RSM Global

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.

Are investment funds shortchanged by the exemption from consolidation with more efforts and disclosures required by fair value accounting?

29 January 2016
Amendments to IFRS 10, Consolidated Financial Statements, IFRS 12, Disclosure of Interests in Other Entities and IAS 27, Separate Financial Statements on Investment Entities (IE) provide an exemption from consolidation for investment funds and similar entities. As such, an IE records its investments in subsidiaries at fair value through profit or loss, instead of consolidating them. The main reason for such preferential treatment is that the IE operates in a unique business model where fair value information is provided to its users and such fair value information is more useful for the stakeholders within the IE’s ecosystem. However, the assessment whether an entity qualified as an IE is not straightforward. Let us explore closely.

A conversation with Nigel Sleigh-Johnson

29 January 2016
As last year marked the first decade of international accounting and reporting widely applied in Europe and a continuously growing number of other countries, it seems natural that we start the New Year reflecting on what the next decade of international accounting may look like and how we can influence it. To this end, I am grateful to Dr Nigel Sleigh-Johnson, Head of the Financial Reporting Faculty at ICAEW and co-author of ‘Moving to IFRS reporting: seven lessons learned from the European experience’, for sharing his personal views with us.

RSM Reporting - Issue 26

29 January 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. Our guest contributor, Dr Nigel Sleigh-Johnson, Head of the Financial Reporting Faculty at ICAEW, shared with us his insightful views, providing a start to the New Year under the best auspices of a promising new decade of IFRS.

Issue 55 – IFRS News In Brief

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

Issue 54 – IFRS News In Brief

7 December 2015
PUBLICATIONS AND ANNOUNCEMENTS Proposed guidance on transfers of investment property open for comment until 18 March 2016 On 19 November 2015, the IASB published an exposure draft aimed at clarifying the existing guidance on transfers to, or from, investment properties in IAS 40.

RSM Reporting - Issue 25

25 November 2015
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

3 November 2015
PUBLICATIONS AND ANNOUNCEMENTS Proposed Interpretation for uncertainty over income tax treatments open for comment until 19 January 2016

Issue 52 – IFRS News In Brief

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

Issue 51 – IFRS News In Brief

6 August 2015
This fifty-first edition features: Publications and Announcements

Issue 24 - RSM Reporting

25 July 2015
This edition features: Françoise Flores, EFRAG TEG Chairman and CEO The growing demand for stakeholders’ direct and active participation in the IFRS standard setting process. Our experts in... the UK Deferred Tax – Where is it going?

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