Publications

Our IFRS publications address the following commonly asked questions: What are the requirements of IFRS? What does changing to IFRS involve? How does IFRS compare to other accounting frameworks? What do IFRS financial statements look like? Where can I get advice on applying and interpreting IFRS?

See our publications below for answers to these and other IFRS implementation questions.

For a printable overview of available publications, please view our publications catalogue

Browse PwC's IFRS publications

PwC IFRS pocket guide 2016

16 Nov 2016

Our IFRS pocket guide provides a summary of the recognition and measurement requirements of IFRSs issued up to August 2016. This quick-reference guide is intended for a variety of audiences, including finance directors, financial controllers and other members of the finance team, as well as broader management, actuaries, lawyers, merchant bankers and analysts.

Illustrative IFRS financial statements - Investment property 2016

09 Nov 2016

This publication provides an illustrative set of consolidated financial statements, prepared in accordance with IFRS, for a fictional investment property group (IP Group). The Group prepares its consolidated financial statements in accordance with IFRS as issued by the IASB (that is, it does not prepare the consolidated financial statements in accordance with IFRS as adopted by the European Union).

PwC IFRS News - November 2016

08 Nov 2016

The November 2016 issue includes: IFRS 15 – Time is running out regulators focus on new standard disclosure, Beware of VIU - Common pitfalls of the impairment VIU model, Cannon Street Press, Disclosure initiative, Conceptual framework, Operating Segments, IFRIC Update, FICE, Leases Lab Predetermined use contracts, Demystifying IFRS 9 Significant increase in credit risk, IC rejections IAS 26.

Illustrative IFRS financial statements - Investment funds 2016

08 Nov 2016

This publication is based on the requirements of IFRS standards and interpretations for the financial year beginning on 1 January 2016. There were no new standards or amendments effective for annual periods beginning on 1 January 2016 which had a material impact on the example fund. As a result, our 2016 edition is largely consistent with our 2015 publication. A new feature in this year's edition is the inclusion of hyperlinks which make it easier to navigate between sections and find related information.

IFRS 9 myth busters

26 Oct 2016

IFRS 9 may be the biggest change in accounting by banks in living memory. Impairment is tricky enough. Don't fall for the myths.

The Emperor Augustus

19 Oct 2016

Who knew that Augustus, the acknowledged founder of the Roman empire, is the spiritual father of accounting? What would he make of the Standard setting agenda today?

PwC IFRS News - September/October 2016

06 Oct 2016

The Sept/Oct 2016 issue includes: IFRS 4 Phase II - The impact of the new insurance standard, IFRS 9 Myth busters - The facts of IFRS 9 Cannon Street Press - Changes in policy & estimate; Long term interests; FICE; Conceptual framework, Leases lab - Foreign currency, IC rejections - IAS 24.

IFRS 4, IFRS 9 - IASB issues amendments to IFRS 4, 'Insurance contracts' regarding the implementation of IFRS 9, 'Financial instruments' - PwC In brief

13 Sep 2016

On 12 September 2016, the International Accounting Standards Board (IASB) published an amendment to IFRS 4, ‘Insurance contracts’. This addresses the concerns of insurance companies about the different effective dates of IFRS 9, ‘Financial instruments’, and the forthcoming new insurance contracts standard. The amendment to IFRS 4 provides two different solutions for insurance companies: a temporary exemption from IFRS 9 for entities that meet specific requirements (applied at the reporting entity level); and the ‘overlay approach’. Both approaches are optional.

PwC IFRS News - August 2016

11 Aug 2016

The August 2016 issue includes: Income taxes - The end of an era, variable payments for the separate acquisition of PPE and intangible assets, decommissioning liabilities and impairment testing, current IC rejections - Various topics, difficulties in translating IFRSs, Cannon Street press: Conceptual framework; Financial Instruments with Characteristics of Equity, Leases lab - Communications industry, IC rejections - IAS 23.

