IFRS

Latest news

Image for choosing right frs accounting business combinations part 1

Finance | Choosing the right FRS: accounting for business combinations - part 1

In the first of a series on UK GAAP transition, Helen Lloyd FCA considers the most appropriate accounting standard for business combinations based on the myriad choices of FRSs 101, 102 or 105, and in certain circumstances even IFRS

10 Sep 2015

Finance | LAPFF calls on MEPs to block IFRS 9 as FRC comes under fire

The Local Authority Pension Fund Forum (LAPFF) has published a further opinion from George Bompas QC, challenging how defective accounting standards have been implemented, and finds significant flaws in the position of the Financial Reporting Council (FRC) over the use of true and fair in financial reporting, the latest stage in a long-running argument between the pensions group and the UK regulator

1 Sep 2015

Finance | Accounting updates: September 2015

In the roundup of the latest accounting developments, Quindell faces SFO investigation into accounting irregularities, Kids Company audit report highlights cashflow issues and ban on invoice assignment clauses opens up invoice finance options for SMEs, while IASB delays IFRS 10 amendments on joint venture reporting

1 Sep 2015

Finance | IFRS 9: would new standard have stopped Greek banking crisis?

It’s no secret that the countdown is now on for the implementation of the new, global accounting standard, IFRS 9, Financial Instruments, which must be implemented and fully compliant by January 2018. Damien Burke, head of regulatory practice at 4-Most Europe, asks whether IFRS 9 could have stopped the Greek banking crisis

25 Aug 2015

Finance

Accounting Standards

IFRS

Finance | International reporting: IFRS 9 concession for insurers, dynamic risk management

At the latest IASB meeting, the global standard-setters yet again delayed the project on dynamic risk management, while insurers received a welcome concession over IFRS 9, says Jeroen Van Doorsselaere, IFRS expert at Wolters Kluwer

21 Aug 2015

Finance | IASB consults on future work plan and IFRS priorities

The International Accounting Standards Board (IASB) is calling for public input on its future work plan and priorities for future IFRS amendments for the period up until 2020

12 Aug 2015

Finance

IFRS

Audit Consultations

Finance | IASB delays accounting changes for associates and joint ventures

The International Accounting Standards Board (IASB) is to delay accounting changes for associates and joint ventures as part of a wider review of the relationship between JVs and investors under planned reforms of IFRS 10

10 Aug 2015

Finance

IFRS

Audit Consultations

Finance | Marshall: making sense of reported earnings under IFRS

There’s a growing tendency to bury the IFRS numbers, but does this simply obscure company performance and lead to less consistency across financial reporting under IAS 1, Presentation of Financial Statements, asks Andrew Marshall FCA, senior technical partner at KPMG UK

10 Aug 2015

Finance

Financial Reporting

IFRS

Tax | HMRC clarifies rules for accounting for credit losses under IFRS 9

Revised rules on the tax treatment of credit losses as a result of the introduction of IFRS 9, Financial Instruments, has come into force with amendments to the Change of Accounting Practice Regulations 2004 (SI 2004/3271)

6 Aug 2015

Finance | IFRS 9, Financial Instruments: the road to conversion

2018 may seem distant for compliance with the new accounting standard, IFRS 9, Financial Instruments, but financial institutions already face serious challenges, warns Jeroen Van Doorsselaere, IFRS expert at Wolters Kluwer Financial Services

30 Jul 2015

Finance

Financial Reporting

IFRS

Finance | IASB delays IFRS 15 on revenue recognition until 2018

The International Accounting Standards Board (IASB) has delayed the implementation of the new revenue recognition standard, IFRS 15, Revenue from Contracts with Customers, by one year until 1 January 2018

22 Jul 2015

Finance | IAS 19 reporting risk to pensions net liability

Proposed changes to pension rules under IFRIC 14, Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction, threaten companies with extra balance sheet liabilities if reporting via IAS 19, warn Tim Marklew and Alex Waite, partners at LCP

21 Jul 2015

Finance | IASB board numbers up for review as IFRS Foundation launches consultation

In a bid to raise confidence in the International Accounting Standards Board (IASB), reduce the size of the management board and strengthen funding, and improve the framework around International Financial Reporting Standards (IFRS) the IFRS Foundation has issued a public consultation

7 Jul 2015

Finance

IFRS

Audit Consultations

Finance | IASB chair analyses historical cost and fair value in accounting

Hans Hoogervorst, chairman of global standard setter, the International Accounting Standards Board (IASB), has delivered a speech examining the question of how assets and liabilities should be measured, which he described as ‘one of the most difficult topics in accounting’

30 Jun 2015

Finance

Financial Reporting

IFRS

Image for woolf iasb serious about return prudence

Finance | Woolf: Is IASB serious about return to prudence?

Prudence may have returned to accounting with the IASB indicating that it will take account of the issue when crafting IFRS in future, but the wider economy is flattering to deceive, says Emile Woolf FCA

29 Jun 2015

Accounting Standards

IFRS

Corporate Governance

Image for international reporting what conceptual framework means

Finance | International reporting: what the Conceptual Framework means

In our monthly round-up of IFRS developments, Jeroen Van Doorsselaere, IFRS analyst at Wolters Kluwer Financial Services, assesses the key changes proposed in the IASB review of the all-important Conceptual Framework, delays to the disclosure initiative until Q3 and the completion of the review of IFRS for SMEs

24 Jun 2015

Navigate

Tax Services

Latest news

Finance | Choosing the right FRS: accounting for business combinations - part 1

Finance | LAPFF calls on MEPs to block IFRS 9 as FRC comes under fire

Finance | Accounting updates: September 2015

Finance | IFRS 9: would new standard have stopped Greek banking crisis?

Finance | International reporting: IFRS 9 concession for insurers, dynamic risk management

Finance | IASB consults on future work plan and IFRS priorities

Finance | IASB delays accounting changes for associates and joint ventures

Finance | Marshall: making sense of reported earnings under IFRS

Tax | HMRC clarifies rules for accounting for credit losses under IFRS 9

Finance | IFRS 9, Financial Instruments: the road to conversion

Finance | IASB delays IFRS 15 on revenue recognition until 2018

Finance | IAS 19 reporting risk to pensions net liability

Finance | IASB board numbers up for review as IFRS Foundation launches consultation

Finance | IASB chair analyses historical cost and fair value in accounting

Finance | Woolf: Is IASB serious about return to prudence?

Finance | International reporting: what the Conceptual Framework means