IFRS EU Endorsement Process [June 2021]
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.
Financial statements with a focus on interim financial statements
Financial statements are a set of accounting statements prepared by an entity for a reporting period as of the balance sheet date. There are three types of financial statements: ordinary, extraordinary and inte…
Three new IFRS Publications by Deloitte
In April and May 2021, Deloitte’s Global IFRS Office published three new interesting publications relating to IFRS.
Accounting Treatment and Reporting of Government Support and Compensations Provided in Relation to the COVID-19 Pandemic
Although it may seem that the COVID-19 pandemic is on the decline, businesses affected by the epidemic and by governmental anti-pandemic measures can still apply for allowances and support in order to decrease …
IFRS EU Endorsement Process [May 2021]
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.
IASB published amendments to IAS 12
On 7 May 2021, the International Accounting Standards Board (IASB) published Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction that clarify how companies acco…
IFRS EU Endorsement Process [April 2021]
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 April 2021.
New legislation on the registration of beneficial owners
As of 1 June 2021, Act No. 37/2021 Coll., on Registration of Beneficial Owners, will take effect which (unlike the existing legislation) imposes tangible consequences in case of failure to meet the imposed regi…
New publication on Current Expected Credit Losses based on ASC 326
The accounting standard on Current Expected Credit Losses has now been in force for most companies. The experience from its application has raised a number of questions between users of accounts. Such a signifi…