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Ernst & Young Monthly News January 2010

E-News

Tax News – December 2009

(PDF, English, 170 kB)

Editorial / Customs News (Barbara Henzen, Silja Pracht, Oliver Hulliger) / News on the capital contribution principle (Gabriela Schwyter, Sarah Dubach) / New challenges for tax professionals (René Röthlisberger, Rahel Keller) / Extended net operating loss carryback period lets U.S. companies access much-needed cash (Aaron Schaal) / International transfer pricing (Ulrike Wolff) / Overview of amendments to cantonal tax laws for selected cantons (Lisa Airoldi, Thomas Weber, Caroline Koch, Jochen Wehrli, Viktor Bucher, Sita Mahwattage, Annette Menn, Stefan Grob, Roger Krapf, Roman Scherrer, Katia Stampfli, Lukas Bürgi)

IFRS Outlook – December 2009

(PDF, English, 3.45 MB)

G-20 and the principles for sound compensation – accounting implications for cash bonus arrangements / The path of ‘leased’ resistance / Financial reporting developments / Resources

Extinguishing financial liabilities with equity instruments – November 2009 (Issue 62, Supplement to IFRS Outlook)

(PDF, Englisch, 158 kB)

The International Financial Reporting Interpretations Committee (IFRIC) has issued Interpretation 19 Extinguishing Financial Liabilities with Equity Instruments which clarifies the treatment of financial liabilities that are extinguished with equity instruments. In this supplement, we summarize the key features of IFRIC 19 and consider the potential impact the interpretation may have on businesses.

Proposed financial instrument disclosure exemptions for first-time adopters – November 2009 (Issue 63, Supplement to IFRS Outlook)

(PDF, Englisch, 131 kB)

This issue summarizes the main elements of a new proposal from the IASB to provide relief regarding disclosure of financial instruments to first-time adopters of IFRS. In this supplement, we summarize the key features of the proposal and consider the potential impact on businesses.

Prepayments of a minimum funding requirement – amendments to IFRIC 14 – November 2009 (Issue 61, Supplement to IFRS Outlook)

(PDF, Englisch, 168 kB)

This issue summarizes the IASB's amendment to correct an unintended consequence of IFRIC 14 IAS 19 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and Their Interaction. The requirements of IFRIC 14 meant that some entities that were subject to minimum funding requirements could not treat any surplus in a defined benefit pension plan as an economic benefit. This amendment will allow these entities to recognize a prepayment of pension contributions as an asset rather than an expense. In this supplement, we summarize the key features of the amendment and the potential impact the interpretation may have on businesses.

Insurance Accounting Alert – December 2009

(PDF, English, 0.99 MB)

IASB and FASB aim for common measurement objective and refine details of measurement model based on three building blocks