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IFRS matters

19 December 2013

US GAAP/IFRS accounting differences identifier tool
We have updated our US GAAP/ IFRS accounting differences identifier tool, which was developed to help entities that are converting from US GAAP to IFRS or that are evaluating the effects of IFRS adoption. This release generally reflects guidance effective in 2013 and guidance finalized by the FASB and the IASB before 31 May 2013, including IFRS 10, Consolidated Financial Statements, and IFRS 11, Joint Arrangements. It also contains a discussion of current standard-setting activities at the FASB and the IASB.

6 November 2013

US GAAP versus IFRS: The basics
We have updated our US GAAP versus IFRS: The basics publication, which describes similarities and differences between US GAAP and IFRS. The updated edition generally reflects guidance effective in 2013 and guidance finalized by the FASB and the IASB before 31 May 2013, including IFRS 10, Consolidated Financial Statements, and IFRS 11, Joint Arrangements.

1 June 2013

IFRS Outlook - June 2013
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 March 2013

IFRS Outlook - March 2013
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

10 January 2013

Joint Project Watch - December 2012
The standard-setting activities of the FASB and the IASB on their joint projects continue to move forward. The Boards are redeliberating their second exposure draft (ED) on revenue recognition, and are preparing to issue a second ED on leases in early 2013. Separate documents on financial instruments topics have been issued or are expected early in 2013. Our Joint Project Watch publication is designed to give you a snapshot of key developments from a US GAAP perspective, along with our observations about the potential implications for companies.

14 November 2012

US GAAP versus IFRS: The basics
While convergence was a high priority for the FASB and the IASB in 2012, differences continue to exist between US GAAP and IFRS. In this guide, we provide an overview by accounting area of where the standards are similar, where differences are commonly found in practice, and how and when certain differences are expected to disappear.

1 November 2012

IFRS Outlook - November 2012
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

11 October 2012

Joint Project Watch - September 2012
The standard-setting activities of the FASB and the IASB on their joint projects continue to move forward. The Boards are redeliberating their second exposure draft (ED) on revenue recognition, and are preparing to issue a second ED on leases in early 2013. Our Joint Project Watch publication is designed to give you a snapshot of key developments from a US GAAP perspective, along with our observations about the potential implications for companies.

10 October 2012

IFRS Outlook - September 2012
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

15 August 2012

IFRS Outlook - July/August 2012
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

17 July 2012

To the Point - SEC staff releases Final Report on IFRS
The SEC staff issued its Final Report on its IFRS Work Plan summarizing its findings about a possible move to a set of global accounting standards. The report does not include a recommendation to the Commission about whether or how to incorporate IFRS into the US financial reporting system. The report notes that the Commission has not yet made a policy decision. We don't expect a decision before 2013. Our To The Point publication summarizes the report.

3 July 2012

Joint Project Watch – June 2012
The standard-setting activities of the FASB and the IASB on their joint projects continue to move forward. The Boards are expected to soon begin redeliberations of their second exposure draft on revenue recognition, and they continue to redeliberate other significant projects. Our Joint Project Watch publication is designed to give you a snapshot of key developments from a US GAAP perspective, along with our observations about the potential implications for companies.

1 May 2012

IFRS Outlook - May 2012
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

5 April 2012

Joint Project Watch - March 2012
The standard-setting activities of the FASB and the IASB on their joint projects continue to move forward. The Boards have issued final guidance or exposure drafts on several projects and continue to redeliberate others. Our Joint Project Watch publication is designed to give you a snapshot of key developments from a US GAAP perspective, along with our observations about the potential implications for companies.

1 March 2012

IFRS Outlook - March 2012
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

23 February 2012

US GAAP versus IFRS: The basics, December 2011 edition
Our new edition of US GAAP versus IFRS: The basics has been updated for key developments through December 2011. While convergence efforts continued to be a high priority on the agendas of both the FASB and the IASB in 2011, differences continue to exist between US GAAP and IFRS. In this guide, we provide an overview by accounting area of where the standards are similar, where differences are most commonly found in present practice, and when applicable, provide an overview of how and when those differences are expected to converge.

