IFRS: Global developments

Find out about the latest International Financial Reporting Standards (IFRS) developments and read articles from our IFRS specialists.

IFRS: Revenue recognition

The IASB is undertaking a joint project with FASB on revenue recognition. The standard setters have returned to basics to develop concepts for revenue recognition, with a discussion paper due for release later in 2008. Members of PwC's accounting consulting services group discuss the project and forthcoming discussion paper in a short video.

• Find out more and watch the video

The greater risk of impairment in today's market conditions

Entities are likely to record impairments for the first time under the new standards at June 2008. The changes to market conditions have meant that impairment test triggers are all around us. This will impact entities that identify triggers that indicate their assets may be impaired (ie, due to increased interest rates or a significant decline in the asset’s value). These entities must conduct an impairment test. It has a potential impact on these entities' profit and loss statements, balance sheets, disclosure obligations, and communication with their stakeholders.

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Download articles in PDF format :

• Download IASB aims to reduce complexity (143kb)
  Proposals to ease financial instruments problems

• Download Business combinations (152kb)
  IASB finally completes second phase

• Download Korea survey (161kb)
  Waking up to the realities of IFRS

• Download Pension changes (152kb)
  Act now to influence the debate
  
  
  

Read more articles of IFRS developments in our regular corporate reporting newsletter World watch.