Cryptocurrencies under IFRSs
In this article we make some observations about cryptocurrencies and the current accounting requirements under IFRSs for those holding, using for payments for goods or services or issuing cryptocurrency.
Amended Interpretation of the National Accounting Council for the Accounting Treatment of the Sale of Investments in Subsidiaries
In this article, we will briefly summarise the main features of Interpretation I-38 of the National Accounting Council entitled “Accounting Treatment of the Sale of Equity Investments in Subsidiaries in Consoli…
IFRS EU Endorsement Process: April
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 March 2019.
ESMA publishes a report on the activities of accounting enforcers and their findings within the EU in 2018
On 27 March 2019, the European Securities and Markets Authority (ESMA) published a report on the enforcement and regulatory activities of accounting enforcers within the European Union in 2018. ESMA is an indep…
Outstanding Vacation Days – a reserve or an estimated payable?
Opinions as to the period in which costs of outstanding vacation days should be accounted for and how have changed over time. At first, they were not accounted for at all, then through estimated payables and ev…
FASB clarified implementation guidance and disclosure requirements in the leases standard
On 5 March 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2019-01 that addresses three issues associated with adopting the new leases standard.
IFRS EU Endorsement Process: March
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 18 March 2019.
Annual Improvements to IFRSs (cycle 2015–2017) endorsed for use in the EU
On 14 March 2019, the European Commission endorsed the Annual Improvements (cycle 2015–2017) for use in the EU. The EU effective date is the same as the IASB’s effective date (annual periods beginning on or aft…
Amendments to IAS 19 endorsed for use in the EU
On 13 March 2019, Amendments to IAS 19 Plan Amendment, Cur¬tail¬ment or Set¬tle¬ment were endorsed by the European Commission for use in the European Union. The EU effective date is the same as the IASB’s effec…