Article
IFRS News
2014
Published as soon as developments are announced, IFRS news is a brief news letter outlining the amendments, additions and deletions to IFRS and tracks the work of the IASB. IFRS News provides an essential ‘heads-up’.
IFRS news is a weekly newsletter designed to highlight the most significant IFRS changes, proposals and events as reported in Deloitte IAS Plus publications. These newsletters are published at the time of release of new and revised Standards and Interpretations, Exposure Drafts and discussion documents, including summaries of the documents and consideration of the principal amendments/proposals.
IASB proposes amendments to IFRS 2 related to the classification and measurement of share‑based payment transactions
The IASB did not propose an effective date for the proposed amendments. However, early application is proposed to be permitted. The ED proposes prospective application but permits retrospective application if certain criteria are met.
December 1, 2014
Following its November meeting, the International Accounting Standards Board (IASB) has updated its work plan
The revised plan adds a target date for amendments to IFRS for SMEs (Q1 2015) and a timeframe for the comment letter analysis (Q1 2015) on the discussion paper on macro hedging.
December 1, 2014
IASB issues work plan update for October
The revised plan adds an expect dates for final IFRSs on leases (H2 2015) and investment entities (Q4 2014); narrows the target range for the discussion paper on principles of disclosure to the second quarter of 2015; and moves the target date for an exposure draft on the classification of liabilities to the first quarter of 2015.
October 30, 2014
IASB issues work plan update for September
The revised plan updates the expected redeliberation periods in the amendments to IAS 1 and recognition of deferred tax assets for unrealised losses projects, as well as noting the extension for the expected timing of the exposure draft in the conceptual framework and liabilities projects.
October 07, 2014
ASB issues Annual Improvements to IFRSs: 2012-2014
This edition outlines the recent amendments to four International Financial Reporting Standards (IFRSs) under the annual improvement process.
September 30, 2014
IASB publishes discussion paper on rate regulation
This edition summarises the discussion paper DP/2014/2 entitled Reporting the Financial Effects of Rate Regulation (‘the discussion paper’) issued by the International Accounting Standards Board (IASB).
September 25, 2014
IASB proposes amendments to clarify the unit of account and measurement of quoted investments in subsidiaries
The proposed amendments would clarify that the unit of account of investments in subsidiaries, joint ventures or associates is the investment as a whole; however...
September 25, 2014
IASB work plan update for March 2014
This edition outlines the recent amendments to the accounting under IFRS 10 Consolidated Financial Statements and IAS 28(2011) Investments in Associates and Joint Ventures for sales or contributions of assets between an investor and its joint venture or associate.
September 16, 2014
IASB proposes amendments to IAS 12
IASB proposes amendments to IAS 12 to clarify the recognition of deferred tax assets for unrealised losses related to debt instruments measured at fair value.
September 02, 2014
IFRS Foundation publishes update on leases project
The IFRS Foundation staff has published a document setting out the key tentative decisions reached on the leases project during the first half of 2014. The document also explains the IASB’s reasons for reaching those tentative decisions and explains the remaining work to be done in completing the project.
September 02, 2014
IASB issues amendments to IAS 27 to allow the use of the equity method in separate financial statements
Following its July meeting, the International Accounting Standards Board (IASB) has again updated its work plan.
September 02, 2014
04 August 2014, IASB issues second work plan update for July 2014
Following its July meeting, the International Accounting Standards Board (IASB) has again updated its work plan. The revised plan updates the expected redeliberation periods in the insurance contacts, leases and IFRS for SMEs projects, and extends the expected timing for the exposure draft in the conceptual framework project.
August 04, 2014
IASB finalises IFRS 9
IASB finalises IFRS 9 which changes the classification and measurement of financial assets and introduces an expected loss impairment model.
July 30, 2014
IASB work plan update for July 2014
Following the issuance of IFRS 9 'Financial instruments', the International Accounting Standards Board (IASB) has updated its work plan. In the updated work plan, the completed projects on impairment and limited reconsideration of IFRS 9 have been removed.
July 24, 2014
IASB proposes amendments to IFRS 10 and IAS 28 related to the implementation of the investment entities exemption
This edition outlines the proposed amendments to IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures set out in the recent exposure draft (the “ED”) which was issued in June 2014 for public comment.
June 24, 2014
IASB work plan update for May 2014
Following its recent meeting and the issue of IFRS 15 'Revenue from Contracts with Customers', the International Accounting Standards Board (IASB) has updated its work plan. A final pronouncement in the narrow scope project on 'Sales or contributions of assets between an investor and its associate/joint venture’ is now expected in Q3 2014 instead of Q2 2014.
June 24, 2014
IASB issues new Standard on revenue recognition
The Standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. It supersedes current revenue recognition guidance including IAS 18 Revenue, IAS 11 Construction Contracts and related Interpretations.
June 04, 2014