Contributions from PricewaterhouseCoopers LLP

IFRS News is a monthly newsletter highlighting the latest developments at the International Accounting Standards Board (IASB). The newsletter provides practical guidance on how new standards/interpretations or changes to existing requirements will affect your company. 

2020 20192018201720162015
January 2020January 2019January 2018February 2017February 2016February 2015
February 2020 February 2019February 2018March 2017March 2016March 2015
April 2020 March 2019March 2018April 2017April 2016April 2015
May 2020 May 2019May 2018May 2017May 2016May 2015
June/July 2020June 2019June 2018June 2017June 2016June 2015
 July 2019July 2018July 2017July 2016July/August 2015
 November 2019August 2018August 2017August 2016September 2015
  October 2018October 2017September/
October 2016		October 2015
  November 2018December 2016/
January 2017		November 2016November 2015
  December 2018  December 2015/
January 2016

Click here for the full listing of IFRS News and more publications.

In Brief

PwC's 'In Brief' series provides you with short summaries on developments in current GAAP.

INT2020-13 IAS 29 becomes applicable in Lebanon and Iran

INT2020-12 Phase 2 amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 – interest rate benchmark (IBOR) reform

INT2020-11 Player Transfer Payments (IAS 38)

INT2020-10 Amendments to IFRS 17, ‘Insurance contracts’

INT2020-09 IASB issues IFRS 16 COVID-19 rent concessions amendment

INT2020-08 IASB issues a number of narrow-scope amendments

INT2020-07 IASB exposure draft – COVID-19 rent concessions

INT2020-06 IFRS 16 accounting and disclosures – What to look out for

INT2020-05 Translation of hyperinflationary foreign operations (IAS 29/IAS 21)

INT2020-04 Accounting implications of coronavirus

INT2020-03 Classification of liabilities as current or non-current (Amendment to IAS 1)

INT2020-02 One-off cash compensation on collateralised derivatives due to the transition from EONIA to €STR

INT2020-01 Hyper-inflationary economies at 31 December 2019

INT2019-15 IFRS IC decision on IFRS 16 lease term

INT2019-14 IAS 29 becomes applicable in Zimbabwe

INT2019-13 IFRS IC decision on disclosure of changes in liabilities arising from financing activities

INT2019-12 IFRS IC decision on presentation of uncertain tax liabilities

INT2019-11 Amendments to IFRS 9, IAS 39 and IFRS 7 – Interest rate benchmark reform

INT2019-10 Impact of the reform of LIBOR and other similar rates on IFRS reporting at 30 June 2019

INT2019-09 Proposed amendments to IFRS 17, ‘Insurance contracts’

INT2019-08 The new definition of a business promises to impact the real estate industry

INT2019-07 The effect on hedge accounting of the reform of LIBOR and other similar rates

INT2019-06 Interim disclosures in the first year of applying IFRS 16

INT2019-04 The new definition of a business promises to impact the pharmaceutical industry

INT2019-02 Does your contract manufacturing arrangement contain an embedded lease

INT2019-01 IFRS 15 for the software industry

INT2018-17 Hyper-inflationary economies at 31 December 2018

INT2018-16 Accounting considerations for Venezuelan entities (update as of November 2018)

INT2018-15 Disclosure of the expected impact of IFRS 16

INT2018-14 IASB Amendments to the definition of material

INT2018-13 Amendments to IFRS 3 – definition of a business

INT2018-12 IAS 29 becomes applicable in Argentina

INT2018-11 Disclosures required in interim financial statements on the initial adoption of IFRS 9

INT2018-10 Disclosures required in interim financial statements on the initial adoption of IFRS 15

INT2018-09 Accounting considerations for Venezuelan entities (update as of April 2018)

INT2018-08 Accounting for fixed consideration in licence arrangements in the pharmaceutical and life sciences industry

INT2018-07 IASB revises the Conceptual Framework

INT2018-06 IFRS Interpretations committee agenda decision on the presentation of interest revenue for certain financial instruments