Accounting for government loans to fund research and development: PwC In brief

01 Aug 2016

The IFRS Interpretations Committee (IC) has concluded that contingently repayable cash received from a government to finance a research and development (R&D) project is a financial liability under IFRS 9, 'Financial instruments' (same conclusion under IAS 32, 'Financial instruments; Presentation'). The liability is initially recognised at fair value, any difference between the cash received and the fair value of the liability is a government grant, accounted for under IAS 20, 'Government grants'. This In brief looks at the impact of this issue.

Variable payments for the separate acquisition of PPE and intangible assets - PwC In brief

01 Aug 2016

The IFRS Interpretations Committee (IC) has declined to address accounting for variable payments for the purchase of intangible assets and property, plant and equipment. The current diverse practice is expected to continue. The issue has been the subject of discussions at the IC and at the IASB for several years. The IC finally concluded in March 2016 that the issue was too broad for it to address and published a formal decision not to add this issue to its agenda. This In brief looks at the impact and provides an insight into the issue.

Counterpoint: Should OCI be a recycle-bin or an elephant’s graveyard?

26 Jul 2016

Is 'other comprehensive income' appropriate as a permanent resting place?

IAS 36; Impact of a decommissioning liability in determining the recoverable amount of a CGU - PwC In brief

20 Jul 2016

Most liabilities are ignored when calculating recoverable amounts in impairment testing. However certain liabilities, such as decommissioning and restoration liabilities cannot be separated from the related assets. This presents challenges when applying both the ‘fair value less costs of disposal’ (FVLCOD) approach and the ‘value in use’ (VIU) approach. The IFRS Interpretations Committee (IC) considered how to apply the current guidance to a VIU calculation. The IC declined to take the issue on to the agenda as the guidance on VIU is clear, therefore neither an Interpretation nor an amendment to IAS 36 was necessary. This In brief looks at the impact and provides an insight into the issue.

PwC IFRS News - July 2016

05 Jul 2016

The July 2016 issue includes: Alternative performance measures: Do’s and don’ts, Definition of a business: What will change?, Interim reporting reminders, IFRS 2 amendments: What will change for share-based payment accounting?, Cannon Street Press: Insurance contracts; Previously held interests; Conceptual Framework; Income taxes, Leases lab: Impact on systems and processes, IC rejections: IAS 21, Appendix: ‘Brexit’ Alert.

Impact of UK referendum result on financial reports - PwC In brief

24 Jun 2016

Now that the UK has voted to leave the EU, there will be a protracted period of negotiation, and many months of uncertainty as the detailed political and legal issues are worked out and the real impact of leaving unfolds. It will be at least two years, and probably longer, until the UK actually leaves the EU. This uncertainty will likely impact all UK businesses and those that do business/ invest in the UK. There has been an immediate impact on the financial markets, both in the UK and overseas, with the pound significantly weakening against other currencies and share prices fluctuating as the market reacts to the decision. For entities that are reporting either full year or interim results at 30 June, there is a need to consider a number of accounting and reporting issues. This In brief provides an overview of some potential issues and the relevant guidance under IFRS.

Illustrative IFRS consolidated financial statements for 2016 year ends

22 Jun 2016

This publication presents the sample annual financial reports of a fictional listed company, VALUE IFRS Plc. It illustrates the financial reporting requirements that would apply to such a company under IFRS as issued at 31 May 2016. Supporting commentary is also provided. For the purposes of this publication, VALUE IFRS Plc is listed on a fictive Stock Exchange and is the parent entity in a consolidated entity. VALUE IFRS Plc 2016 is for illustrative purposes only and should be used in conjunction with the relevant financial reporting standards and any other reporting pronouncements and legislation applicable in specific jurisdictions.

