On 25 Jun 2020, the International Accounting Standards Board (IASB) issued 'Amendments to IFRS 17' to address concerns and implementation challenges that were identified after IFRS 17 'Insurance Contracts' had …
On 15 July 2020, the International Accounting Standards Board (IASB) published 'Classification of Liabilities as Current or Non-current — Deferral of Effective Date (Amendment to IAS 1)' deferring the effective…
In business, leases usually represent a significant fixed cost that needs to be paid regularly. The COVID-19 epidemic stopped or restricted the business activities of many lessees who thus lost their income but…
On 27 August 2020, the International Accounting Standards Board (IASB) published 'Interest Rate Benchmark Reform — Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)' with amendments that addres…
As government assistance and contributions have been provided more frequently in the period affected by the COVID-19 epidemic, a need has arisen to reflect the use thereof appropriately in accounting. In this a…
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 3 June 2020.
On 28 May 2020, the International Accounting Standards Board (IASB) published 'Covid-19-Related Rent Concessions (Amendment to IFRS 16)' amending the standard to provide lessees with an exemption from assessing…
On 14 May 2020, the IASB issued 'Annual Improvements to IFRS Standards 2018–2020'. The pronouncement contains amendments to four International Financial Reporting Standards (IFRSs).
On 14 May 2020, the International Accounting Standards Board (IASB) published 'Reference to the Conceptual Framework (Amendments to IFRS 3)' with amendments to IFRS 3 Business Combinations that update an outdat…