The IASB/FASB joint project on revenue is nearing completion. This paper explains the key impacts on the telecom industry and investigates some ways in which the industry might respond. We address: Why telecom operators have severe reservations about aspects of the proposed new standard and ways in which operators might respond to the new accounting rules, by making changes to their commercial models or by developing practical methods to apply the more onerous requirements.
TThe IASB and FASB recently issued their exposure draft on leasing. To address perceived weaknesses in reporting leasing transactions in existing GAAP, they plan to require lessees to report all leased assets on the balance sheet together with the equivalent financing liability. The impact on lessee and lessor financial reporting, asset financing, IT, systems and controls could be substantial.
This paper describes the issues typically encountered by operators in accounting for deferred tax assets and provides practical guidance on how to make, and support, the difficult judgments that are often required.
This white paper considers the accounting issues related to impairment tests under IAS 36 Impairment of Assets in the telecommunications industry.
The issuance by the International Financial Reporting Interpretations Committee (IFRIC) of IFRIC 13, Customer Loyalty Programmes, has implications for telecom operators. This publication considers the accounting and the practical implications that arise from the guidance in IFRIC 13.
As telecommunications companies adopt the new International Financial Reporting Standard, IFRS 8 Operating Segments, they may face challenges in defining and reporting segmental information. This paper is intended to provoke thought and identify some of the issues that companies may encounter as they apply the provisions of the standard.
This paper considers the IASB/FASB discussion paper and its potential impact on the telecoms industry.