IFRS News

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IFRS News is PwC' monthly newsletter highlighting current developments at the International Accounting Standards Board (IASB) and International Financial Reporting Interpretations Committee (IFRIC).

All issues of IFRS News since 2007 inclusive a catalogue by topics are available in the PwC Global library.

Download an issue of IFRS News in pdf format:

IFRS News April 2016 (573 KB)

  • Key considerations for impairment tests - cash flows and discount rate
  • Current IC rejections - various topics
  • Leases lab - how to implement new guidance
  • Cannon Street Press - applying IFRS 9 with IFRS 4, definition of a business, goodwill and impairment, agenda consultation
  • IC rejections - IAS 17
  • Cryptic word-seek

Combined February and March 2016 (1,05 MB)

  • IFRS 16 Leases - a glance at the new standard
  • Narrow-scope amendments to IAS 12
  • Current IC rejections
  • P*Q crashes
  • Cannon Street Press - insurance contracts, revenue from contracts with customers, measurement of interest in associates and joint ventures, goodwill and impairment, interests in associated and joint ventures, non-current liabilities, FICE
  • IC rejections - IAS 12 and 16
  • Alternative performance measures
  • More guidance for banks - IFRS 9 impairment
  • IAS 7 amendment - how to implement new guidance?
  • The PwC leases library
  • The bit at the back...

Combined December and January 2016 (463 KB)

  • Revenue - the Transition Resource Group discusses optional purchases, licences and other topics;
  • Financial instruments - news from the Transition Resource Group for impairment;
  • Definition of a business - FASB exposure draft on definition of a business;
  • Year-end reminders;
  • Cannon Street Press - insurance contracts, classification and measurement of share-based payments;
  • Santa and the Leasing standard;
  • The accounting horoscope 2016;
  • IFRIC rejections - IAS 10.

Combined December and January 2016 (463 KB)

  • Revenue - the Transition Resource Group discusses optional purchases, licences and other topics;
  • Financial instruments - news from the Transition Resource Group for impairment;
  • Definition of a business - FASB exposure draft on definition of a business;
  • Year-end reminders;
  • Cannon Street Press - insurance contracts, classification and measurement of share-based payments;
  • Santa and the Leasing standard;
  • The accounting horoscope 2016;
  • IFRIC rejections - IAS 10.

November 2015 (431 KB)

  • Foreign currency and advance consideration - proposed draft interpretation;
  • Uncertainty over income tax treatments - proposed draft interpretation;
  • Application of materiality to financial statements - proposed practice statement;
  • Cannon Street Press - leases, IFRS 9 ITG, FICE, disclosure initiative, insurers and IFRS 9, borrowing costs, joint control, definition of a business;
  • IFRIC rejections - IAS 10.

Combined September and October 2015 (865 KB)

  • Impairment - an analysis of recent ESMA enforcement decision in relation fo IAS 36;
  • IFRS research - separating the facts from the hype;
  • Negative interest rates - not just for banks;
  • Financial instruments - news from the Transition Resource Group for impairment;
  • Sale or contribution of assets between an investor and its associate or joint venture;
  • Fair value - exploring the myths;
  • Insurance contracts - a summary of the IASB´s recent decision;
  • Cannon Street Press - work plan 2016 - 2020 of IASB, Insurance and IFRS 9, Disclosure Initiative;
  • IFRIC rejections - IAS 7, IAS 8.

Combined July and August 2015 (403 KB)

  • Revenue recognition - IFRS 15 ED;
  • Pension accounting requirements - ED on IAS 19 and IFRIC 14;
  • Revenue recognition - News from the Revenue TRG;
  • Cannon Street press:
    • Insurance and IFRS 9;
    • IFRS implementation issues;
    • Fair value measurement;
    • Financial instruments with characteristics of equity.
  • IFRIC rejections - IAS 2.

June 2015 (377 KB)

  • Conceptual Framework: IASB issues Exposure Draft;
  • Segment disclosures: Proposed changes arising from the IFRS 8 PIR;
  • IFRS 9 and EFRAG: Close monitoring required;
  • Cannon Street press:
    • IFRS 15 clarifications;
    • Disclosure initiative;
    • FICE research project.
  • NIFRICs by numbers: IAS 1.

