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The following publications match your selection:
 | IASB staff draft on fair value measurement - August 2010 (Issue 80, Supplement to IFRS outlook)
The International Accounting Standards Board (IASB) posted a staff draft of the proposed standard Fair Value Measurement to its website on 19 August 2010. The proposed standard Fair Value Measurement will establish a single source of guidance for all fair value measurements, when fair value is required or permitted by IFRS. The staff draft reflects the tentative decisions to date of the US Financial Accounting Standards Board and the IASB regarding how to measure fair value.
 372 kB
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 | Proposed accounting changes for leases – August 2010 (Issue 79, Supplement to IFRS outlook)
On 17 August 2010, the International Accounting Standards Board and the US Financial Accounting Standards Board (the Boards) issued an exposure draft (ED) of a proposed new standard on accounting for leases. This supplement provides a high-level summary of the proposed new model, which would effectively end off-balance sheet reporting for leases. This ED is a joint effort of the Boards to create a converged and consistent approach to lease accounting.
309 kB
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 | IFRS outlook – August 2010
Our views on the Reporting Entity project / Fair value option for financial liabilities — does the proposed change reduce or retain complexity? / Proposal for accounting for insurance contracts / IFRS monthly update / Resources
341 kB
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 | IASB staff draft of new presentation model for financial statements - July 2010 (Issue 78, Supplement to IFRS outlook)
The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB, and collectively, the Boards) have posted to their respective websites, a staff draft of an exposure draft (the draft ED) of a new financial statement presentation standard. The draft ED reflects the Boards' tentative decisions to date regarding their efforts in developing a new financial statement presentation standard. The Boards' proposals are fundamentally the same, although there ...
286 kB
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 | IFRS outlook – July 2010
Impairment of financial assets – where is it heading? / Multiple-element arrangements – how should revenue be recognised under IFRS? / IFRIC 18 and utility companies – practical issues at every step / IFRS monthly update / Resources
466 kB
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 | Limited re-exposure of fair value measurement disclosures – June 2010 (Issue 77, Supplement to IFRS outlook)
This supplement explores a number of issues following the release of the IASB’s June 2010 ED Measurement Uncertainty Analysis Disclosure for Fair Value Measurements including: the specific proposals of the ED for disclosures related to measurement uncertainty; how the ED fits in with the joint project with the FASB on Fair Value Measurements; as well as how it compares with current IFRS, the May 2009 ED and US GAAP. Comments are due to the IASB by 7 September 2010.
242 kB
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 | IASB and FASB focus on high priority projects – June 2010 (Issue 76, Supplement to IFRS outlook) (PDF, English
The International Accounting Standards Board and US Financial Accounting Standards Board (together, the Boards) have jointly issued a progress report, which includes a modified work plan, on their major projects. The modified work plan focuses on those projects for which the need for improvement of IFRS and US GAAP is the most urgent. For these projects, the targeted completion date of June 2011, set by the G20 leaders at the Pittsburgh Summit in September 2009, has been retained. For other ...
260 kB
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 | Improvements to IFRSs 2010 – May 2010 (Issue 71, Supplement to IFRS outlook)
The IASB's Improvements Project is an annual project that provides a mechanism for making necessary, but non-urgent, amendments to standards and the related Basis for Conclusions. This supplement summarizes 11 amendments to six standards and one interpretation, including transitional provisions, that were in the 2009 exposure draft of Improvements to IFRSs. Unless otherwise noted, the proposed effective date for the amendments is for annual periods beginning on or after 1 January 2011.
218 kB
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 | Employee benefits: significant changes proposed by the IASB – May 2010 (Issue 70, Supplement to IFRS outlook)
The IASB published a new ED Employee Benefits on 29 April which proposes major changes to the accounting for long-term employee benefits. Chief among the new proposals is the removal of the 'corridor mechanism' that many companies use for accounting for pension obligations to defer actuarial gains and losses. This change would lead to greater volatility in the value of net assets, in turn requiring companies to consider the potential implications for debt covenant ratios and other ratios.
