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…
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…
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.
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.
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…
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…
On 8 February 2019, Amendments to IAS 28 Long-term Interests in Associates and Joint Ventures were endorsed by the European Commission for use in the European Union. The EU effective date is the same as the IAS…
Some accounting estimates are very difficult to assess and evaluate, both for company management and auditors. In addition, even seemingly simple estimates may be of surprise in terms of their partial component…
This article provides a high-level overview of the new and revised Standards and Interpretations that are effective for December 2018 calendar year-ends and subsequent accounting periods. Entities are, however,…