2017 was a good year for Financial Reporting. Alongside the first truly international accounting standard for insurance contracts (IFRS 17), the foundation has also made substantial progress in improving communication in financial reports, with more regulators requiring the use of the IFRS taxonomy. Now, 144 different jurisdictions and 15 out of the 20 G20 economies […]
Now you can find out. Well, at least for the IFRS’s Conceptual Reporting Framework anyway. Following a reissue of their Conceptual Framework in March this year, the IFRS Foundation has now released a quiz to test your knowledge and understanding. As those who stand a chance of getting it all right will already be aware, […]
The agenda and papers for the next IFRS Taxonomy Consultative Group meeting, to be held on 19 April 2018, have been published. The topics for discussion will include: Principles of Disclosure IFRS Taxonomy—Technology review IFRS Taxonomy implementation support IFRS Taxonomy content—areas for discussion Handling of entity-specific disclosures Common practice analysis—IFRS 13 Fair Value Measurement IFRS Taxonomy […]
With so-called “FPIs”, or firms that raise money on US markets while domiciled elsewhere, now obliged to file IFRS financial statements with the SEC in XBRL or Inline XBRL format, the SEC has provided an updated set of (relatively technical) FAQs. Got questions? The FAQs are here.
The IFRS Foundation is expected to publish today its new Taxonomy for 2018 which includes a number of updates from the IFRS Taxonomy 2017. The 2018 Taxonomy will incorporate the IFRS Update for IFRS 17 Insurance Contracts issued in January 2018. Alongside the 2018 update, the IFRS Foundation will also be publishing further Taxonomy amendments for both Annual […]
The fifth annual International Accounting Standards Board (IASB) Research Forum will take place on the 11th and 12th of November 2018 in Sydney, Australia. The Forum will provide an opportunity for academic authors to present their papers to a mixed audience of academics and accountants, providing new insights into standard-setting and regulation developments, as well […]
The IFRS Taxonomy team published changes to the latest version of its taxonomy to incorporate changes to the IFRS 17 Insurance Contracts accounting standard. Full details (and the taxonomy) available on the IFRS web site. Check with local regulators to understand when the update can be used for national filing arrangements.
The IFRS taxonomy is used to create digital financial statements that conform to the International Financial Reporting Standards. The IFRS Foundation has now published the first version of a Preparer’s Guide to using this taxonomy.
The IFRS Foundation has published proposals for updates to the IFRS taxonomy. Comments close on 29 January.
IASB Chairman outlines plans for the IFRS “Better Communications” initiative in Brazil. Making digital consumption of financial information easier via the IFRS XBRL taxonomy is one part of this effort.