IFRS

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IFRSStandards

IASB issues minor amendments to IFRS Standards

Yesterday the International Accounting Standards Board (IASB) issued a package of narrow-scope amendments to the IFRS Standards. These included IAS 37, Onerous Contracts; IFRS 3, Reference to the Conceptual Framework; IAS 16, Property, Plant and Equipment; and Annual Improvements to IFRS Standards 2018–2020. The amendments will come into force in January 2022. Find out more about […]

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AccountingIFRSRisk

IFRS Foundation issue guidance on COVID-19 and IFRS 9

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Not sure how to account for Expected Credit Losses (ECL) in the current uncertain climate? IFRS Foundation have issued guidance in order to support a consistent application of IFRS 9, Financial Instruments. IFRS 9 sets out a framework for determining when a significant increase in credit risk on a financial instrument requires an Expected Credit […]

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IFRSTaxonomy

IFRS Publishes 2020 Taxonomy

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This week the IFRS Foundation published the IFRS Taxonomy 2020, based on the latest IFRS Standards. It incorporates an update designed to help data users understand how uncertainty relating to interest rate benchmark reform affects an entity’s hedging relationships. The publication is accompanied by the updated IFRS Taxonomy Formula Linkbase 2020 which can help validate […]

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IASBIFRSIntegratedNon-FinancialReportingStandards

Change in the wind? Recent speeches signal IASB shift

By Editor

Recent IFRS speeches indicate a new willingness to better integrate IFRS reporting with additional non-financial reporting metrics that have developed out of changing investor needs. Technology means we have seen a dramatic shift in the importance of intangible assets, reducing the relevance of the traditional balance sheet. Demand from investors for sustainability reporting is on […]

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ESGIFRSNon-FinancialReportingSustainability

Must Read: ESMA’s Maijoor on IFRS

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ESMA Chair Steven Maijoor’s speech underlined the importance of IFRS going forward and described the expected impact of structured (ESEF) data in Inline XBRL for users and regulators alike. He also urged policy makers to focus on standardisation of ESG disclosures.

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IFRSTaxonomyTurkey

IFRS Taxonomy now available in Turkish

By Editor

The files for the 2018 IFRS Taxonomy are now available in Turkish. To provide support to Turkish speakers, the IFRS Taxonomy Illustrated (ITI) has also been translated. This provides a simplified guide to the IFRS Taxonomy in an easy-to-read visual format that does not require knowledge of XBRL. Furthermore, the IFRS Taxonomy versioning information, which […]

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IFRSLIBORTaxonomy

LIBOR Update to IFRS Taxonomy Proposed

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Following the recent update to the IFRS standards in advance of the transition away from discredited interest rate benchmarks such as LIBOR, the IASB have proposed corresponding updates to the IFRS Taxonomy 2019. The Proposed IFRS Taxonomy updates include new elements that reflect the disclosure requirements introduced by the recent amendments to IFRS 9, IAS 39 and […]

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AccountingIFRSLIBORStandards

IFRS Standards Amended in Response to IBOR

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After an accelerated response period, the IASB have finalised the proposed changes to the IFRS standards in advance of the move away from discredited interest rate benchmarks such as LIBOR. The changes amend some of the requirements for hedge accounting to ensure companies can still report useful information during the period of uncertainty caused by […]

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IASBIFRSLIBOR

IASB Update: Interest Rate Benchmark Reform

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With the 2021 switch away from widely discredited interest rate benchmarks such as LIBOR, the mechanics of that transition was again on the agenda for the IASB this summer. Earlier this year IASB proposed changes to IFRS financial instruments standards IAS 39 and IFRS 9 that will allow hedge accounting to continue during the IBOR reforms. […]

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IASBIFRSIFRS Taxonomy

Call for Members: Help Develop the IFRS Taxonomy

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Would you like to help shape the future of the IFRS Taxonomy? Join the International Accounting Standards Board’s IFRS Taxonomy Consultative group to contribute and advise on the Taxonomy’s development. The board is keen to appoint new members from a variety of business and geographical backgrounds to advise the IFRS foundation on the content and […]

Items tagged with "IFRS"

IASB issues minor amendments to IFRS Standards

IFRS Foundation issue guidance on COVID-19 and IFRS 9

IFRS Publishes 2020 Taxonomy

Change in the wind? Recent speeches signal IASB shift

Must Read: ESMA’s Maijoor on IFRS

IFRS Taxonomy now available in Turkish

LIBOR Update to IFRS Taxonomy Proposed

IFRS Standards Amended in Response to IBOR

IASB Update: Interest Rate Benchmark Reform

Call for Members: Help Develop the IFRS Taxonomy

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Items tagged with "IFRS"

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