107 kB
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 | IFRS outlook – May 2010
Convergence of accounting standards — can the different perspectives ever be reconciled? / Derecognition of financial instruments: the way forward / Financial reporting developments / Resources
455 kB
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 | IFRS outlook – April 2010
New proposals for classifying financial instruments as equity or liability / The Fair Value Measurements standard — a project update / Financial reporting developments / Resources
393 kB
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 | IASB discussion paper on extractive activities – April 2010 (Issue 69, Supplement to IFRS outlook)
The lack of comprehensive financial reporting guidance for the minerals and oil and gas industries has led to significant divergence in financial reporting for extractive activities under IFRS. In response, the IASB has published a Discussion Paper (DP) for comment (that was first published in a working draft of the DP in August 2009). The DP presents the results of the research project and contains the views of the project team, which is comprised of staff from the national standard setters ...
200 kB
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 | Proposals to describe the reporting entity – March 2010 (Issue 68, Supplement to IFRS outlook)
The IASB and the US FASB recently issued an Exposure Draft entitled Conceptual Framework for Financial Reporting: the Reporting Entity with proposals for the description of a reporting entity. This proposal is welcome given the current lack of a definition of a reporting entity and is expected to be useful to preparers, regulators and auditors. Our supplement summarizes the proposed description of a reporting entity included in the ED, which includes a discussion of what the proposals mean ...
135 kB
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 | IASB issues complete working draft on proposals to replace IAS 37 - February 2010 (Issue 67, Supplement to IFRS outlook)
In January 2010, the IASB published for comment a revised exposure draft of the measurement section of the replacement for IAS 37 Provisions, Contingent Liabilities and Contingent Assets. As part of the replacement project, the IASB has issued a working draft of the full standard (including the scope, recognition, measurement and disclosure sections) to enable interested parties to see the revised measurement guidance in the context of the proposed new IFRS as a whole. This supplement ...
982 kB
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 | IFRS outlook – March 2010
SEC reaffirms US commitment to IFRS / Investment companies — consolidate or measure at fair value? / The effective date of IFRIC 18 for European entities / Rate-regulated activities — where to next? / Financial reporting developments / Resources
383 kB
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 | Amendments to financial instrument disclosure exemptions – February 2010 (Issue 66, Supplement to IFRS outlook)
The IASB has amended the transitional provisions of the March 2009 amendments to IFRS 7 to clarify its conclusions on the relief available from providing comparative disclosure information while at the same time making this relief available to first-time adopters of IFRS. These changes will benefit both existing IFRS reporters that present more than one comparative period and interim statements in the year following their initial application of the amendments and first-time adopters.
145 kB
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 | IFRS outlook – February 2010
Improving disclosures in financial reporting – an analyst’s perspective / IFRS adoption update / Financial reporting developments / Resources
427 kB
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 | Proposals to change the measurement of non-financial liabilities – January 2010 (Issue 65, Supplement to IFRS outlook)
The IASB has issued a new exposure draft re-exposing its proposals for measuring a non-financial liability. The first ED was issued by the IASB in 2005, and when finalized will replace IAS 37 Provisions, Contingent Consideration and Contingent Assets. This new ED specifically proposes to clarify how a non-financial liability is measured - which will depend largely on whether or not the obligation can be transferred or cancelled. This supplement summarizes the proposals in this ED and its ...
115 kB
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 | IFRS outlook – January 2010
Status of IFRS in the United States / Status update — revenue recognition project / Financial reporting developments / Resources
384 kB
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 | IFRS outlook – December 2009
G-20 and the principles for sound compensation – accounting implications for cash bonus arrangements / The path of ‘leased’ resistance / Financial reporting developments / Resources
3531 kB
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 | Prepayments of a minimum funding requirement – amendments to IFRIC 14 – November 2009 (Issue 64, Supplement to IFRS outlook)
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 ...
