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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.

Your Global Summary of IFRS News and Developments - November 2019

11 November 2019
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 News in Brief - Issue 94

6 August 2019
RSM News in Brief on IFRS summarises recent IASB discussions and decisions, highlights RSM thought leadership from around the world, and addresses an IFRS application question each month.

IFRS News in Brief - Issue 93

18 June 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.

IFRS News in Brief - Issue 92

24 May 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

IFRS News in Brief - Issue 91

15 May 2019
PUBLICATIONS AND ANNOUNCEMENTS

IFRS News in Brief - Issue 90

15 May 2019
NTERNATIONAL 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:

IFRS News in Brief - Issue 88

22 January 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 11, 12 and 13 December 2018.  

IFRS News in Brief - Issue 87

7 January 2019
PUBLICATIONS AND ANNOUNCEMENTS The IASB issued the seventeenth edition of the ‘Investor Update’ on 27 November 2018. The issue provides investors with information that helps them keep up to date with changes in the world of IFRS and how those changes may affect their work. 

IFRS News in Brief - Issue 86

26 November 2018
PUBLICATIONS AND ANNOUNCEMENTS

IFRS News in Brief - Issue 85

22 October 2018
PUBLICATIONS AND ANNOUNCEMENTS

IFRS News in Brief - Issue 84

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

IFRS News in Brief - Issue 83

16 July 2018
PUBLICATIONS AND ANNOUNCEMENTS The following six IFRS for SMEs modules have been published on the IFRS Foundation website; https://www.ifrs.org/supporting-implementation/supporting-materials-for-the-ifrs-for-smes/modules/

IFRS News in Brief - Issue 82

13 June 2018
PUBLICATIONS AND ANNOUNCEMENTS

IFRS News in Brief - Issue 81

15 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.

IFRS News in Brief - Issue 80

15 May 2018
PUBLICATIONS AND ANNOUNCEMENTS The International Accounting Standards Board issued a revised version of the Conceptual Framework for Financial Reporting on 29 March 2018. It sets out the fundamental concepts of financial reporting that underpin IFRS. It will replace the 2010 Conceptual Framework.

IFRS News In Brief - Issue 79

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

IFRS News in Brief - Issue 78

13 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

IFRS 16 – Leases

6 February 2018
IFRS 16 comes into effect for periods commencing on or after 1 January 2019. All businesses that have contracts which are currently treated as operating leases in their financial statements (i.e. any business who pays rent) will definitely be affected by the forthcoming changes.

IFRS News in Brief - Issue 77

4 January 2018
PUBLICATIONS AND ANNOUNCEMENTS Four Standards amended under Annual Improvements to IFRS Standards 2015-2017 Cycle

IFRS 15 – Revenue from contracts with customers

15 December 2017
In May 2014, the International Accounting Standards Board (IASB) published IFRS 15 which replaces IAS 18 Revenue, IAS 11 Construction Contracts and their associated interpretations.

IFRS News in Brief - Issue 76

6 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.

IFRS News in Brief - Issue 75

7 November 2017
PUBLICATIONS AND ANNOUNCEMENTS IFRS 9 amended for the classification of particular prepayable financial assets

IFRS 9 – Financial instruments (allowance for credit loss)

6 November 2017
On 24 July 2014, the International Accounting Standards Board (IASB) published the complete version of IFRS 9 which becomes mandatorily effective for periods commencing on or after 1 January 2018.

IFRS News in Brief - Issue 74

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

IFRS News in Brief - Issue 73

11 August 2017
INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) LATEST DECISIONS SUMMARY The following is a summarised update on the main tentative decisions taken by the IASB at its meeting on 18-19 July 2017.

A Summary of IFRS 5: Non-current assets held for sale and discontinued operations

25 July 2017
When a company makes the decision to sell an asset or to stop some part of its business, it is making a decision that affects the future cash flows, profitability and overall financial situation. The users of the financial statements should be informed about these events.

IFRS News in Brief - Issue 72

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

IFRS News in Brief - Issue 71

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

Issue 70 - IFRS News in Brief

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

IFRS News in Brief - Issue 69

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

A Look at IFRS 16 - Leases

1 March 2017
The implementation of IFRS 16 (Leases) is around the corner, while IFRS 15 (Revenue from Contracts with Customers) is already in place. It is important that companies start evaluating what impact the introduction of these two accounting standards will have on the Annual Financial Statements as well as on the business as a whole.

A look at IFRS 15 - Revenue from Contracts with Customers

1 March 2017
The implementation of IFRS 15 (Revenue from Contracts with Customers) has come into effect, while IFRS 16 (Leases) is around the corner. It is important that companies start evaluating what impact the introduction of these two accounting standards will have on the Annual Financial Statements as well as on the business as a whole.

IFRS News in Brief - Issue 67

10 February 2017
PUBLICATIONS AND ANNOUNCEMENTS Annual Improvements to IFRSs 2015-2017 Cycle open for comment until 12 April 2017 On 12 January 2017, the IASB published an exposure draft covering narrow-scope amendments to:

Issue 64 - IFRS News in Brief

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

Issue 63 - IFRS News in Brief

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

Issue 61 – IFRS News In Brief

18 July 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 July 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 10 May 2016.

An Introduction to the New Revenue Standard: IFRS 15

21 June 2016
IFRS 15 Revenue from Contracts with Customers was issued by the IASB on 28 May 2014 with a planned introduction for periods beginning on or after 1 January 2017. The effective date was delayed to 1 January 2018 to allow for extended clarification and public consultation.

Accounting for SMEs with IFRS for SMEs

29 April 2016
Small and Medium Entities (SMEs) operate in simpler and less complex environments compared to larger companies. Although SMEs are small in size and capacity, they account for around 95% of all companies around the world.

RSM Reporting - Issue 25

1 December 2015
In this issue we report on the IASB’s endeavour to publish a new Conceptual Framework, which is approaching a successful completion.

Headline earnings per share - Part 2

25 September 2015
Part 2 - How to calculate HEPS

Headline earnings per share - Part 1

25 September 2015
Part 1 - What is HEPS and why the need for it

Summary of IFRS 13 – Fair value measurement

25 September 2015
Fair value measurement guidance is spread across various standards. In certain standards the guidance is incomplete or silent. This creates a potential for inconsistencies in the interpretation and application when determining an estimate of fair value.

The ever changing IFRS - What has changed and what is to come

23 September 2015
In the world of the ever-changing International Financial Reporting Standards (IFRS), most of us find it difficult to keep up to date with the new standards, interpretations or amendments to current standards. It doesn’t take long before everything you know has changed or no longer applies.