May 2015 (330 KB)

  • Revenue recognition: Proposed deferral of effective date;
  • Employee benefit: IASB research project;
  • Cannon Street press:
    • Disclosure initiative;
    • Annual improvements;
    • Fair value of quated instruments.
  • Questions and answers: "Z" for Zoos and IAS 41.

April 2015 (345 KB)

  • Revenue recognition: Proposed clarifications and expedients; FASB deferral;
  • Leasing: New standard approved for ballot;
  • IFRS 15 implementation issues: March Revenue TRG meeting;
  • Cannon Street press:
    • IC discussion of IFRS 11;
    • Leasing project;
    • Disclosure initiative;
    • Conceptual framework;
  • Questions and answers: "Y" for Yields.

March 2015 (384 KB)

  • New revenue standard: Convergence under pressure;
  • Investor view: Accounting policies;
  • Cannon Street press:
    • ED on IAS 1 amendment;
    • Leasing project;
    • Rate regulated activities.
  • Questions and answers: ‘X’ for eXiting a business.

February 2015 (354 KB)

  • Financial volatility: Accounting implications;
  • Revenue TRG: January meeting;
  • IFRS in the EU: A good idea?;
  • Cannon Street press:
    • Disclosure initiative;
    • Employee Benefits.
  • Questions and answers: "W" for Written options.

December 2014 & January 2015 (400 KB)

  • Joint arrangements: IC tentative agenda decisions;
  • A present from Santa: New revenue standard;
  • Year-end reporting: Top 10 reminders;
  • Cannon Street press:
    • Investment entities: Amendments to IFRS 10 and IAS 28;
    • IAS 1 narrow scope amendments;
    • IFRS 2 proposed amendments;
    • IAS 7 proposed amendments.
  • Questions and answers: "V" for Vesting conditions.

September 2014 (481 KB)

  • Alternative performance measures: Time for ground rules;
  • IFRIC activity: The "NIFRIC";
  • Spotlight on IASB: Interview with Amaro Gomes
  • Cannon Street press.

July / August 2014 (482 KB)

  • IFRS 9 hits the streets: IASB finalise project to replace IFRS 39;
  • Revenue TRG: Transition resource group starts discussion on IFRS 15;
  • Business Combinations: ESMA reports on accounting under IFRS 3;
  • Cannon Street press.

June 2014 (381 KB)

  • New revenue standard: IASB and FASB issue new revenue standard;
  • IFRS 11 Joint arrangements: How did we get there?;
  • Cannon Street press.

May 2014 (359 KB)

  • IFRS 9 Macro Hedging: IASB's discussion paper;
  • Integrated reporting: Are we moving forward?;
  • IFRS in the US: Why it is important;
  • Cannon Street press.

April 2014 (407 KB)

  • Leases: A nail in the coffin for convergence;
  • Have you lost control? IFRS 10 practice issues;
  • OCI - here to stay?;
  • Cannon Street press.

March 2014 (479 KB)

  • Financial performance: Change on the horizon;
  • IFRS 3 - relevance versus complexity;
  • Non-viability instruments;
  • Insurance project: Convergence out of sight;
  • Cannon Street press.

February 2014 (495 KB)

  • Needs of capital providers: EFRAG and ICAS report;
  • IFRS 3 - relevance versus complexity;
  • IFRIC 21: Just ‘levies’ or much more?;
  • Businessmodel: How should it affect accounting?;
  • Cannon Street press.

December 2013/January 2014 (646 KB)

  • IFRS 9 hedging project: ‘Third phase’ published;
  • Revised pension changes: Are you ready?;
  • Non-viability instruments;
  • Closing thoughts: 1o key reminders for 2013 year-ends;
  • Cannon Street press.

December 2013/January 2014 (646 KB)

  • IFRS 9 hedging project: ‘Third phase’ published;
  • Revised pension changes: Are you ready?;
  • Non-viability instruments;
  • Closing thoughts: 1o key reminders for 2013 year-ends;
  • Cannon Street press.

November 2013 (447 kB)

  • IASB Leasing Project: The comment letters are in;
  • IASB Revenue Project: Are we there yet?;
  • Cannon Street press.

October 2013 (511 kB)

  • IFRS IC progress report: Staff report on IC activities;
  • Joint standard setting: The end of an era;
  • Conceptual framework: An "academic" view from Chris Nobes;
  • Cannon Street press.