168 kB
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 | New proposals for financial instruments at amortized cost – November 2009 (Issue 61, Supplement to IFRS outlook)
The IASB has reached another key milestone of its comprehensive project to replace IAS 39 Financial Instruments: Recognition and Measurement, with the publication of a new Exposure Draft. The ED proposes a new impairment methodology, based on expected credit losses and expected cash flows, for all financial assets measured at amortized cost. It also proposes new guidance on the use of the effective interest rate, which would apply to both financial assets and financial liabilities. In this ...
2245 kB
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 | Related party disclosures - Amendments to IAS 24 – November 2009 (Issue 59, Supplement to IFRS outlook)
The IASB has issued a revised version of IAS 24 Related Party Disclosures that clarifies and simplifies the definition of a related party. The revised standard also provides some relief for government-related entities (as defined in the amended standard) to disclose details of all transactions with other government-related entities (as well as with the government itself). In this supplement, we summarize the changes to IAS 24 and highlight the potential implications for businesses.
182 kB
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 | IFRS outlook – November 2009
G-20 and the principles for sound compensation — accounting implications for sharebased payment transactions / Fair value measurement — EY views / Preparing for 2009 year-end reporting under IFRS / Financial reporting developments / Resources
702 kB
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 | Classification of rights issues denominated in a foreign currency – October 2009 (Issue 58, Supplement to IFRS outlook)
The IASB’s recent amendment to IAS 32 Financial Instruments: Presentation provides relief to entities that issue rights in a currency other than their functional currency, from treating the rights as derivatives with fair value changes recorded in profit or loss. Such rights will now be classified as equity instruments when certain conditions are met. Application of the amendment is retrospective and will result in the reversal of profits or losses previously recognized. This supplement ...
89 kB
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 | IFRS outlook – October 2009
The changing landscape of IFRS – an interview with Ernst & Young's leadership / Accounting for financial instruments – keeping pace with the changes / Debt modification and extinguishment: how modifying a company’s debt affects financial reporting / Financial reporting developments / Resources
543 kB
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 | IFRS outlook – September 2009
Proposed new tax accounting standard — a missed opportunity? / Capitalisation of borrowing costs – distinction between general and specific borrowings / Resources
464 kB
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 | IFRS outlook – August 2009
Ways to move forward from the financial crisis / Proposed lease accounting model — a step too soon? / Requirements for a third balance sheet in IFRS financial statements / Financial reporting developments / Resources
817 kB
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 | Proposals for accounting for rate-regulated activities – July 2009 (Issue 53, Supplement to IFRS outlook)
The IASB has published an Exposure Draft of its proposals for accounting for rateregulated activities in response to several requests for clear guidance. This supplement considers the scope of the proposed guidance and the impact for businesses, particularly for those countries that are in the process of converting to IFRS where accounting for the effect of rate regulation is already in place for some sectors. Comments are due by 20 November 2009.
152 kB
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 | Amendments to IFRS 1 – July 2009 (Issue 52, Supplement to IFRS outlook)
The IASB has issued Amendments to IFRS 1 - Additional Exemptions for First-time Adopters- providing additional relief for some entities applying IFRS for the first time, in particular: 1) the measurement of oil and gas assets for entities using the "full cost accounting method" under local GAAP; and 2) the assessment of leasing contracts in accordance with IFRIC 4. This supplement summarizes the proposals and their impact on businesses.
85 kB
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 | New proposals from the IASB to account for financial instruments – July 2009 (Issue 51, Supplement to IFRS outlook)
The first phase of the comprehensive project to replace IAS 39 Financial Instrument: Recognition and Measurement has reached a key milestone - the publication of the Exposure Draft (ED) on Financial Instruments: Classification and Measurement. In this supplement, we summarize the key proposals set out in the ED and their likely impact on businesses. The proposals to have only two measurement categories (fair value and amortized cost) are in line with the IASB's aim of reducing the complexity ...
