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Ernst & Young: IFRS outlook - November 201 Mittwoch, 12. Dezember 2012 - 10:49

FRS outlook November 2012

Lease classification to remain - what are some possible implications? Since 2006, the IASB and the FASB (the Boards) have been discussing the accounting for leases. The Boards published a joint exposure draft (ED) in August 2010 and began re-deliberations in early 2011 to address feedback received on it. Learn more about the Boards' recent decision to retain lease classification (although in a different form), which is expected to be included in the revised ED along with some of some potential implications.

IFRS Foundation publishes analysis of the SEC staff's final report on IFRS The IFRS Foundation has published its staff analysis, Report to the Trustees of the IFRS Foundation IFRS Foundation staff analysis of the SEC Final Staff Report addressing issues such as: IFRS as global accounting standards; the IASB as a global standard-setter, and the challenges for US transition. Read more about the findings and views of the IFRS Foundation staff.

Spotlight on Canada: IFRS adoption in Canada IFRS has been mandatory for publically accountable entities in Canada since 2011, but remains optional for private enterprises. The decision to adopt IFRS has had a far-reaching impact in Canada and all those involved with accounting and financial reporting have had to invest time and effort into understanding IFRS. Read more about the challenges faced and lessons learned on Canada's adoption of IFRS.

IFRS project update Find out which projects the IASB and the IFRS Interpretations Committee are currently discussing.

Resources Look here for an up to date list of our recent publications.

IFRS Developments

Issue 43 October 2012

IFRS Developments Issue 43 / October 2012

IFRS Foundation publishes analysis of the SEC staff's final report on IFRS

Issue 44 October 2012

IFRS Developments Issue 44 / October 2012

Investment entities final amendment exception to consolidation

Issue 45 November 2012

Proposed annual improvements to IFRS, 20112013 cycle

Issue 46 November 2012

The Boards progress on revenue recognition re-deliberations

Publications

Fair Value Measurement November 2012

Applying IFRS IFRS 13 Fair Value Measurement

IFRS Core Tools

Based on International Financial Reporting Standards in issue at 30 September 2012

IFRS Update

IFRS update of standards and interpretations in issue at 30 September 2012

Good Group (International) Limited International GAAP®

Illustrative financial statements for the year ended 31 December 2012 based on International Financial Reporting Standards in issue at 30 September 2012

 

Please feel free to pass this newsletter along to your colleagues or anyone else that you think would be interested.

Yours sincerely

Chris Schibler Partner IFRS Desk Switzerland Eric Ohlund Partner IFRS Desk Switzerland

 

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