1 January 2012

IFRS Outlook - January 2012
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 January 2012

Joint Project Watch - FASB/IASB joint projects from a US GAAP perspective - December 2011
Our Joint Project Watch is designed to give you a snapshot of the key points related to the FASB and IASB joint projects discussed during recent FASB meetings, including our observations about the potential implications for companies, where appropriate.

8 December 2011

To the Point - Support grows for keeping US GAAP but basing future standards on IFRS
The incorporation of IFRS into the US financial reporting system was once again a focus of discussion at the AICPA National Conference on Current SEC and PCAOB developments in Washington D.C. this week. Representatives from the SEC, FASB and IASB all indicated that the SEC could incorporate IFRS into the US financial system but retain US GAAP. Our To the Point publication tells you what you need to know about these developments.

21 November 2011

To the Point - SEC Staff issues two papers on IFRS
As part of its Work Plan to consider whether, and if so, when and how IFRS should be incorporated into the US financial reporting system, the SEC staff released two papers: A Comparison of US GAAP and IFRS and An Analysis of IFRS in Practice. Our To the Point publications provides a summary of these documents.

1 October 2011

IFRS Outlook - September/October 2011
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 September 2011

Joint Project Watch - FASB/IASB joint projects from a US GAAP perspective - August/September 2011
The joint standard-setting activities of the FASB and the IASB continue to move forward. The Boards are redeliberating several projects and have issued final guidance on others. The Boards have decided to re-expose their revenue and leases models, giving constituents another opportunity to provide feedback. We encourage you to actively follow the Boards’ progress and to respond to requests for comment.

1 August 2011

IFRS Outlook - August 2011
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

28 July 2011

Comment Letter - Workplan for incorporating IFRS into the financial reporting system for US issuers
Our comment letter to the SEC supports the approach described in the Staff Paper. We believe that it is a thoughtful and balanced way of moving closer to achieving the ultimate goal of a single set of high-quality globally accepted accounting standards.

28 July 2011

Technical Line - A snapshot of the new joint revenue model
The Boards have completed their redeliberations on their revenue recognition proposal and plan to issue a second exposure draft due to the significant changes they made to the model they proposed last year. Our Technical Line summarizes the revised model based on our understanding of the tentative decisions the Boards reached during their redeliberations. We also compare the guidance in the original exposure draft to the guidance we expect in the upcoming exposure draft.

21 July 2011

To the Point - Boards to re-expose leases - a new approach for lessors selected
The Boards decided to re expose their joint leases proposal for a second time because they have made significant changes to the model they proposed last year. One of the changes decided this week was that lessors should apply a receivable and residual approach to all leases, with a few exceptions. Our To the Point publication summarizes these latest developments.

21 July 2011

To the Point - New credit impairment approach takes shape
The FASB and the IASB continued their discussion of the three-bucket approach for impairment of financial assets that they expect to formally propose in September. Our To the Point publication discusses the Boards' recent tentative decisions refining the approach.

12 July 2011

To the Point - SEC hears mixed feedback at roundtable on IFRS
The SEC staff is gathering feedback to help the commissioners decide whether, and if so, when and how to incorporate IFRS into the financial reporting system for US issuers. That decision is expected later this year. Our To the Point publication summarizes what you need to know about the roundtable held by the SEC in July 2011.

1 July 2011

Joint Project Watch - FASB/IASB joint projects from a US GAAP perspective - July 2011
Our Joint Project Watch is designed to give you a snapshot of the key points related to the FASB and IASB joint projects discussed during this month’s FASB meetings, including our observations about the potential implications for companies, where appropriate.

