IFRS News

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.

January 2021 - Your Global Summary of IFRS News and Developments

31 March 2021
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.

IFRS illustrative financial statements

14 January 2021
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.

December Year-end Accounting Reminders IFRS

14 January 2021
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.

Determining the Discount Rate Under IFRS 16

14 January 2021
Many companies have underestimated the impact of the adoption of IFRS 16 Leases and the key judgements involved in the transition to the new leasing standard. 

Applying IFRS 9 financial instruments

14 January 2021
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.

Coronavirus and IFRS financial reporting implications

10 September 2020
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:

April & May 2020 - Your Global Summary of IFRS News and Developments

28 July 2020
April & May 2020 - Your Global Summary of IFRS News and Developments

Accounting for Changes to Lease Contracts

15 July 2020
Accounting for COVID-19 related rent concessions and other modifications to lease contracts, from the lessee’s perspective

Coronavirus: Financial Reporting Considerations Update

9 June 2020
by RSM IFRS Advisory Committee Contents RSM INSIGHT: Coronavirus: Financial Reporting Considerations Update

RSM INSIGHT Coronavirus: Financial Reporting Considerations

26 April 2020
by RSM IFRS Advisory Committee

December 2019 - Your Global Summary of IFRS News and Developments

6 February 2020
LATEST MATTERS FROM THE INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB)

Issue 93 - IFRS News in Brief

23 September 2019
This months IFRS News in brief issue summarises recent IASB discussions and decisions, highlights RSM thought leadership from around the world, and addresses an IFRS application question each month.

Issue 92 - IFRS News in Brief

23 September 2019
PUBLICATIONS AND ANNOUNCEMENTS The IFRS Foundation has published its annual report and audited financial statements for the year ended 31 December 2018: https://www.ifrs.org/-/media/feature/about-us/funding/annual-report-2018.pdf?la=en

Issue 91 - IFRS News in Brief

23 September 2019
PUBLICATIONS AND ANNOUNCEMENTS

Issue 90 - IFRS News in Brief

23 September 2019
INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) LATEST DECISIONS SUMMARY The following is a summarised update of the main discussions and tentative decisions taken by the IASB at its meeting on 7 – 8 February 2019.     For more details and comprehensive information on the IASB’s discussion see:

Issue 86 - IFRS News in Brief

20 January 2019
PUBLICATIONS AND ANNOUNCEMENTS

Issue 85 - IFRS News in Brief

20 January 2019
PUBLICATIONS AND ANNOUNCEMENTS The educational modules to support the IFRS for SMEs Standard are now available at https://www.ifrs.org/supporting-implementation/supporting-materials-for-the-ifrs-for-smes/modules/

Issue 84 - IFRS News in Brief

17 September 2018
PUBLICATIONS AND ANNOUNCEMENTS The following materials have been published to support the implementation of IFRS 17 Insurance Contracts:

Issue 83 - IFRS News in Brief

19 July 2018
PUBLICATIONS AND ANNOUNCEMENTS

Issue 82 - IFRS News in Brief

12 June 2018
PUBLICATIONS AND ANNOUNCEMENTS

Issue 81 - IFRS News in Brief

9 May 2018
PUBLICATIONS AND ANNOUNCEMENTS The IFRS Foundation has released the first three of 35 stand-alone modules designed to provide support to anyone learning about, applying or reading financial statements prepared using the IFRS for SMEs.

Issue 80 - IFRS News in Brief

11 April 2018
PUBLICATIONS AND ANNOUNCEMENTS

Issue 79 - IFRS News in Brief

18 March 2018
PUBLICATIONS AND ANNOUNCEMENTS IAS 19 amended for plan amendment, curtailment or settlement 

Issue 78 - IFRS News in Brief

14 February 2018
PUBLICATIONS AND ANNOUNCEMENTS IFRS 9 and IFRS 15 are effective for reporting periods starting on or after 1 January 2018. IFRS 9 Financial Instruments

Issue 76 - IFRS News in Brief

24 December 2017
IFRS INTERPRETATIONS COMMITTEE (IC) LATEST DECISIONS SUMMARY The following is a summarised update on some of the main discussions or tentative decisions taken by the IC at its meeting on 20 November 2017.

Issue 75 - IFRS News in Brief

24 December 2017
PUBLICATIONS AND ANNOUNCEMENTS IFRS 9 amended for the classification of particular prepayable financial assets

Issue 74 - IFRS News in Brief

8 October 2017
PUBLICATIONS AND ANNOUNCEMENTS Proposed narrow-scope amendments to IAS 8 open for comment until 15 January 2018

Issue 73 - IFRS News in Brief

10 August 2017
INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) LATEST DECISIONS SUMMARY

Issue 72 – IFRS News In Brief

18 July 2017
PUBLICATIONS AND ANNOUNCEMENTS Release of IFRIC Interpretation 23 Uncertainty over Income Tax Treatments

Issue 71 - IFRS News in Brief

29 June 2017
PUBLICATIONS AND ANNOUNCEMENTS Release of the final standard on insurance accounting

Alternative Performance Measures - Do they replace or complement GAAP financial information for analysts’ use?

1 June 2017
On behalf of RSM, Prof. Marco Mongiello, Executive Director MBA and MSc Programmes at Surrey Business School, talks with Ken Lee, Head of European Equity Research at Barclays, and Deborah Taylor, Senior Analyst in Accounting and Governance Research at Barclays.

