hoogervorst, but it’s rather strange in a different way. Take the following: “If investor and investee are increasingly likely to be sitting on different sides of…
Looking for more insight into the ongoing debate in Europe about the role of prudence in the IASB’s conceptual framework, I came across Getting a Better Framework: Prudence, a bulletin issued a year or so ago by the European Financial Reporting Advisory Group. The document provides a useful overview of the diverse notions of prudence…
A European example of a disagreement about what constitutes a business In numerous recent posts, I’ve looked at issues arising from extracts of enforcement decisions recently issued by the European Securities and Markets Authority (ESMA) (for more background see here). I came late to this party though, because ESMA had actually issued similar summaries on…