284 kB
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 | IFRS for SMEs – July 2009 (Issue 49, Supplement to IFRS outlook)
The IASB has issued its standard - IFRS for SMEs - which contains a number of significant changes to some of the proposals that were made in the Exposure Draft. This supplement contains a summary of the IFRS for SMEs, its scope, key areas where options in full IFRS have been removed and key areas where the accounting for SMEs differs to full IFRS. For smaller entities, the standard is expected to reduce compliance costs and simplify the financial statements. However, they will need to ...
203 kB
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 | Proposed guidance for management commentary – July 2009 (Issue 48, Supplement to IFRS outlook)
This supplement considers the key proposals outlined in a new Exposure Draft (ED) issued by the IASB on non-binding guidance for preparing management commentary that should improve the consistency and comparability of management commentary across jurisdictions. This is more important than ever in today's uncertain financial climate, because it contributes to good corporate governance as well as quality financial reporting that explains an entity's financial performance relative to ...
187 kB
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 | IASB seeks input on a new impairment model – July 2009 (Issue 47, Supplement to IFRS outlook)
The IASB has issued a Request for Information on the feasibility of an expected cash flow approach to impairment of financial assets as part of its project to replace IAS 39. The adoption of the expected cash flow approach should help to reduce some of the complexity of the current approach under IAS 39, but businesses may face a significant challenge in adapting their processes and information systems to obtain relevant cash flow information. This supplement summarizes the key aspects of ...
89 kB
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 | IASB issues Discussion Paper on 'own credit risk' – July 2009 (Issue 46, Supplement to IFRS outlook)
The IASB has recently published a Discussion Paper on the role of an entity's own credit risk in liability measurement, often referred to as 'own credit risk'. The scope of the DP seems to be financial and non-financial liabilities measured on a current measurement basis (including fair value). In this Supplement, we summarize the arguments presented by the IASB for and against including own credit risk and also highlight some of the potential implications. Constituents need to consider ...
245 kB
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 | IFRS outlook – July 2009
Responding to the financial crisis / Private equity funds – accounting for investments / Borrowing costs and the role of foreign currendy exchange gains or losses / Financial reporting developments / Resources
438 kB
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 | Group cash-settled share-based payment transactions – June 2009 (Issue 45, Supplement to IFRS outlook)
In an effort to provide guidance on the accounting for cash-settled share-based payment transactions, the IASB recently amended the definitions in IFRS 2 for transactions and arrangements, and the scope of the standard. In this supplement, we consider the effect of these changes and include illustrations of the potential impact of different arrangements for subsidiaries and parents. Businesses need to consider the potential tax accounting consequences of these amendments and the impact on ...
203 kB
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 | IFRS outlook – June 2009
What is going on with financial instruments? / Equity accounting: a time for change? / Financial reporting developments / Resources
435 kB
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 | ED Fair value measurement - proposals for a new standard – June 2009 (issue 43, Supplement to IFRS outlook)
In response to issues that arise when assets, liabilities and equity instruments are measured at fair value, the IASB has issued an Exposure Draft proposing a single consistent definition of fair value; the establishment of a single framework for measuring fair value; and extends disclosures required when fair value information is disclosed or used as a measurement method. The proposals are likely to result in companies having to make changes to their information systems to accommodate the ...
160 kB
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 | IASB tentative decisions on IAS 39 - May 2009 (Issue 42, Supplement to IFRS outlook)
The IASB has adopted a working premise to use a two-category approach to measure financial instruments at either: (a) fair value; or (b) amortised cost. Under this approach, the Board expects to retain a fair value option, prohibit reclassifications between the two categories, eliminate 'tainting' rules, and for certain instruments, allow presentation of fair value changes in other comprehensive income. A new Exposure Draft containing these proposals is expected in July 2009, with the final ...
145 kB
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 | Improvements to IFRSs – May 2009 (Issue 40, Supplement to IFRS outlook)
This publication summarises the IASB's second omnibus of amendments to its standards and the related Basis for Conclusions. The Improvements Project is an annual project that provides a mechanism for making necessary but non-urgent amendments. This document contains 15 amendments to 12 standards which result from the proposals that were contained in Exposure Drafts issued by the IASB.