16 June 2011

To the Point - Other comprehensive income is moving
The FASB issued new guidance to make the presentation of items within other comprehensive income (OCI) more prominent. Companies will be required to present items of net income, items of OCI and total comprehensive income in one continuous statement or two separate consecutive statements. They will no longer be allowed to present items of OCI in the statement of stockholders’ equity. Out To the Point summarizes what you need to know about the rule.

16 June 2011

To the Point - US perspective on IFRS amendments to employee benefit accounting
The IASB today finalized amendments to International Accounting Standard (IAS) 19, Employee Benefits. While this was not a joint project with the FASB, the IASB’s amendments to IAS 19 may serve as a starting point for future changes to accounting for pension and other postretirement benefits under US GAAP. Our To the Point summarizes the rule from a US perspective.

1 June 2011

IFRS Outlook - May/June 2011
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 June 2011

Joint Project Watch - FASB/IASB joint projects from a US GAAP perspective - June 2011
Our Joint Project Watch is designed to give you a snapshot of the key points related to the FASB and IASB joint projects discussed during this month’s FASB meetings, including our observations about the potential implications for companies, where appropriate.

1 June 2011

To the Point - SEC Staff Paper explores a way to incorporate IFRS in the US
Our To the Point summarizes the an approach for incorporating IFRS into the US financial reporting system that was first described by an SEC official as “condorsement.” A roundtable is scheduled for 7 July 2011.

1 May 2011

Joint Project Watch - FASB/IASB joint projects from a US GAAP perspective - May 2011
Our Joint Project Watch is designed to give you a snapshot of the key points related to the FASB and IASB joint projects discussed during this month’s FASB meetings, including our observations about the potential implications for companies, where appropriate.

1 April 2011

IFRS Outlook - March/April 2011
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 April 2011

Joint Project Watch - FASB/IASB joint projects from a US GAAP perspective - April 2011
Our Joint Project Watch is designed to give you a snapshot of the key points related to the FASB and IASB joint projects discussed during this month’s FASB meetings, including our observations about the potential implications for companies, where appropriate.

1 March 2011

Joint Project Watch - FASB/IASB joint projects from a US GAAP perspective - March 2011
Our Joint Project Watch is designed to give you a snapshot of the key points related to the FASB and IASB joint projects discussed during this month’s FASB meetings, including our observations about the potential implications for companies, where appropriate.

1 February 2011

Hedge accounting under IFRS 9 - a closer look at the changes and challenges
Our publication discusses the IASB proposal related to hedge accounting.

1 February 2011

IFRS Outlook - January/February 2011
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 February 2011

Joint Project Watch - FASB/IASB joint projects from a US GAAP perspective-February 2011
Our Joint Project Watch is designed to give you a snapshot of the key points related to the FASB and IASB joint projects discussed during this month’s FASB meetings, including our observations about the potential implications for companies, where appropriate.

31 January 2011

Comment Letter - FASB’s discussion paper, effective dates and transition methods
Our comment letter suggests that the FASB further delay the effective date of the various joint projects because preparers will need a good deal of time to make the necessary changes prior to adoption.

1 January 2011

Joint Project Watch - FASB/IASB joint projects from a US GAAP perspective - January 2011
Our Joint Project Watch is designed to give you a snapshot of the key points related to the FASB and IASB joint projects discussed during this month’s FASB meetings, including our observations about the potential implications for companies, where appropriate.

22 December 2010

Hot Topic - FASB and IASB joint projects update
Our Hot Topic summarizes the Boards' plans related to their joint projects at 2010 year-end.

10 December 2010

Comment Letter - Standard setting timetable for MoU projects
This comment letter provides our views on the pace of accounting changes resulting from the joint projects.

10 December 2010

Hot Topic - IFRS issues featured at AICPA Conference
Our Hot Topic provides highlights of the discussion of convergence issues discussed at the 2010 AICPA Conference.

1 December 2010

IFRS Outlook - December 2010
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

3 November 2010

Hot Topic - SEC issues first Progress Report on IFRS Work Plan
Our Hot Topic summarizes the SEC staff's first Progress Report on its Work Plan related to the possible move to a set of global accounting standards.

