IFRS News

IFRS News April 2010

Our second edition of 2010 looks ahead to some of the new Standards that will affect companies when preparing their financial statements for the year ending 30 June, and the challenges that those Standards will bring. It then goes on to report on some recent developments around the world, as more and more countries move towards the adoption of IFRS.

IFRS News Januar 2010

Our first edition of 2010 considers someimmediate challenges that will be facedby companies preparing their financialstatements for the year ended 31 December 2009. It then goes on tolook at the publication of IFRS 9 and thecontinuing development of the IASB’sproject to replace IAS 39, as well as othernew pronouncements.

IFRS News Special Edition December2009

IFRS 9 Financial Instruments (IFRS 9)addresses the classification andmeasurement of financial assets. Itrepresents the completion of the firstphase of the IASB’s project to replaceIAS 39, its current Standard on financialinstruments. IFRS 9 aims to reduce thecomplexity in accounting for financialinstruments by having fewer categoriesof financial assets and a principle-basedapproach to their classification.

IFRS News Oktober2009

Our final edition of 2009 leads with anarticle on the major new Standards thatwill affect December 2009 year ends. Wego on to consider the changes the IASBhas made to its Standards in the lastquarter together with some changes thatare in the IASB’s ‘pipeline’. The IASB hasbeen, and continues to be, busy as itresponds to the credit crisis.We then look at some of the guidesthat Grant Thornton International hasmade available in the last quarter, andgive a round up of activities affecting theIASB. We end with a summary of theproposals that the IASB currently hasout for comment and the implementationdates of newer Standards and IFRICInterpretations.

IFRS News Special Edition September 2009

The International Financial ReportingStandard for Small and Medium-SizedEntities (“IFRS for SMEs”) is asimplified version of full IFRS aimed atthe needs of private companies. Published by the InternationalAccounting Standards Board (IASB) on 9 July 2009, the IFRS for SMEs has thepotential to revolutionise and harmonisefinancial reporting by private companiesacross the world.

IFRS News Juli 2009

Our third edition of 2009 leads with the publication of the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs). It then looks at the IASB’s plans to develop a replacement for IAS 39, its current standard dealing with the recognition and measurement of financial instruments. The IASB’s ultimate aim is to replace all of the requirements of IAS 39 during 2010, so there have been a number of developments in the last quarter.

IFRS News April 2009  

Our second edition of the year is dominated by repercussions from the credit crisis.We start with an article looking at the calls for changes to the way loan loss provisions are determined in companies’ financial statements – including so-called “dynamic provisioning”.We also consider the effects the credit crisis may have on the adoption of IFRS in the United States.

IFRS News Januar 2009

Our first edition of the year concentrates on the effects of the credit crisis on financial reporting – both for the IASB and companies applying IFRSs. In our lead article we look at the IASB’s amendment allowing the reclassification of financial instruments in certain circumstances. This amendment was unprecedented in terms of the speed of its development, with the IASB waiving its usual due process to rush the publication out.

IFRS News Oktober 2008

OurOctober edition leads with an article on the announcement by the United States Securities and Exchange Commission of a roadmap which sets out the milestones to the possible adoption of IFRS by US companies. Thisis an exciting development which reflects the growing acceptance of IFRS around the world. We then look at some other recent changes that have taken place and some that are expected in the near future before finishing with a round up of the proposals the IASB currently has out for comment and the implementation dates of Standards that are about to come into effect.

IFRS News Juli 2008

Our July edition leads with an article on the International Accounting Standards Board’s (IASB) latest plans for convergence with its counterpart in the United States, the Financial Accounting Standards Board (FASB).We then look at some recent changes that have taken place and some that are expected to occur in the near future as well as commenting on the effect the credit crisis may have on the future reporting of financial instruments.

IFRS News April 2008

This first edition leads with the International Accounting Standards Board’s (IASB) revised standards on business combinations which will make major changes to the reporting of merger and acquisition activity around the world.We then look at some other recent changes that have taken place and some that are expected to occur in the near future.