The Transition Resource Group (TRG) for Insurance Contracts, set up to support implementation of the new insurance contracts Standard, IFRS 17 Insurance Contracts, had its first face-to-face meeting in London yesterday.
The TRG was set up to support implementation of the new...
Plan Amendment, Curtailment or Settlement (Amendments to IAS 19) specifies how companies determine pension expenses when changes to a defined benefit pension plan occur.
IAS 19 Employee Benefits specifies how a company accounts for a defined benefit plan. When a change to a...
A recording of the live webinar explaining the scope of the Business Combinations under Common Control project is now available.
View the recording here or visit IASB YouTube Channel.
The webinar took place on 31 January 2018 and lasted approximatively 35 minutes, including...
You can now listen to the January podcast, which provides an informal update on the International Accounting Standards Board’s (Board) January meeting. Chair Hans Hoogervorst and Vice-Chair Sue Lloyd join Education Director Matt Tilling.
Hans summarises the Board’s discussions about the...
ASC provides comments on the following IASB's Exposure Drafts (EDs):
(a) Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8); and
(b) Definition of Material (Proposed amendments to IAS 1 and IAS 8).
The January 2018 IASB Update has been published and the work plan updated.
The topics for discussion were:
Primary Financial Statements
Financial Instruments with Characteristics of Equity
IFRS Implementation Issues
Goodwill and Impairment
In 2021, companies will apply the accounting requirements in IFRS 17. The Standard will be a fundamental change for the insurance industry. For many companies, the challenge will be as big as adopting IFRS Standards for the first time.
Jurisdictions have their own processes for adopting a new...
Financial Reporting Standards (FRSs) refer to Financial Reporting Standards and Interpretations of Financial Reporting Standards (INT FRSs) issued by the ASC.
This collection of FRSs and INT FRSs includes official pronouncements issued by the ASC up to 31 December 2017 and are required...