FAAS Bi-Weekly 2014

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IASB issues IFRS 9 Financial Instruments – expected credit losses

This IFRS Developments of “IASB issues IFRS 9 Financial Instruments – expected credit losses” discusses the finalized version of IFRS 9 on how the expected credit loss model is applied to debt instruments recorded at amortized cost or at fair value through other comprehensive income.


Read the past issues below.


IASB issues IFRS 9 Financial Instruments – classification and measurement

This IFRS Developmentsdiscusses the finalized version of IFRS 9. Application is required for annual periods beginning on or after 1 January 2018.


Applying IFRS: A closer look at the new revenue recognition standard

The new revenue recognition standard issued by the IASB and the FASB creates a comprehensive source of revenue requirements for all entities in all industries. Our Applying IFRS: A closer look at the new revenue recognition standardanalyses the new standard and highlights key changes from current IFRS.


Applying IFRS: Challenges in adopting and applying IFRS 11

This edition serves as an update to our 2011 publication on the practical implementation challenges of applying IFRS 11.


IFRS Developments: IASB prohibits revenue based depreciation

IFRS Developments: IASB prohibits revenue based depreciationhighlights the amendments to IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets which were issued in May 2014.


IASB issues a discussion paper on accounting for macro hedging

The discussion paper explores how to provide useful information on entities' dynamic risk management activities in their financial statements.


IFRS Developments: Boards make more progress on leases project

The IASB and the FASB continued discussing ways to clarify and simplify their 2013 proposal to put most leases on lessees’ balance sheets.


Applying IFRS: Credit valuation adjustments for derivative contracts

We discuss the methods used in practice to determine valuation adjustments for credit risk on all derivatives measured at fair value and the practical implications.


IASB Projects: A pocketbook guide 31 March 2014

This edition summarises key features of the IASB's active projects. It also includes some potential financial and business implications of the proposals, and our views.


IFRS Core Tools

Our IFRS Core Tools provides a comprehensive basis for you to keep up with the changing landscape of IFRS.


IFRS Developments, Issue 75: Boards back away from key aspects of leases proposal

In their joint redeliberations, the IASB supported a single on-balance sheet model for lessee accounting while the FASB supported a dual on-balance sheet model.


Hedge accounting under IFRS 9

We look at some of the potential benefits for reporting entities and explore some of the challenges IFRS 9 poses.


Expected credit loss model: sets 2018 effective date

The IASB completed its redeliberations on the proposed expected credit loss model and plans to issue IFRS 9 Financial Instruments, effective from 1 January 2018


IFRS 12 Structured entities

We explore the impact of IFRS 12 on fund managers who manage investment funds which may fall within the definition of a structured entity.


Post-implementation review of IFRS 3

The IASB issued a Request for Information - Post-implementation Review: IFRS 3 Business Combinations. The request for information is open for comment until 30 May 2014.


Interim standard on regulatory deferral accounts

The IASB issued IFRS 14 to encourage rate-regulated entities to adopt IFRS while the IASB works on the comprehensive rate-regulated activities project.


Future directions for foreign banks in China

With significant initiatives such as Renminbi internationalization and opening up the capital account, foreign banks in China are on the cusp of a new era.


IASB issues two cycles of annual improvements to IFRS

The IASB issued two cycles of the annual improvements containing 11 changes to nine standards. The amendments are effective on or before 1 July 2014.


Challenges in adopting and applying IFRS 10

This publication describes the requirements of IFRS 10, including the amendment to include an exception to consolidation for investment entities.

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