Issue 70 - IFRS News in Brief

8 May 2017
PUBLICATIONS AND ANNOUNCEMENTS Proposed minor amendments to IFRS 9 open for comment until 24 May 2017

Issue 69 - IFRS News in Brief

8 May 2017
PUBLICATIONS AND ANNOUNCEMENTS Proposed amendments to IFRS 8 open for comment until 31 July 2017

Issue 68 - IFRS News in Brief

30 March 2017
INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) LATEST DECISIONS SUMMARY

Considerations in preparing and applying IFRS 7 Financial Instruments: Disclosures – A focus on liquidity risk management disclosures

20 February 2017
By Eckhardt Gerber, RSM South Africa - taken from RSM Reporting - Issue 29.

The future of IFRS in Europe - A change of direction ahead ?

20 February 2017
This is an interview taken from RSM Reporting - Issue 29, with RSM Reporting's editor, Marco Mongiello

Issue 67 – IFRS News In Brief

5 February 2017
PUBLICATIONS AND ANNOUNCEMENTS Annual Improvements to IFRSs 2015-2017 Cycle open for comment until 12 April 2017

Issue 66 – IFRS News In Brief

10 January 2017
PUBLICATIONS AND ANNOUNCEMENTS Three Standards amended under 'Annual Improvements to IFRSs 2014-2016 Cycle' On 8 December 2016, the IASB issued the following minor amendments under its Annual Improvements process:

Issue 65 – IFRS News In Brief

12 December 2016
PUBLICATIONS AND ANNOUNCEMENTS The IFRS Foundation’s Constitution amended effective 1 December 2016

IFRS key considerations for closing out 2016

13 November 2016
Taken from RSM Reporting - November 2016 by Joelle Moughannie, RSM

Reflections on the future of accounting and reporting - a conversation with Mark Vaessen

13 November 2016
Taken from RSM Reporting - November 2016 by the Editor

Issue 64 - IFRS News in Brief

7 November 2016
INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) LATEST DECISIONS SUMMARY

Issue 63 - IFRS News in Brief

31 October 2016
PUBLICATIONS AND ANNOUNCEMENTS IFRS 4 amended to address temporary volatility in reported results on implementation of IFRS 9

Issue 62 - IFRS News in Brief

18 August 2016
IFRS INTERPRETATIONS COMMITTEE LATEST DECISIONS SUMMARY The following is a summarised update on some of the main discussions or provisional decisions taken by the IFRS Interpretations Committee (IC) at its meeting on 12 July 2016.

Aggregation of operating segments – tendencies among public companies

18 August 2016
In this article I present a review of the annual reports of 97 publically traded entities on the Small- and Mid-Cap list of NASDAQ OMX Nordic Exchange in Stockholm for the financial year 2015. The focus of my review has been disclosures on operating segments, as I find this to be a topic of continuous debate.

Michael Wells on the future of the accounting profession

18 August 2016
A conversation with Michael Wells on the future of the accounting profession, by Marco Mongiello, Editor of RSM Reporting.

Issue 61 – IFRS News In Brief

18 August 2016
PUBLICATIONS AND ANNOUNCEMENTS IFRS 2 amended for the classification and measurement of certain types of share-based payment (SBP) transactions

Issue 60 – IFRS News In Brief

18 August 2016
IFRS INTERPRETATIONS COMMITTEE LATEST DECISIONS SUMMARY

Investment property – issues encountered in practise

18 August 2016
By Simon Fisher, Partner, RSM Eastern Africa - taken from RSM Reporting - Issue 27.

Materiality in five Q&As

18 August 2016
by Joelle Moughanni, Technical Consultant, RSM - taken from RSM Reporting - Issue 27.

Issue 58 – IFRS News In Brief

10 April 2016
IFRS INTERPRETATIONS COMMITTEE LATEST DECISIONS SUMMARY

Issue 57 – IFRS News In Brief

16 March 2016
INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) LATEST DECISIONS SUMMARY

Issue 56 – IFRS News In Brief

16 March 2016
PUBLICATIONS AND ANNOUNCEMENTS Release of the final standard on leases

RSM Reporting - Issue 26

16 March 2016
As we enter into the second decade of IFRS in Europe, in this issue we reflect on the lessons learnt from the past and on what we should look forward to in the next decade.

Issue 55 – IFRS News In Brief

16 March 2016
PUBLICATIONS AND ANNOUNCEMENTS Accounting changes for transactions between investors and associates or joint ventures postponed

Issue 54 – IFRS News In Brief

16 March 2016
PUBLICATIONS AND ANNOUNCEMENTS Proposed guidance on transfers of investment property open for comment until 18 March 2016

RSM Reporting - Issue 25

16 March 2016
In this issue we report on the IASB’s endeavour to publish a new Conceptual Framework, which is approaching a successful completion.

Issue 53 – IFRS News In Brief

16 March 2016
PUBLICATIONS AND ANNOUNCEMENTS Proposed Interpretation for uncertainty over income tax treatments open for comment until 19 January 2016

Issue 52 – IFRS News In Brief

19 October 2015
PUBLICATIONS AND ANNOUNCEMENTS IFRS 15 Revenue from Contracts with Customers amended for its effective date

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