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Conceptual framework for financial reporting
IFRS Conceptual framework for financial reporting
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.
10 Jun 2018
Transfer pricing guide 2018
Tax Transfer pricing guide 2018
International taxation is undergoing the biggest shake-up for a generation and the chief driver of this change is the global roll-out of the OECD’s Base Erosion and Profit Shifting (BEPS) Action Plan.
17 May 2018
Accounting for cryptocurrencies
IFRS Accounting for cryptocurrencies
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.
13 May 2018
IFRS News - Q2 2018
IFRS IFRS News - Q2 2018
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.
02 May 2018
Seeing the big strategic picture
Tax Seeing the big strategic picture
Nobody thought that complying with the Base Erosion and Profit Shifting (BEPS) transfer pricing analysis and documentation demands would be easy. Yet, the opening year has proved to make greater demands and has required more attention than many multinational enterprises (MNEs) had anticipated.
23 Apr 2018
IFRS Alert - IASB issues a revised ‘Conceptual Framework for Financial Reporting’
IFRS IFRS Alert - IASB issues a revised ‘Conceptual Framework for Financial Reporting’
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.
03 Apr 2018
Potential accounting consequences of the US tax reform
IFRS Potential accounting consequences of the US tax reform
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.
09 Feb 2018
IFRS News - Q1 2018
IFRS IFRS News - Q1 2018
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.
31 Jan 2018
Taxation in real-time: Gearing up for blockchain
Tax Taxation in real-time: Gearing up for blockchain
Blockchain is set to play a crucial role in the digitisation of taxation by providing the ‘wiring’ needed for real-time recordkeeping, verification and information exchange. Automatically fulfilled blockchain-enabled ‘smart contracts’ also offer faster and more efficient ways to evaluate and settle tax liabilities.
11 Jan 2018
Annual Improvements to IFRS Standards 2015-2017 Cycle
IFRS Annual Improvements to IFRS Standards 2015-2017 Cycle
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.
20 Dec 2017
Navigating the changes to IFRS
IFRS Navigating the changes to IFRS
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.
18 Dec 2017
IFRS News - Q4 2017
IFRS IFRS News - Q4 2017
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.
01 Nov 2017
IFRS 9 - Audit of Expected Credit Losses
IFRS IFRS 9 - Audit of Expected Credit Losses
GPPC releases Considerations for the Audit of Expected Credit Losses. This Paper is addressed to the audit committees of systemically important financial institutions. It represents the consensus views of the GPPC members regarding key considerations for auditors of globally systemically important banks.
30 Oct 2017
IASB issues: Prepayment features with negative compensation
IFRS IASB issues: Prepayment features with negative compensation
The International Accounting Standards Board (IASB) has published amendments to IFRS 9 ‘Financial Instruments’ that allow companies to measure particular prepayable financial assets with negative compensation at amortised cost or at fair value through other comprehensive income—instead of measuring those assets at fair value through profit or loss
26 Oct 2017
IAS 28 ‘Investments in Associates and Joint Ventures’
IFRS IAS 28 ‘Investments in Associates and Joint Ventures’
The International Accounting Standards Board (IASB) has published amendments to IAS 28 ‘Investments in Associates and Joint Ventures’ clarifying that companies account for long-term interests in an associate or joint venture—to which the equity method is not applied—using IFRS 9 ‘Financial Instruments’.
15 Oct 2017
Reduced tax liabilities and burden for individual taxpayers
TAX Reduced tax liabilities and burden for individual taxpayers
Reduced tax liabilities and burden for individual taxpayers; Thailand as the 139th member of the Global Forum on Transparency & Exchange on Information for Tax Purposes.
01 Feb 2017