Amendments to IFRS 16 endorsed for use in the EU
On 20 November 2023, the amendments to IFRS 16 Leases titled Lease Liability in a Sale and Leaseback were endorsed by the European Commission for use in the European Union.
IFRS EU endorsement process [November 2023]
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 21 November 2023…
Disclosure of significant judgements and key sources of estimation uncertainty
This article addresses the requirements of IAS 1 Presentation of Financial Statements relating to the disclosure of key judgements management has made in the process of applying accounting policies and of assum…
IFRS EU endorsement process [October 2023]
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 4 October 2023.
New consolidated text of EU-IFRSs available
A new consolidated text of all International Financial Reporting Standards in force in the European Union (EU) has been published in the Official Journal.
How to disclose accounting policies from 1 January 2023
From 1 January 2023, the amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements titled Disclosure of Accounting Policies are effective. In this arti…
Sustainability reporting standards
Sustainability has been a topic of growing importance for quite some time and has recently transitioned from technical discussions centred on reducing carbon footprint and conserving natural resources to also e…
IFRS EU endorsement process [September 2023]
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 August 2023.
IASB publishes amendments to IAS 21
On 15 August 2023, the International Accounting Standards Board (IASB) published 'Lack of Exchangeability (Amendments to IAS 21)' that contains guidance to specify when a currency is exchangeable and how to det…