IFRS 9 - The implementation of impairment requirements by banks - GPPC paper and PwC In brief

17 Jun 2016

As announced in a press release from the Global Public Policy Committee (GPPC), the GPPC have published a paper providing practical assistance to banks implementing the new IFRS 9 impairment requirements. The aim of the paper is to promote the implementation of accounting for expected credit losses to a high standard. A short webcast and audio-only podcast version are also available, providing further insight into the objective and contents of this new paper. This In brief explores the paper in further detail.

Manual of accounting – Interim financial reporting 2016

09 Jun 2016

This publication provides comprehensive guidance on preparing interim financial reports under IAS 34 as well as an illustrative set of condensed interim financial statements for the six months to 30 June 2016, including additional guidance in ‘commentary’ boxes on how to present this information. The financial statements comply with IFRSs as issued at 30 September 2015 and that apply to annual reporting periods commencing on or after 1 January 2016.

IFRS News - June 2016

06 Jun 2016

The June 2016 issue includes Investor survey - Impact on corporate reporting, IFRS 15 and the insurance industry - An overview, IFRS 9 Financial Instruments - Questions and answers, Cannon Street Press: Agenda Consultation; Insurance and IFRS 9; IFRS 2 Share-based payments; Conceptual Framework; Disclosure Initiative; Equity method of accounting, Leases lab - How to implement the new guidance?, IC rejections - IAS 19.

IFRS 15 - Revenue recognition for the insurance industry - PwC In depth

11 May 2016

Insurance contracts are outside the scope of IFRS 15, but insurance entities that render other services will be affected. Insurance entities will need to consider changes that might be necessary to information technology systems, processes and internal controls, to capture new data and to address changes in financial reporting. In depth INT2014-02 is a comprehensive analysis of the revenue standard. This supplement discusses some of the more significant changes for insurance entities.

PwC IFRS pocket guide 2016

16/11/16

Our IFRS pocket guide provides a summary of the recognition and measurement requirements of IFRSs issued up to August 2016. This quick-reference guide is intended for a variety of audiences, including finance directors, financial controllers and other members of the finance team, as well as broader management, actuaries, lawyers, merchant bankers and analysts.

Illustrative IFRS financial statements - Investment property 2016

09/11/16

This publication provides an illustrative set of consolidated financial statements, prepared in accordance with IFRS, for a fictional investment property group (IP Group). The Group prepares its consolidated financial statements in accordance with IFRS as issued by the IASB (that is, it does not prepare the consolidated financial statements in accordance with IFRS as adopted by the European Union).

PwC IFRS News - November 2016

08/11/16

The November 2016 issue includes: IFRS 15 – Time is running out regulators focus on new standard disclosure, Beware of VIU - Common pitfalls of the impairment VIU model, Cannon Street Press, Disclosure initiative, Conceptual framework, Operating Segments, IFRIC Update, FICE, Leases Lab Predetermined use contracts, Demystifying IFRS 9 Significant increase in credit risk, IC rejections IAS 26.

Illustrative IFRS financial statements - Investment funds 2016

08/11/16

This publication is based on the requirements of IFRS standards and interpretations for the financial year beginning on 1 January 2016. There were no new standards or amendments effective for annual periods beginning on 1 January 2016 which had a material impact on the example fund. As a result, our 2016 edition is largely consistent with our 2015 publication. A new feature in this year's edition is the inclusion of hyperlinks which make it easier to navigate between sections and find related information.

IFRS 9 myth busters

26/10/16

IFRS 9 may be the biggest change in accounting by banks in living memory. Impairment is tricky enough. Don't fall for the myths.

The Emperor Augustus

19/10/16

Who knew that Augustus, the acknowledged founder of the Roman empire, is the spiritual father of accounting? What would he make of the Standard setting agenda today?

PwC IFRS News - September/October 2016

06/10/16

The Sept/Oct 2016 issue includes: IFRS 4 Phase II - The impact of the new insurance standard, IFRS 9 Myth busters - The facts of IFRS 9 Cannon Street Press - Changes in policy & estimate; Long term interests; FICE; Conceptual framework, Leases lab - Foreign currency, IC rejections - IAS 24.

IFRS 4, IFRS 9 - IASB issues amendments to IFRS 4, 'Insurance contracts' regarding the implementation of IFRS 9, 'Financial instruments' - PwC In brief

13/09/16

On 12 September 2016, the International Accounting Standards Board (IASB) published an amendment to IFRS 4, ‘Insurance contracts’. This addresses the concerns of insurance companies about the different effective dates of IFRS 9, ‘Financial instruments’, and the forthcoming new insurance contracts standard. The amendment to IFRS 4 provides two different solutions for insurance companies: a temporary exemption from IFRS 9 for entities that meet specific requirements (applied at the reporting entity level); and the ‘overlay approach’. Both approaches are optional.

PwC IFRS News - August 2016

11/08/16

The August 2016 issue includes: Income taxes - The end of an era, variable payments for the separate acquisition of PPE and intangible assets, decommissioning liabilities and impairment testing, current IC rejections - Various topics, difficulties in translating IFRSs, Cannon Street press: Conceptual framework; Financial Instruments with Characteristics of Equity, Leases lab - Communications industry, IC rejections - IAS 23.

Accounting for government loans to fund research and development: PwC In brief

01/08/16

The IFRS Interpretations Committee (IC) has concluded that contingently repayable cash received from a government to finance a research and development (R&D) project is a financial liability under IFRS 9, 'Financial instruments' (same conclusion under IAS 32, 'Financial instruments; Presentation'). The liability is initially recognised at fair value, any difference between the cash received and the fair value of the liability is a government grant, accounted for under IAS 20, 'Government grants'. This In brief looks at the impact of this issue.

Variable payments for the separate acquisition of PPE and intangible assets - PwC In brief

01/08/16

The IFRS Interpretations Committee (IC) has declined to address accounting for variable payments for the purchase of intangible assets and property, plant and equipment. The current diverse practice is expected to continue. The issue has been the subject of discussions at the IC and at the IASB for several years. The IC finally concluded in March 2016 that the issue was too broad for it to address and published a formal decision not to add this issue to its agenda. This In brief looks at the impact and provides an insight into the issue.

Counterpoint: Should OCI be a recycle-bin or an elephant’s graveyard?

26/07/16

Is 'other comprehensive income' appropriate as a permanent resting place?

IAS 36; Impact of a decommissioning liability in determining the recoverable amount of a CGU - PwC In brief

20/07/16

Most liabilities are ignored when calculating recoverable amounts in impairment testing. However certain liabilities, such as decommissioning and restoration liabilities cannot be separated from the related assets. This presents challenges when applying both the ‘fair value less costs of disposal’ (FVLCOD) approach and the ‘value in use’ (VIU) approach. The IFRS Interpretations Committee (IC) considered how to apply the current guidance to a VIU calculation. The IC declined to take the issue on to the agenda as the guidance on VIU is clear, therefore neither an Interpretation nor an amendment to IAS 36 was necessary. This In brief looks at the impact and provides an insight into the issue.

PwC IFRS News - July 2016

05/07/16

The July 2016 issue includes: Alternative performance measures: Do’s and don’ts, Definition of a business: What will change?, Interim reporting reminders, IFRS 2 amendments: What will change for share-based payment accounting?, Cannon Street Press: Insurance contracts; Previously held interests; Conceptual Framework; Income taxes, Leases lab: Impact on systems and processes, IC rejections: IAS 21, Appendix: ‘Brexit’ Alert.

Impact of UK referendum result on financial reports - PwC In brief

24/06/16

Now that the UK has voted to leave the EU, there will be a protracted period of negotiation, and many months of uncertainty as the detailed political and legal issues are worked out and the real impact of leaving unfolds. It will be at least two years, and probably longer, until the UK actually leaves the EU. This uncertainty will likely impact all UK businesses and those that do business/ invest in the UK. There has been an immediate impact on the financial markets, both in the UK and overseas, with the pound significantly weakening against other currencies and share prices fluctuating as the market reacts to the decision. For entities that are reporting either full year or interim results at 30 June, there is a need to consider a number of accounting and reporting issues. This In brief provides an overview of some potential issues and the relevant guidance under IFRS.