198 kB
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 | IASB conclusions on the FASB FSPs and plans to replace IAS 39 – May 2009 (Issue 39, Supplement to IFRS outlook)
In line with its stated intention to reduce the complexity of accounting standards for financial instruments and to address issues arising from the financial crisis, the IASB has released a timetable for a comprehensive and urgent review of IAS 39 and to publish proposals within six months. The IASB has responded to the FASB's FSPs as follows: on fair value measurement, it has confirmed that the FSP is consistent with the existing guidance in IFRS and for the avoidance of doubt, ...
99 kB
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 | IFRS outlook – May 2009
Consolidations – do the proposed amendments really make things better? / Financial statement presentation – a step forward? / Financial reporting developments / Resources
368 kB
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 | IFRS outlook – April 2009
Is there a future for rate regulated assets and liabilities under IFRS? / Convertible instruments – why you should look at anti-dilution provisions / Financial reporting developments / Resources
370 kB
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 | Leases project preliminary views – March 2009 (Issue 35, Supplement to IFRS outlook)
This supplement summarizes the proposals in the Discussion Paper Leases, issued by both the IASB and FASB. This DP is the output of a joint project to develop a common lease accounting standard to ensure that the assets and liabilities arising from lease contracts are recognized in the statement of financial position. Under the proposed new model, which would eliminate operating leases, lessees would record an asset representing their right to use the leased asset during the term of the ...
156 kB
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 | Embedded Derivatives: Amendments to IFRIC 9 and IAS 39 – March 2009 (Issue 32, Supplement to IFRS outlook)
The IASB has just published Embedded Derivatives: Amendments to IFRIC 9 and IAS 39. Entities must assess whether to separate an embedded derivative from a host contract in the case where the entity reclassifies a hybrid financial asset out of the fair value through profit or loss category. The amendments to IFRIC 9 require an assessment to be made either when the entity first became party to the contract or when a change in the terms of the contract significantly modifies expected cash flows.
89 kB
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 | Amendments to IFRS 7 – March 2009 (Issue 31, Supplement to IFRS outlook)
The IASB has now finalised the amendments to IFRS 7 that are intended to enhance the disclosures for fair value measurement and liquidity risk. Entities will be required to use a 3- level hierarchy of disclosures for financial instruments recorded at fair value. Businesses will need to carefully consider whether they need to modify their management information systems and internal controls to capture both the quantitative and qualitative disclosures required by the amendments.
142 kB
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 | IFRS outlook – March 2009
IFRS for non-publicly accountable entities: much more than a change of name / IFRS 3R: avoiding the transition traps / Financial reporting developments / Resources
352 kB
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 | Proposed amendments to IFRIC 9 and IFRIC 16 – February 2009 (Issue 30, Supplement to IFRS outlook)
The IASB has issued an ED proposing amendments to IFRIC 9 - revising the scope to exclude business combinations between entities under common control and the formation of joint ventures and IFRIC 16 - allowing, in a hedge of a net investment in a foreign operation, the qualifying hedging instruments to be held by any entity or entities within the group, including the foreign operation itself, provided that all of the requirements of IAS 39 Financial Instruments: Recognition and Measurement ...
98 kB
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 | IFRS outlook – February 2009
Financial reporting in times of uncertainty / Goodwill disclosures under the microscope / Financial reporting developments / Resources
372 kB
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 | Transfers of assets from customers – February 2009 (Issue 29, Supplement to IFRS outlook)
The transfers of assets from customers to entities in sectors such as telecoms and utilities has resulted in diversity in the accounting methods used. This has led the IFRIC to issue Interpretation IFRIC 18 Transfers of Assets from Customers, providing guidance on when and how to recognise such assets. Entities will need to carefully analyse all the facts and circumstances to assess whether they actually control the assets in question and whether they need to make changes to their revenue ...