INT2018-05 Adopting IFRS or preparing a transaction document? You may be subject to different transition requirements when applying IFRS 9, 15, 16 and 17

INT2018-04 IASB issues amendments to IAS 19 – plan amendment, curtailment or settlement

INT2018-03 Long-term Interests in Associates and Joint Ventures

INT2018-02 IFRS 9 impairment: intercompany loans in separate financial statements

INT2018-01 Hyper-inflationary economies at 31 December 2017

INT2017-18 Accounting for options over intellectual property in the pharmaceutical and life sciences industry

INT2017-17 Annual Improvements to IFRS Standards 2015 – 2017 Cycle

INT2017-16 IFRS IC decision on interest and penalties related to income taxes

INT2017-15 US Tax reform

INT2017-14 ESMA announces the European common enforcement priorities for 2017 IFRS financial statements 

INT2017-13 Amendments to IFRS 9 prepayment features with negative compensation and modifications of financial liabilities (amendments to IFRS 9)

INT2017-12 IFRS IC decision on interest and penalties related to income taxes

INT2017-11 Definition of material and guidance on making materiality judgements

INT2017-10 Transitioning to IFRS 9, 15, 16, 17? First-time adopters and those preparing transaction documents may need to do things differently

INT2017-09 Accounting consideration for Venezuelan entities (update as of July 2017)

INT2017-08 Second GPPC paper on the auditor’s response to the risks of material misstatement posed by estimates of expected credit losses under IFRS 9

INT2017-07 IFRS 17 Modification of financial liabilities – IFRS 9 accounting change confirmed

INT2017-06 IFRIC 23 Uncertainty over income tax treatments

INT2017-05 IFRS 17 marks a new epoch for insurance contracts

INT2017-04 ‘Brexit’ and implications for income tax

INT2017-03 Modification of financial liabilities – IFRS 9 changes accounting

INT2017-02 We’ve modernised the IFRS manual of accounting

INT2017-01 Hyper-inflationary economies at 31 December 2016

INT2016-19 Annual Improvements to IFRS Standards 2014

INT2016-18 Amendment to IAS 40, 'Investment property'

INT2016-17 Foreign currency transactions and advance consideration

INT2016-16 More flexibility in the application of IFRS 9 – the IASB publishes an amendment to IFRS 4

INT2016-15 Variable payments for the separate acquisition of PPE and intangible assets

INT2016-14 Accounting for government loans to fund research and development

INT2016-13 IAS 36; Impact of a decommissioning liability in determining the recoverable amount of a CGU

INT2016-12 Impact of UK referendum result on financial reports

INT2016-11 IASB issues amendment to IFRS 2

INT2016-10 GPPC paper on IFRS 9 impairment considerations for systemically important banks

INT2016-09 South Sudan enters hyperinflation

INT2016-08 Immediate impact on cash pooling arrangements of IFRS IC decision

INT2016-07 IASB issues amendment to IFRS 15 'Revenue from contracts with customers’

INT2016-06 Accounting considerations for Venezuelan entities

INT2016-04 IASB issues a narrow scope amendment to IAS 7, ‘Statement of cash flows’

INT2016-03 IASB issues narrow scope amendments to IAS 12, ‘Income taxes’

INT2016-02 EDTF publishes IFRS 9 Impairment disclosure recommendations for banks

INT2016-01 It’s finally here – the IASB publishes a new standard on lease accounting

INT2015-16 New Italian MedTech payback measure

INT2015-15 Hyper-inflationary economies at 31 December 2015

INT2015-14 Accounting considerations for Venezuelan subsidiaries

INT2015-13 IASB issues Exposure Draft to amend IFRS 4: Insurance Contracts

INT2015-12 Buyer’s accounting for royalties and milestones payable to a seller in a business combination

INT2015-11 IFRIC 21 Levies – Recognition of the debit

INT2015-10 IASB issues amendment on one-year deferral of IFRS 15

INT2015-09 ESMA Guidelines on the use of Alternative Performance Measures (APMs)

