New publication laying out differences in accounting standards IFRS and US GAAP

Are you transitioning from US GAAP to IFRS or vice versa? Do you need to consider possible differences between the two accounting standards and do not know where to start? Are you concerned that sources you used in past are no longer up to date after many new standards adopted in past couple of years? Then take a look inside our new publication, which deals with the differences between IFRS and US GAAP in detail. 

22. 1. 2021

FASB Issues an Accounting Standards Update Relating to the Reference Rate Reform

On 12 March 2020, the US Financial Accounting Standards Board (FASB) issued Accounting standards update (ASU) no. 2020-04 “Facilitation of the Effects of Reference Rate Reform on Financial Reporting”. Equally to what the International Accounting Standards Board (IASB) did in September 2019, FASB responds to the planned reform of IBOR rates and the planned termination of the use of the LIBOR reference rate at the end of 2021 and to the impact of the changes on financial accounting. The ASU become effective since 12 March 2020 and will apply for a definite period of time, specifically until 31 December 2022. 

24. 3. 2020