The International Accounting Standards Board (IASB) has issued amendments to IAS 1 Presentation of Financial Statements to improve reporting of long-term debt with covenants
The International Accounting Standards Board (IASB) has amended IFRS 16 Leases to clarify how a company accounts for a sale and leaseback after the date of the transaction
The exponential growth of transactions in Bitcoin and other cryptocurrencies has inevitably raised significant questions about how these activities should be treated in financial statements. Mark Wearden FCCA FCG explains
The Financial Reporting Council (FRC) has published a thematic review of earnings per share (EPS), warning that the IAS 33 accounting rules are not always correctly applied
Michael Winkler, actuary and Sunil Kansal FCA, head of consulting at Shasat Consulting highlight some of the key financial reporting changes as a result of the transition to IFRS 17 Insurance Contracts
The global accounting standard setter plans to work on completing current improvements to IFRS standards and support the drive for universal sustainability standards as part of five-year plan
The International Accounting Standards Board (IASB) plans to simplify revenue recognition rules when it issues the consultation on IFRS for SMEs accounting standard
Critical judgments are frequently raised as an issue by the Financial Reporting Council in its annual Corporate Reporting Reviews as they are not clearly identified or explained. Rachel Farris FCA CTA, Croner-i, summarises the requirements around judgments set out in IAS 1
Insurance companies are facing rising costs to make preparations for the introduction of IFRS 17 Insurance Contracts while 40% of largest companies are not ready for the accounting standard
The Government Actuary’s Department (GAD) is working with government departments and public sector organisations to clarify the new insurance reporting requirements
The UK Endorsement Board (UKEB) has approved the adoption of the International Accounting Standards Board’s (IASB) IFRS 17 Insurance Contracts for use by UK companies
The UK Endorsement Board (UKEB) is undertaking a comprehensive research project to consider how the accounting for, and reporting of, intangible assets could be improved
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