1 November 2010

IFRS Outlook - November 2010
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

20 October 2010

Hot Topic - FASB and IASB request input on when new standards should become effective
The FASB and IASB are requesting comments about the time and effort required to adapt to the new joint standards they have proposed and when they should become effective. We strongly encourage entities to provide their views about how and when new standards should be implemented.

1 October 2010

Change is coming. Are you ready?
Our publication discusses these unprecedented accounting changes facing US companies as a result of the joint projects.

1 October 2010

IFRS Outlook - October 2010
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 September 2010

IFRS Outlook - September 2010
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 August 2010

IFRS Outlook - August 2010
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 July 2010

IFRS Outlook - July 2010
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

25 June 2010

Hot Topic - Boards issue joint progress report
The FASB and the IASB jointly issued a progress report on their major projects in advance of an expected discussion of convergence by the G20 on June 26, 2010.. Consistent with an earlier announcement by the Boards, the report includes a revised work plan that reflects a modified strategy. Our publication summarizes the progress report.

1 June 2010

IFRS Outlook - June 2010
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

14 May 2010

Hot Topic - FASB/IASB joint projects update and related presentations
The Boards have completed their discussions of significant matters on several joint projects and are in the process of drafting proposals for exposure on those topics. On other projects, however, there are still a significant number of major issues to be deliberated before the Boards will be ready to issue proposed standards. This edition of our FASB/IASB joint projects update discusses individual projects based on decisions made by the Boards through 30 April 2010

1 May 2010

IFRS Outlook - May 2010
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 April 2010

IFRS Outlook - April 2010
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

31 March 2010

US GAAP vs. IFRS – The basics, March 2010 edition
In our Basics book we take a top level look at the accounting and reporting issues and provide an overview, by accounting area, of where the standards are similar, where they diverge, and any current convergence projects.

1 March 2010

IFRS Outlook - March 2010
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 February 2010

IFRS Outlook - February 2010
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

29 January 2010

Hot Topic - Update on status of FASB/IASB joint projects
The FASB and the IASB have been working closely together since 2002, when the two standard-setters entered into the Norwalk Agreement that formalized their commitment to convergence. The Boards have “redoubled” their efforts and have a number of significant joint projects on their agenda, all of which are planned to be completed by 2011. Our Hot Topic provides a summary of the status of and timetable for each project.

1 January 2010

IFRS Outlook - January 2010
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

11 December 2009

Hot Topic - SEC officials provide update on the proposed IFRS Roadmap
Our Hot Topic summarizes the key issues related to the Roadmap addressed by Commissioner Walter and James Kroeker at the 2009 AICPA National Conference on Current SEC & PCAOB Developments.

1 December 2009

IFRS Outlook - December 2009
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 November 2009

EY Point of View - The path toward a single global accounting standard
Our Point of View discusses the comment letter that our recently submitted to the IASB on its IAS 39 Exposure Draft (on financial instruments).

1 November 2009

IFRS Outlook - November 2009
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

30 October 2009

Hot Topic - IFRS for SMEs: Implications for US private entities
Our Hot Topic contains a summary of the IFRS for SMEs, its scope, key areas in which options in full IFRS have been removed, and key areas in which the accounting for SMEs has been amended from that required by full IFRS. It also provides a number of issues that eligible entities including US private entities will want to consider when making a decision to adopt IFRS for SMEs.

1 October 2009

IFRS Outlook - October 2009
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 September 2009

IFRS Outlook - September 2009
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 August 2009

IFRS Outlook - August 2009
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

29 July 2009

Hot Topic - IASB Exposure Draft on rate-regulated activities
Our Hot Topic addresses the recently issued IASB Exposure Draft (ED), Rate-regulated Activities. The proposals, if adopted, allow for assets and liabilities that arise from rate-regulated activities within the scope of the ED to be recognized under IFRS. Such recognition of assets and liabilities related to rate-regulated operations is a significant change from current IFRS. Comments on the proposal are due 20 November 2009.