INT2015-08 Consequences of the Greek financial crisis

INT2015-07 A look at current financial reporting issues

INT2015-06 Review of IFRS for SMEs completed

INT2015-05 IASB proposes one-year deferral of new revenue standard

INT2015-04 Exchange rates in Venezuela

INT2015-03 Consolidation considerations for Venezuelan subsidiaries (Jan 2015)

INT2015-02 Top 5 tips for impairment reviews of non-financial assets (Jan 2015)

INT2015-01 Disposals – seller accounting for contingent consideration (pharmaceutical and life sciences industry) (Jan 2015)

Click here for the full listing of In Brief and more publications. 

IFRS Quarterly Updates

IFRS Quarterly Updates outline the IFRS reporting requirements for a particular year-end. They highlight the topical issues to consider (including new issues added since previous versions); the standards that apply at this date; and the standards are published but effective at later dates and so need to be disclosed.

December 2020

September 2020

June 2020

March 2020

December 2019

September 2019

June 2019

March 2019

December 2018

September 2018

June 2018

March 2018

December 2017

September 2017

June 2017

March 2017

December 2016

September 2016

June 2016

March 2016

December 2015

September 2015

June 2015

March 2015

Click here for the full listing of IFRS quarterly updates and more publications.

'In depth' and Practical Guides to IFRS

PwC's 'In depth' series update you on the guidance in recently released discussion papers, exposure drafts and final standards from the IASB.

INT2020-07 Accounting and reporting implications of Brexit (Nov 2020)

INT2020-06 Practical guide to Phase 2 amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 for interest rate benchmark (IBOR) reform (Oct 2020)

INT2020-05 IFRS 16 COVID-19 Related Rent Concessions Amendment (Jun 2020)

INT2020-04 New IFRSs for 2020 (Apr 2020)

INT2020-02 Accounting implications of the effects of coronavirus (Apr 2020)

INT2020-01 TIAG perspectives on lease term under IFRS 16 (Feb 2020)

INT2019-05 Cryptographic assets and related transactions: accounting considerations under IFRS (Dec 2019)

INT2019-04 Practical guide to Phase 1 amendments IFRS 9, IAS 39 and IFRS 7 for IBOR reform (Nov 2019)

INT2019-02 IFRS 16, ‘Leases’ – interaction with other standards (Jun 2019)

INT2019-01 New IFRSs for 2019 (Mar 2019)

INT2018-16 IFRS 13 European real estate survey – 2018 update (Dec 2018)

INT2018-15 Accounting implications of the UK’s Brexit decision for December 2018 period ends (Dec 2018)

INT2018-14 Financial reporting impacts from replacement of LIBOR and other interbank offered rates (Dec 2018)

INT2018-13 IAS 29 becomes applicable in Argentina (Oct 2018)

INT2018-12 Cryptographic assets and related transactions: accounting considerations under IFRS (Sep 2018)

INT2018-11 IFRS 16 implications for lessors in the real estate industry (Jul 2018)

INT2018-10 IFRS 9 Impact on the real estate industry (Jul 2018)

INT2018-08 New IFRSs for 2018 (Mar 2018)

INT2018-07 IFRS 9 Impairment - Intercompany loans (Feb 2018)

INT2018-06 IFRS 9 What’s new in financial instruments accounting for asset management (Feb 2018)

INT2018-05 IFRS tax accounting effects of the US tax reform (Jan 2018)

INT2018-04 IFRS 9 impairment: significant increase in credit risk (Jan 2018)

INT2018-03 Retail banking: practical implications of IFRS 9 classification and measurement (Jan 2018)

INT2018-02 Corporate banking: practical implications of IFRS 9 classification and measurement (Jan 2018)

INT2018-01 Treasury and securities portfolios: practical implications of IFRS 9 classification and measurement (Jan 2018)

INT2017-12 Accounting considerations of US tax reform (Dec 2017)

