IASB Concluded the 2018–2020 Annual Improvements Cycle
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).
IASB Published Amendments to IFRS 3 to Update a Reference to the Conceptual Framework
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…
IFRS EU Endorsement Process [May 2020]
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 22 April 2020.
IASB Issued Amendments to IAS 16 Regarding Proceeds Before Intended Use
On 14 May 2020, the International Accounting Standards Board (IASB) published 'Property, Plant and Equipment — Proceeds before Intended Use (Amendments to IAS 16)' regarding proceeds from selling items produced…
IASB Issued Amendments to IAS 37 Regarding Onerous Contracts
On 14 May 2020, the International Accounting Standards Board (IASB) published 'Onerous Contracts — Cost of Fulfilling a Contract (Amendments to IAS 37)' amending the standard regarding costs a company should in…
Amendments to IFRS 3 endorsed for use in the EU
On 21 April 2020, Amendments to IFRS 3 Definition of business were endorsed by the European Commission for use in the European Union. The EU effective date is the same as the IASB’s effective date.
IFRS EU Endorsement Process [April 2020]
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 23 January 2020.
Accounting considerations related to the coronavirus disease 2019 [part 2]
In the last issue of the Accounting news we informed you about the publication IFRS in Focus – Accounting considerations related to the coronavirus disease 2019, which was issued in March 2020 by Deloitte. Due …
Accounting Considerations Related to Coronavirus Disease 2019
Global responses to the coronavirus disease 2019 (COVID-19) outbreak continue to rapidly evolve. COVID-19 has already had a significant impact on global financial markets, and it may have accounting implication…