This section provides you with the most recent news in International Financial Reporting Standards (IFRS). It summarises the activities of the IFRS Foundation, International Accounting Standards Board (IASB) and the IFRS Interpretations Committee, as well as interviews about the effect of IFRS on the profession around the world.
This newsletter discusses reporting requirements as of December 31, 2021. The first section discusses key topics and reminders that financial statement preparers and reviewers should consider in preparing their statements.
RSM World of IFRS summarises key matters arising from recent IASB discussions and decisions, highlights RSM thought leadership from around the world, and addresses an IFRS application question each month.
RSM’s IFRS illustrative financial statements provide the consolidated financial statements of several entities across a range of structures. The financial statements are prepared in accordance with International Financial Reporting Standards. They are an invaluable resource for anyone involved in the preparation or audit of a financial report under IFRS.
This newsletter will discuss reporting requirements as of 31 December 2020 including IFRS that become effective from 1 January 2020, IFRS that will be effective from 1 January 2021 or later but are available for early adoption and a round up of IFRIC agenda decisions in 2020.
Application of the Provision Matrix Practical Expedient in the Calculation of Lifetime Expected Credit Losses
This guidance provides a reminder of the requirements of IFRS 9 with respect to the impairment of trade receivables, lease receivables and contract assets measured using the simplified approach.
It’s quite clear that coronavirus is a devastating, exceptional and extraordinary worldwide event which will have a significant financial impact on many entities.
The financial reporting implications of coronavirus, together with the Government support, could prove challenging.
We have provided analysis on a number of areas detailing: