IFRS news - July/August 2012

IFRS news 08/06/2012 by Assurance services

PwC's monthly report shedding light on the IASB's activities. The July/August 2012 edition looks at:

  • Financial instruments - impairment model update
    IASB and FASB update regarding a "three-bucket" impairment model for financial assets. FASB will not move forward with an exposure draft on the "three bucket" impairment model and will instead explore a revised approach
  • EU endorsement - later effective dates in EU for some standards
    Five standards to have different effective date in the EU vs rest of the world
  • Cannon Street Press
    Update on leasing and revenue projects, SEC's final report on IFRS "work plan," amendments to transition guidance for IFRSs 10, 11, and 12, and IFRS IC discusses accounting for rate-regulated activities
  • IFRS quiz
    Cash flow statement
  • Country profile
    Russia