Illustrative IFRS consolidated financial statements for 2016 year ends

22/06/16

This publication presents the sample annual financial reports of a fictional listed company, VALUE IFRS Plc. It illustrates the financial reporting requirements that would apply to such a company under IFRS as issued at 31 May 2016. Supporting commentary is also provided. For the purposes of this publication, VALUE IFRS Plc is listed on a fictive Stock Exchange and is the parent entity in a consolidated entity. VALUE IFRS Plc 2016 is for illustrative purposes only and should be used in conjunction with the relevant financial reporting standards and any other reporting pronouncements and legislation applicable in specific jurisdictions.

IFRS 9 - The implementation of impairment requirements by banks - GPPC paper and PwC In brief

17/06/16

As announced in a press release from the Global Public Policy Committee (GPPC), the GPPC have published a paper providing practical assistance to banks implementing the new IFRS 9 impairment requirements. The aim of the paper is to promote the implementation of accounting for expected credit losses to a high standard. A short webcast and audio-only podcast version are also available, providing further insight into the objective and contents of this new paper. This In brief explores the paper in further detail.

Manual of accounting – Interim financial reporting 2016

09/06/16

This publication provides comprehensive guidance on preparing interim financial reports under IAS 34 as well as an illustrative set of condensed interim financial statements for the six months to 30 June 2016, including additional guidance in ‘commentary’ boxes on how to present this information. The financial statements comply with IFRSs as issued at 30 September 2015 and that apply to annual reporting periods commencing on or after 1 January 2016.

IFRS News - June 2016

06/06/16

The June 2016 issue includes Investor survey - Impact on corporate reporting, IFRS 15 and the insurance industry - An overview, IFRS 9 Financial Instruments - Questions and answers, Cannon Street Press: Agenda Consultation; Insurance and IFRS 9; IFRS 2 Share-based payments; Conceptual Framework; Disclosure Initiative; Equity method of accounting, Leases lab - How to implement the new guidance?, IC rejections - IAS 19.

IFRS 15 - Revenue recognition for the insurance industry - PwC In depth

11/05/16

Insurance contracts are outside the scope of IFRS 15, but insurance entities that render other services will be affected. Insurance entities will need to consider changes that might be necessary to information technology systems, processes and internal controls, to capture new data and to address changes in financial reporting. In depth INT2014-02 is a comprehensive analysis of the revenue standard. This supplement discusses some of the more significant changes for insurance entities.

PwC IFRS pocket guide 2016

November 16, 2016

Our IFRS pocket guide provides a summary of the recognition and measurement requirements of IFRSs issued up to August 2016. This quick-reference guide is intended for a variety of audiences, including finance directors, financial controllers and other members of the finance team, as well as broader management, actuaries, lawyers, merchant bankers and analysts.

Illustrative IFRS financial statements - Investment property 2016

November 09, 2016

This publication provides an illustrative set of consolidated financial statements, prepared in accordance with IFRS, for a fictional investment property group (IP Group). The Group prepares its consolidated financial statements in accordance with IFRS as issued by the IASB (that is, it does not prepare the consolidated financial statements in accordance with IFRS as adopted by the European Union).

PwC IFRS News - November 2016

November 08, 2016

The November 2016 issue includes: IFRS 15 – Time is running out regulators focus on new standard disclosure, Beware of VIU - Common pitfalls of the impairment VIU model, Cannon Street Press, Disclosure initiative, Conceptual framework, Operating Segments, IFRIC Update, FICE, Leases Lab Predetermined use contracts, Demystifying IFRS 9 Significant increase in credit risk, IC rejections IAS 26.