September 2013 (558 kB)

  • IFRS adoption: IFRS foundation reports on global adoption of IFRS;
  • IFRS 9 deliberations: Comment letters are in FASB and IASB proposals;
  • Cannon Street press.

July & August 2013 (451 kB)

  • Conceptual framework: IASB publishes discussion paper;
  • Disclosures: IASB Chairman's "ten-point" plan;
  • Insurance contracts: IASB publishes exposure draft;
  • Cannon Street press.

June 2013 (444 kB)

  • Leasing: IASB publishes exposure draft;
  • IC - past and future: Wayne Upton, IC Chairman, shares his perspectives;
  • Cannon Street press.

May 2013 (477 kB)

  • Integrated reporting: IIRC publishes consultation draft;
  • Levies: IC to issue interpretation on accounting for levies;
  • Insurers face change: An update on the Insurance Contract project and other key accounting changes;
  • Cannon Street press.

April 2013 (485 kB)

  • Impairment of financial instruments - IASB publishes exposure draft;
  • Discount rate and IAS 19: IC debates the meaning of "high quality" and "a deep market";
  • IFRS for SMEs: Post implementation feedback;
  • Cannon Street press.

March 2013 (477 kB)

  • The disclosure problem: IASB takes on the challenge;
  • Improving IFRS - A point of view: Ten concrete measures for improving IFRS;
  • Profile: Mary Tokar;
  • IFRS 10 and 11: are you affected?;
  • Cannon Street press.

February 2013 (457 kB)

  • Back to basics – the IASB goes to work on the Conceptual Framework;
  • IAS 19: Are you ready?;
  • Cannon Street press.

December 2012 & January 2013 (285 kB)

  • IFRS 9 project: Making headway on financial instruments;
  • IASB Revenue project: Boards make progress;
  • IAS 19 and discount rates;
  • Impairment of non-financial assets.

December 2012 & January 2013 (285 kB)

  • IFRS 9 project: Making headway on financial instruments;
  • IASB Revenue project: Boards make progress;
  • IAS 19 and discount rates;
  • Impairment of non-financial assets.

November 2012 (349 kB)

  • Exemption from consolidating investment entities;
  • Viewpoint - are you truly happy with your accounting framework;
  • Revenue update;
  • Q&A - Associates.

October 2012 (319 kB)

  • Project on revenue recognition: key decisions outlined;
  • Leases - update;
  • IFRS quiz - Deferred tax.

September 2012 (340 kB)

  • IASB publishes hedging review draft;
  • Joint venture or joint operation? Classification of joint arrangements;
  • IFRS quiz - Operating segments.

July & August 2012 (464 kB)

  • IAS 19 (employee benefits) amendment brings significant change;
  • IASB amends IAS 1 for presentation of OCI (other comprehensive income);
  • IASB and FASB to re-expose proposed revenue standard;
  • Transition to IFRS: progress or not?

June 2012 (333 kB)

  • The latest discussions about the financial instruments project;
  • Progress with the various improvement projects;
  • Draft IFRIC on levies and on put options;
  • New appointments at the IASB and IFRS Interpretation Committee;
  • IFRF quiz: impairment of assets.

May 2012 (304 kB)

  • The second exposure draft on revenue recognition;
  • New IFRSs applicable for 2012 year-ends;
  • IFRS quiz - test your knowledge of embeded derivatives and hedge accounting.

April 2012 (333 kB)

  • Progress update on key IASB projects;
  • IFRS 1 amendment;
  • IFRS quiz - Share-based payments.

March 2012 (309 kB)

  • Related party disclosures;
  • IASB agenda consultation - Call for "period of calm";
  • John Hitchings on recent review of the IFRS Foundation’s governance;
  • IFRS quiz - Contingent consideration.

February 2012 (360 kB)

  • Eurozone and 2011 financial reporting;
  • Interview - IASB chairman Hans Hoogervorstem;
  • IFRS quiz - debt versus equity.

December 2011/January 2012 (297 kB)

  • New revenue recognition exposure draft;
  • IAS 32 amendments - Asset/liability offsetting;
  • Leasing update;
  • IFRS 9 new effective date;
  • IFRS 10 transition proposal.