INT2017-11 IFRS 15 for Banks (Dec 2017)

INT2017-10 IFRS 9 Impact on the pharmaceutical industry (Dec 2017)

INT2017-09 Achieving hedge accounting in practice under IFRS 9 (Dec 2017)

INT2017-08 IFRS 9 impairment: Revolving credit facilities and expected credit losses (Dec 2017)

INT2017-07 IFRS 9 disclosures by banks in 2018 interim reporting and transition documents (Dec 2017)

INT2017-06 IFRS 9 disclosures for corporates (Sep 2017)

INT2017-05 IFRS 9 impairment: how to include multiple forward-looking scenarios (Aug 2017)

INT2017-04  IFRS 17 marks a new epoch for insurance contract accounting (Jul 2017)

INT2017-02  New IFRSs for 2017 (Mar 2017)

INT2017-01 IFRS 10 for asset managers and other related issues (Jan 2017)

INT2016-06 IFRS 13 European real estate survey – 2016 update (Dec 2016)

INT2016-05 Amendment to IFRS 4 – relief for insurers regarding IFRS 9 (Oct 2016)

INT2016-04 Accounting implications of UK’s Brexit decision Volume 1 (Jul 2016)

INT2016-03 New IFRSs for 2016 (Mar 2016)

INT2016-02 Basel Committee guidance on accounting for IFRS 9 expected credit losses for banks (Mar 2016)

INT2016-01 IFRS 16 – A new era of lease accounting (Feb 2016)

INT2015-16 Getting governance right on IFRS 9 Expected Credit Loss: accounting policy and implementation decisions ( Nov 2015)

INT2015-15 Agriculture – Including new rules for ‘bearer plants’ (Jun 2015)

INT2015-14 A fresh look at IFRS 8, ‘Operating segments’ (Mar 2015)

INT2015-13 IFRS 9: Impairment of financial assets – Questions and answers (Mar 2015)

INT2015-12 IFRS 9: Classification, measurement and modifications – Questions and answers (Mar 2015)

INT2015-11 Testing for impairment in the upstream industries - top reminders (Mar 2015)

INT2015-10 New IFRSs for 2015 (Mar 2015)

INT2015-09 IAS 23 - Capitalisation of borrowing costs (Mar 2015)

INT2015-08 Impairment of non-financial assets – Expanding on the top 5 tips for impairment testing (Mar 2015)

INT2015-07 IFRS 13 disclosure requirements – Questions and answers (Feb 2015)

INT2015-06 IFRS 11, ‘Joint arrangements’ – Implementation issues considered by the IFRS Interpretations Committee (Feb 2015)

INT2015-05 IFRS 9: Hedging in practice - Frequently asked questions (Jan 2015)

INT2015-04 Alternative financing for extractive industries (Jan 2015)

INT2015-03 Distinguishing a business from an asset or a group of assets (pharmaceutical and life sciences industry) (Jan 2015)

INT2015-02 IFRS 9: Expected credit loss disclosures for banking (Jan 2015)

INT2015-01 IFRSs 10 and 12 - Questions and answers (Jan 2015)

Click here for more publications.

Industry IFRS Publications

Illustrative IFRS financial statements 2019 - Private equity funds (Apr 2020)

Illustrative IFRS financial statements 2018 – Private equity funds (May 2019)

Illustrative IFRS financial statements 2017 – Private equity funds (Jan 2018)

Illustrative Financial Statements of Private Equity Fund holding an Investment Entity subsidiary (Jan 2017)

Illustrative IFRS financial statements 2016 - Private equity funds (Jan 2017)

Illustrative IFRS financial statements 2015 - Private equity funds (Dec 2015)

Illustrative IFRS financial statements - Investment funds 2015 (Nov 2015)

Illustrative IFRS consolidated financial statements 2015 - Investment property (Nov 2015)

Illustrative IFRS consolidated financial statements for 2015 year ends (Jul 2015)

Click here for more publications.