Illustrative IFRS financial statements - Investment funds 2016

November 08, 2016

This publication is based on the requirements of IFRS standards and interpretations for the financial year beginning on 1 January 2016. There were no new standards or amendments effective for annual periods beginning on 1 January 2016 which had a material impact on the example fund. As a result, our 2016 edition is largely consistent with our 2015 publication. A new feature in this year's edition is the inclusion of hyperlinks which make it easier to navigate between sections and find related information.

IFRS 9 myth busters

October 26, 2016

IFRS 9 may be the biggest change in accounting by banks in living memory. Impairment is tricky enough. Don't fall for the myths.

The Emperor Augustus

October 19, 2016

Who knew that Augustus, the acknowledged founder of the Roman empire, is the spiritual father of accounting? What would he make of the Standard setting agenda today?

PwC IFRS News - September/October 2016

October 06, 2016

The Sept/Oct 2016 issue includes: IFRS 4 Phase II - The impact of the new insurance standard, IFRS 9 Myth busters - The facts of IFRS 9 Cannon Street Press - Changes in policy & estimate; Long term interests; FICE; Conceptual framework, Leases lab - Foreign currency, IC rejections - IAS 24.

IFRS 4, IFRS 9 - IASB issues amendments to IFRS 4, 'Insurance contracts' regarding the implementation of IFRS 9, 'Financial instruments' - PwC In brief

September 13, 2016

On 12 September 2016, the International Accounting Standards Board (IASB) published an amendment to IFRS 4, ‘Insurance contracts’. This addresses the concerns of insurance companies about the different effective dates of IFRS 9, ‘Financial instruments’, and the forthcoming new insurance contracts standard. The amendment to IFRS 4 provides two different solutions for insurance companies: a temporary exemption from IFRS 9 for entities that meet specific requirements (applied at the reporting entity level); and the ‘overlay approach’. Both approaches are optional.

PwC IFRS News - August 2016

August 11, 2016

The August 2016 issue includes: Income taxes - The end of an era, variable payments for the separate acquisition of PPE and intangible assets, decommissioning liabilities and impairment testing, current IC rejections - Various topics, difficulties in translating IFRSs, Cannon Street press: Conceptual framework; Financial Instruments with Characteristics of Equity, Leases lab - Communications industry, IC rejections - IAS 23.

Accounting for government loans to fund research and development: PwC In brief

August 01, 2016

The IFRS Interpretations Committee (IC) has concluded that contingently repayable cash received from a government to finance a research and development (R&D) project is a financial liability under IFRS 9, 'Financial instruments' (same conclusion under IAS 32, 'Financial instruments; Presentation'). The liability is initially recognised at fair value, any difference between the cash received and the fair value of the liability is a government grant, accounted for under IAS 20, 'Government grants'. This In brief looks at the impact of this issue.

Variable payments for the separate acquisition of PPE and intangible assets - PwC In brief

August 01, 2016

The IFRS Interpretations Committee (IC) has declined to address accounting for variable payments for the purchase of intangible assets and property, plant and equipment. The current diverse practice is expected to continue. The issue has been the subject of discussions at the IC and at the IASB for several years. The IC finally concluded in March 2016 that the issue was too broad for it to address and published a formal decision not to add this issue to its agenda. This In brief looks at the impact and provides an insight into the issue.

Counterpoint: Should OCI be a recycle-bin or an elephant’s graveyard?

July 26, 2016

Is 'other comprehensive income' appropriate as a permanent resting place?

IAS 36; Impact of a decommissioning liability in determining the recoverable amount of a CGU - PwC In brief

July 20, 2016

Most liabilities are ignored when calculating recoverable amounts in impairment testing. However certain liabilities, such as decommissioning and restoration liabilities cannot be separated from the related assets. This presents challenges when applying both the ‘fair value less costs of disposal’ (FVLCOD) approach and the ‘value in use’ (VIU) approach. The IFRS Interpretations Committee (IC) considered how to apply the current guidance to a VIU calculation. The IC declined to take the issue on to the agenda as the guidance on VIU is clear, therefore neither an Interpretation nor an amendment to IAS 36 was necessary. This In brief looks at the impact and provides an insight into the issue.

