Boards weighing effects of leases on the balance sheet IFRS Developments Issue 25
explains what you need to know about the status of the IASB and FASB leases project.
Impairment - assessing the impact of the new proposal
This IFRS Practical Matters
provides a summary of the currently proposed "three-bucket" credit impairment approach and our views on the next steps for financial institutions.>
IFRS Foundation announces changes to its governanceIFRS Developments Issue 24
discusses the principal highlights of two reports published by the IFRS Foundation including key decisions on the organisation's governance and strategy.
Revenue recognition project: round 2 for the ED
This IFRS Practical Matters highlights
revised proposals for revenue contracts with significant impact on organizational functions, including financial, tax, IT systems and business processes.
Applying IFRS: revenue from contracts with customers
We provide an analysis of the single revenue model that would align IFRS and US GAAP
and could significantly change the timing of revenue recognition.
Applying IFRS: New mandatory effective date and transition disclosures
The IASB issued amendments to the classification and measurement model in IFRS 9. The amendments move the mandatory effective date to 1 January 2015
. Earlier application continues to be permitted. The amendments no longer require the restatement of comparative figures. Instead, IFRS 7 has been amended to require additional disclosures on transition from IAS 39 to IFRS 9. The new disclosures are either required or permitted, based on the entity's date of transition.
IFRS Developments - Issue 23: Limited improvements to the IFRS 9 classification and measurement model.
At its recent meeting, the IASB reached a tentative decision to consider making limited improvements to IFRS 9 Financial Instruments.
While limiting the scope of the review, the IASB seeks to address the interaction between this standard's classification and measurement model and the accounting for insurance contract liabilities. The IASB also seeks to address specific application issues in IFRS 9 and consider possible alignment between IFRS 9 and the FASB's proposed classification and measurement model.
IFRS Developments - Issue 22: Offsetting of financial instruments
Summary of recent amendments to IAS 32 and IFRS 7 on offsetting of financial instruments
, intended to clarify existing application issues relating to the offsetting rules, reduce the level of diversity in current practice and to overcome the differences in the offsetting requirements under IFRS and US GAAP.
Insurance Accounting Alert: April 2012The Boards agree on separation of investment component
, but remain split on the definition of a portfolio and its use as the unit of account.
Cleantech matters: IFRS in the solar industry
Responding to public concern about greenhouse gases and the Fukushima nuclear disaster, solar technology
is playing a role in an increasing number of larger-scale projects.
Insurance: decisions on premium allocation approach
The Boards re-deliberated the IASB's Insurance Contracts (ED) and the FASB's Preliminary Views on Insurance Contracts (DP)
. We explain our perspective and what you should know.
Oil & Gas: revised proposal for revenue
While the proposal should not fundamentally change revenue recognition for many transactions, we provide impact analysis, application examples and a comparison
to existing standards.
Oilfield Services: revised proposal for revenue Significant changes in practice for oilfield services entities
could result, including more detailed performance evaluations, different progress measurements and an increase in financial statement disclosures.
Power & Utilities: revised revenue recognition proposal
The proposed model is not expected to have a significant impact within the power and utilities industry
, but may impact contract modifications and take-or-pay arrangements.
Mining & Metals: revised revenue recognition proposal
Applying IFRS in Mining & Metals
analyzes the implications of the proposal, explaining where the revenue recognition practices may change for certain arrangements.
Insurance: Limited improvements to classification + measurement
The IASB has considered making limited changes to the IFRS 9 classification and measurement model. Applying IFRS in Insurance
discusses the impact for insurers and next steps.
Revised revenue recognition proposal – life sciences
Applying IFRS in Life Sciences
analyzes the impact of the proposal for life sciences entities, with application examples and a comparison to the existing standard.
Applying IFRS in Retail and Consumer Products
Read about the impact of the IASB and FASB revenue recognition proposal
and the key implications for retail and consumer products entities.
Telecommunications: revised revenue recognition proposal
Applying IFRS in Telecommunications
explains the impact of the IASB's proposal on mobile and fixedline telecom companies, with examples and a comparison to existing standards.
Boards debate premium allocation approach
This issue of IFRS Developments for Insurers
highlights the education sessions of the IASB and the FASB that continue discussion on eligibility criteria.
Current issues and financial statement survey 2010-11
Surveying IFRS for real estate highlights accounting policies and disclosures
of 38 property companies from Europe, Australia, the Middle East, Asia and Canada.
Implications of IFRS 4, 9 and Solvency II for insurers
We focus on business implementation and project management considerations
, analyzing the main areas that will be impacted by IFRS 4 Phase II and IFRS 9.