New consolidated text of EU-IFRSs available
A new consolidated text of all International Financial Reporting Standards in force in the European Union (EU) has been published in the Official Journal.
How to disclose accounting policies from 1 January 2023
From 1 January 2023, the amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements titled Disclosure of Accounting Policies are effective. In this arti…
Software as a licence – an asset or an expense?
The technological evolution of recent years has caused companies to shift away from proprietary software and on-premises servers to licensing and cloud solutions. This development has significantly affected the…
Sustainability reporting standards
Sustainability has been a topic of growing importance for quite some time and has recently transitioned from technical discussions centred on reducing carbon footprint and conserving natural resources to also e…
IFRS EU endorsement process [September 2023]
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 28 August 2023.
IASB publishes amendments to IAS 21
On 15 August 2023, the International Accounting Standards Board (IASB) published 'Lack of Exchangeability (Amendments to IAS 21)' that contains guidance to specify when a currency is exchangeable and how to det…
Impact of the government’s Consolidation Package on the Accounting Act
The government's consolidation package, which is currently going through the legislative process, brings a number of changes that will also affect accounting. The most significant one is undoubtedly the introdu…
Updated Interpretation of the National Accounting Board I-8
The following article briefly summarises the key points of the National Accounting Board’s updated interpretation I-8 Social Fund and Similar Funds from Profit.
IFRS EU endorsement process [June 2023]
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 2 June 2023.