1 July 2009

IFRS Outlook - July 2009
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

30 June 2009

IFRS 1: First-time adoption of International Financial Reporting Standards
Our publication summarizes the requirements of first-time IFRS and how IFRS 1 may affect US issuers transitioning from US GAAP to IFRS.

5 June 2009

US GAAP vs. IFRS - The basics: Life sciences
Our Basics book provides a comparison of US GAAP and IFRS standards related to the life sciences industry.

1 June 2009

IFRS Outlook - June 2009
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

29 May 2009

US GAAP vs. IFRS-The basics: Telecommunications
Our Basics book provides an comparison of US GAAP and IFRS standards related to the telecommunications industry.

20 May 2009

Hot Topic - Responses to the SEC Roadmap
Our Hot Topic summarizes several of the more prevalent views raised in comment letters to the SEC on its proposed roadmap for US registrants to adopt IFRS.

20 May 2009

US GAAP vs. IFRS-The basics: Oil and gas
Our Basics book provides a comparison of US GAAP and IFRS standards related to the oil and gas industry.

15 May 2009

US GAAP vs. IFRS-The basics: Homebuilding
Our Basics book provides a comparison of US GAAP and IFRS standards related to the homebuilding industry.

1 May 2009

IFRS Outlook - May 2009
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 April 2009

IFRS Outlook - April 2009
This issue of IFRS outlook addresses rate-regulated assets and liabilities, convertible debt and an update on other IFRS developments.

4 March 2009

Comment Letter - SEC proposed Roadmap for the potential use of IFRS by US registrants
Our comment letter provides Ernst & Young's views on the potential adoption of IFRS by US registrants.

1 March 2009

IFRS Outlook - March 2009
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 February 2009

IFRS Outlook - February 2009
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 January 2009

IFRS Outlook - January 2009
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 January 2009

Inside IFRS: The opportunity for internal audit
Our publication outlines how internal audit can assist business units with in their conversion efforts.

22 December 2008

Technical Line - The road to IFRS in the US
Our Technical Line provides an expansive discussion of the proposed SEC Roadmap and related proposed rule amendments.

1 December 2008

IFRS Outlook - December 2008
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

15 November 2008

Hot Topic - SEC issues proposed roadmap for the potential use of IFRS in financial statements prepared by US issuers
Our Hot Topic summarizes the SEC's roadmap on the potential use of IFRS as issued by IASB in financial statements prepared by US issuers.

1 November 2008

IFRS Outlook - November 2008
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

1 October 2008

IFRS Outlook - October 2008
Our IFRS Outlook provides timely updates with regard to changes in international accounting standards.

17 September 2008

Hot Topic - Boards issue newly updated Memorandum of Understanding
Our Hot Topic summarizes the September 2008 FASB and the IASB updated Memorandum of Understanding (“updated MoU”).

1 September 2008

IFRS for Audit Committees and Boards of Directors
Our publication is designed to help directors and audit committee members understand the potential scope of the change management exercise that the conversion may present to their business.

28 August 2008

Hot Topic - SEC proposes roadmap for IFRS adoption in the US
Our Hot Topic focuses on the SEC's announcement regarding a proposal providing a roadmap for US issuers to transition to IFRS.

25 August 2008

Hot Topic - Transitioning to IFRS-Overview of IFRS 1
Our Hot Topic provides an overview - from a US reporting entity perspective - of the key provisions of IFRS 1, First-time Adoption of IFRS 1, and some of the more significant elections that companies must make in converting to IFRS.

6 August 2008

Hot Topic - SEC Roundtable - Performance of IFRS during the market turmoil
Our Hot Topic summarizes an SEC roundtable to discuss IFRS developments, including the experience with the use of IFRS during the recent period of market turmoil.

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