Insights

The Federation of Accounting Professions announced a new standard on accounting for financial instruments which application will be effective date on 1 January 2020. The new TFRS 9 is based on IFRS 9 issued by The International Accounting Standard Board which fundamentally rewrites the accounting rules for financial instruments.

IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.

Currently, IFRS does not provide specific guidance on accounting for crypto assets. This IFRS Viewpoint seeks to explore the accounting issues that arise for miners and validators in mining and maintaining the blockchain in accordance with existing IFRS.

IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.

The new leasing standard - IFRS 16 'Leases' has been issued by the IASB. The core principle of the new standard is that lessees should recognise all leases on their balance sheet.

The IASB has published a revised Conceptual Framework that clarifies and updates its existing guidance that was published in 1989 and updated in 2010. It also fills gaps in areas where there was no or only little guidance.

Much has been made of the Thai government’s commitment to developing a modern industrial base. In large part, the praise from the business community has been deserved. Concerted efforts include a range of initiatives, from a detailed program of BOI incentives, to the fast-tracking of business permits across industries, to the ambitious upgrades in infrastructure and government support that are making the Eastern Economic Corridor a highly promising region for manufacturing.

The popularity of cryptocurrencies has soared in recent years, yet they do not fit easily within IFRS’ financial reporting structure. For example, an approach of accounting for holdings of cryptocurrencies at fair value through profit or loss may seem intuitive but is incompatible with the requirements of IFRS in most circumstances.

China’s One Belt, One Road outbound investment strategy presents a wealth of opportunity along major global land and maritime trade routes. But how can business owners outside China take advantage?

IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.

Welcome to our International Financial Reporting Standards (IFRS) hub that collect all alert and update about IFRS.

IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.

On 22 December 2017, the president of the United States signed into law the ‘Tax Cuts and Jobs Act’. The Act is a sweeping reform of US taxation which is likely to have a significant impact on financial statements prepared under IFRS for entities with US operations.

IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.

We have published the IFRS Alert 2017 - 07: IASB issues 'Annual Improvements to IFRS Standards 2015-2017 Cycle'. The Annual Improvements address minor, but necessary, changes to various IFRS Standards to clarify wording or eliminate inconsistencies between Standards.

The December 2017 edition of the publication has been updated for changes to International Financial Reporting Standards that have been published between 1 December 2016 and 30 November 2017. In particular this edition covers the new Standard for insurance contracts – IFRS 17, for the first time.