Swiss GAAP FER 2015

Article

Swiss GAAP FER 2015

Checklist for application and disclosure

The Swiss GAAP FER checklist supports applying the Swiss GAAP FER standards as well as reviewing the completeness of its disclosure requirements. It comprises, based on our experience, the most relevant requirements in regard of application and disclosure of Swiss GAAP FER for stand-alone financial statements and consolidated financial statements. Additionally, this checklist contains industry specific FER standards as well as requirements for the accounting of pension plans.

The Swiss GAAP FER 2015 checklist aids in preparing financial statements under Swiss GAAP FER. This Swiss GAAP FER 2015 checklist covers the latest published amendments and new standards as per 31 January 2015. These FER standards must be applied by for financial years beginning on or after the 1 January 2014.

Swiss GAAP FER 2015

In particular, this means:

Revenue recognition

This checklist includes the latest modifications to the revenue recognition policy (published on 25 June 2014). These changes have impacts on the Swiss GAAP FER framework, FER 3 and FER 6 (the corresponding changes are highlighted within this checklist) and will become effective as per 1 January 2016. An early adoption is permitted.

FER 21

The standard FER 21 “accounting for charitable, social non-profit organisations” has been partially revised (10 December 2014) and will become effective as per 1 January 2016. It is included in this checklist, as an early adoption is permitted.

FER 26

As of 1 January 2014 the revised FER 26 “accounting of pension plans” came into place. FER 26 is included in this checklist.

FER 31

As of 1 January 2015 the new FER 31 “complementary recommendation for listed companies” came into force. It has been included into this checklist. By this, the FER 12 is terminated. However, entities with a financial year ending before the 1 January 2015 can choose between early adopting FER 31 or applying FER 12 for the last time. Thus this checklist includes the requirements as of FER 12 for the last time.

 

Did you find this useful?