The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 31 August 2021.
There has been an evolution in the technological architecture of entities across the world. This has resulted in potentially significant accounting changes for entities that have entered into cloud-computing arrangements. The IFRS Interpretations Committee has published two agenda decisions clarifying how arrangements in respect of a specific part of cloud technology, Software-as-a-Service (SaaS), should be accounted for.
The following article briefly summarises the key points of the new National Accounting Council’s interpretation I-46: the accounting treatment of free business and settlement shares in limited liability companies (“LLC”) and a settlement share in associations.
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 31 August 2021.
We bring you an overview of new amendments to IFRSs recently endorsed by the European Commission. These are Amendments to IFRS 3, IFRS 16, IAS 16, IAS 37 and Annual Improvements 2018-2020. What are the amendments about?
In July 2021, the European Securities and Markets Authority (ESMA) published further extracts from its confidential database of enforcement decisions taken by European national enforcers.
On 19 July 2021, the FASB issued ASU 2021-05, Lessors — Certain Leases with Variable Lease Payments, which requires a lessor to classify a lease with variable lease payments that do not depend on an index or rate (hereafter referred to as “variable payments”) as an operating lease on the commencement date of the lease if specified criteria are met.
With the growing interest in corporate social responsibility voiced not only by our clients, we are faced more and more with questions relating to various aspects of NGOs. Some would like to know which legal form to choose; others wonder how an NGO’s bookkeeping is different from that of a regular business or how to recognise a contribution to an NGO; and others would like to know more about audit obligations – and these are just the most common questions. That is why we decided to use this article to summarise the basic facts that we consider useful and that should point you in the right direction to obtain more detailed information.
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 7 May 2021.
