IFRS news - November 2018
This edition discusses definition of business in IFRS 3, amendments to definition of material, IFRS 17, and more.
International Accounting Standards Board (IASB)
The IASB is the independent standard-setting body of the IFRS Foundation responsible for the development and publication of IFRSs and for approving Interpretations of IFRSs as developed by the IFRS Interpretations Committee.
Website: www.ifrs.org
PwC resources
IFRS news - October 2018
This edition discusses hedge accounting, cryptographic assets and related transactions, and more.
IFRS and US GAAP Similarities and Differences
Interested in US GAAP and IFRS differences in rev rec, leasing, and financial instruments? Listen to our podcast.
IASB revises the Conceptual Framework
The IASB has revised its Conceptual Framework. This will not result in any immediate change to IFRS, but the Board and Interpretations Committee will use the revised Framework in setting future standards.
IFRS and US GAAP: similarities and differences (fully updated September 2018)
Our guide provides an understanding of the differences between IFRS and US GAAP, as well as insight into future changes.
The importance of being financially bilingual
Don't let financial reporting differences affect perspectives on cross-border deal value.
Select news releases
IASB clarifies its definition of ‘material’
The updated definition amends IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.
IASB Update - October 2018
The Board discussed: disclosure initiative: accounting policies, goodwill and impairment, implementation: deferred tax—tax base of assets and liabilities, among other topics.
IASB issues updated work plan
The work plan is updated as of Oct. 26, 2018 and highlights upcoming milestones for the Board's projects.
IASB issues narrow-scope amendments to business combinations standard
The amendments will help companies determine whether an acquisition made is of a business or a group of assets.
IFRS for SMEs Update - September 2018
This Update includes an update on IFRS for SMEs Standard modules, a status report on IFRS for SMEs Standard translations, and more.
IASB Update - September 2018
The Board discussed the following: dynamic risk management, implementation—costs considered in assessing whether a contract is onerous, and other topics.
IASB issues updated work plan
The work plan is updated as of September 25, 2018 and highlights upcoming milestones for the Board's projects.
IFRS Foundation publishes IFRS Taxonomy 2018—Proposed Update 1 Common Practice (IFRS 13)
This proposed update includes changes to the IFRS Taxonomy 2018 resulting from the analysis of reporting practice relating to the disclosure requirements in IFRS 13 Fair Value Measurement.
IASB update - Meeting minutes
IASB update - June 2018
The Board discussed the following: segment reporting and disclosure framework among other topics.
Joint IASB/FASB update - June 2018
On June 19 the IASB held a joint education meeting with the FASB. This was followed on June 20-21 by the monthly IASB meeting.
IASB Update - May 2018
The Board met on May 22, 2018 and discussed, among other topics: a summary of the results of a survey the staff have conducted on aggregation and disaggregation requirements in different jurisdictions.
IASB Update - March 2018
The Board met from Mar. 21-22, 2018 and discussed Management Commentary, Rate-regulated Activities and more.
IASB Update - February 2018
The Board met from Feb. 20-22, 2018 and discussed Primary Financial Statements, Dynamic Risk Management and more.
IASB Update - January 2018
The Board that met on Jan. 24-25, 2018 discussed Primary Financial Statements, Conceptual Framework and more topics.
Proposed rules
Conceptual Framework for Financial Reporting
The revised Conceptual Framework issued in March 2018 is effective immediately for the International Accounting Standards Board (Board) and the IFRS Interpretations Committee.
Exposure Draft: Definition of Material
The exposure draft proposes minor amendments to IAS 1 and IAS 8 to clarify the definition and improve understanding of the current requirements.
PwC comment letters
PwC comments on proposed revisions to the IASB's conceptual framework
PwC generally supports the revisions to the IASB's conceptual framework, but suggests some clarifications.
PwC Comments on IFRS IC tentative agenda decision: IFRIC 21 - Levies
PwC agrees with the Committee's decision not to take this item onto its agenda.
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