PwC IFRS News - July 2016

July 05, 2016

The July 2016 issue includes: Alternative performance measures: Do’s and don’ts, Definition of a business: What will change?, Interim reporting reminders, IFRS 2 amendments: What will change for share-based payment accounting?, Cannon Street Press: Insurance contracts; Previously held interests; Conceptual Framework; Income taxes, Leases lab: Impact on systems and processes, IC rejections: IAS 21, Appendix: ‘Brexit’ Alert.

Impact of UK referendum result on financial reports - PwC In brief

June 24, 2016

Now that the UK has voted to leave the EU, there will be a protracted period of negotiation, and many months of uncertainty as the detailed political and legal issues are worked out and the real impact of leaving unfolds. It will be at least two years, and probably longer, until the UK actually leaves the EU. This uncertainty will likely impact all UK businesses and those that do business/ invest in the UK. There has been an immediate impact on the financial markets, both in the UK and overseas, with the pound significantly weakening against other currencies and share prices fluctuating as the market reacts to the decision. For entities that are reporting either full year or interim results at 30 June, there is a need to consider a number of accounting and reporting issues. This In brief provides an overview of some potential issues and the relevant guidance under IFRS.

Illustrative IFRS consolidated financial statements for 2016 year ends

June 22, 2016

This publication presents the sample annual financial reports of a fictional listed company, VALUE IFRS Plc. It illustrates the financial reporting requirements that would apply to such a company under IFRS as issued at 31 May 2016. Supporting commentary is also provided. For the purposes of this publication, VALUE IFRS Plc is listed on a fictive Stock Exchange and is the parent entity in a consolidated entity. VALUE IFRS Plc 2016 is for illustrative purposes only and should be used in conjunction with the relevant financial reporting standards and any other reporting pronouncements and legislation applicable in specific jurisdictions.

IFRS 9 - The implementation of impairment requirements by banks - GPPC paper and PwC In brief

June 17, 2016

As announced in a press release from the Global Public Policy Committee (GPPC), the GPPC have published a paper providing practical assistance to banks implementing the new IFRS 9 impairment requirements. The aim of the paper is to promote the implementation of accounting for expected credit losses to a high standard. A short webcast and audio-only podcast version are also available, providing further insight into the objective and contents of this new paper. This In brief explores the paper in further detail.

Manual of accounting – Interim financial reporting 2016

June 09, 2016

This publication provides comprehensive guidance on preparing interim financial reports under IAS 34 as well as an illustrative set of condensed interim financial statements for the six months to 30 June 2016, including additional guidance in ‘commentary’ boxes on how to present this information. The financial statements comply with IFRSs as issued at 30 September 2015 and that apply to annual reporting periods commencing on or after 1 January 2016.

IFRS News - June 2016

June 06, 2016

The June 2016 issue includes Investor survey - Impact on corporate reporting, IFRS 15 and the insurance industry - An overview, IFRS 9 Financial Instruments - Questions and answers, Cannon Street Press: Agenda Consultation; Insurance and IFRS 9; IFRS 2 Share-based payments; Conceptual Framework; Disclosure Initiative; Equity method of accounting, Leases lab - How to implement the new guidance?, IC rejections - IAS 19.

IFRS 15 - Revenue recognition for the insurance industry - PwC In depth

May 11, 2016

Insurance contracts are outside the scope of IFRS 15, but insurance entities that render other services will be affected. Insurance entities will need to consider changes that might be necessary to information technology systems, processes and internal controls, to capture new data and to address changes in financial reporting. In depth INT2014-02 is a comprehensive analysis of the revenue standard. This supplement discusses some of the more significant changes for insurance entities.