257 kB
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 | IFRS outlook – January 2009
What is next for the IASB’s extractive activities project? / Revenue recognition - a new approach / Financial reporting developments / Resources
473 kB
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 | Consolidated financial statements – December 2008 (Issue 26, Supplement to IFRS outlook)
The IASB recently issued an Exposure Draft (ED) on consolidated financial statements that would replace IAS 27 and SIC-12. The proposals contained in the ED will require entities holding investments to exercise greater judgement imposed by a new definition of control of an entity and to introduce additional procedures to make the necessary assessments, respond to changes in circumstances and to make the additional disclosures - particularly for involvement with 'Structured Entities'.
214 kB
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 | IFRS outlook – December 2008
The impact of the credit crisis on share-based payment awards / What is a business unter IFRS 3 revised? / Financial reporting developments / Resources
387 kB
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 | US SEC Roadmap – November 2008 (Issue 20, Supplement to IFRS outlook)
On 14 November 2008, the SEC issued its long-awaited proposed Roadmap for the potential use of IFRS by US issuers. The SEC’s proposal may well influence decisions made by the IASB and its parent organization, the International Accounting Standards Committee Foundation and, therefore, affect entities outside the US as well. The proposed Roadmap is the most significant step the SEC has taken towards adopting a single set of high-quality global accounting and financial reporting standards. We ...
794 kB
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 | IFRS outlook – November 2008
The road ahead for pension accounting / Easier said than done. selecting an appropriate measurement basis for insurance / Reducing complexity in reporting financial instruments / Financial reporting developments / Resources
1033 kB
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 | Reclassification of financial assets – October 2008 (Issue 16, Supplement to IFRS Outlook)
This issue provides an overview of the amendments to IAS 39 Financial Instruments: Recognition and Measurement and IFRS 7 Financial Instruments: Disclosures which allows reclassification of certain financial instruments from held for trading to either held to maturity, loans and receivables or available for sale categories under certain circumstances. In addition, it contains a preliminary analysis of some of the considerations when applying the amendment.
149 kB
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 | IFRS outlook – October 2008
The accounting profession responds to the credit crisis / Testing for impairment during financial crises and recession / Distributor arrangements / Financial reporting developments / Resources
381 kB
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 | IFRS outlook – September 2008
Feature: SEC roadmap / Technical focus: Post-employment benefits – views on proposed amendments; Guidance on the fair value of financial instruments in markets that are no longer acitve / Upcoming Comment Letters / Resources
391 kB
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 | IFRS outlook – July 2008
Executive Summary / Interview: IFRS from an analyst's perspective / Technical focus: Financial instruments with characteristics of equity / Financial reporting developments / Resources
294 kB
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 | IFRIC 15 – Agreements for the Construction of Real Estate – July 2008 (Issue 10, Supplement to IFRS Outlook)
This publication summarizes an interpretation which addresses the divergence in construction of real estate accounting treatment and clarifies when and how revenue and related expenses from the sale of a real estate unit should be recognized if an agreement between a developer and a buyer is reached before the construction of the real estate is completed. Furthermore, the interpretation provides guidance on how to determine whether an agreement is within the scope of IAS 11 or IAS 18.
153 kB
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 | IFRIC 16 Hedges of a Net Investment in a Foreign Operation – July 2008 (Issue 9, Supplement to IFRS Outlook)
This publication summarizes an interpretation which provides guidance on identifying the foreign currency risks that qualify for hedge accounting in the hedge of a net investment; where within the group the hedging instrument(s) can be held in the hedge of a net investment; and how an entity should determine the amount of foreign currency gain or loss, relating to both the net investment and the hedging instrument, to be recycled on disposal of the net investment.
236 kB
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 | IFRS outlook – June 2008
Executive summary / Featured article: Getting ready for IFRS / Technical focus: Employee terminations — cancellation or forfeiture? / Financial reporting developments / Resources
385 kB
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 | IFRS outlook – April 2008
Executive summary / Featured article: Update on SEC activities and IFRS in the US / Interview with Paul Ebling: The challenges facing EFRAG in today's changing environment / Technical focus: Certified emission reductions – how should they be accounted for? / IASB highlights / IFRIC highlights / Resources
531 kB
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