How the IFRS standard for business combinations values intangible assets should be rethought, some say. In the second half of 2014, an enigmatic notice appeared on the International Financial Reporting Standards (IFRS) website. It called for tenders to place a value on IFRS’s intellectual property — that is, on the brand. But what’s most interesting is…
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The Effects of Mandatory IFRS Adoption in the EU: A Review of Empirical Research reviews academic research into the effects of mandatory adoption of IFRS in the EU and summarises what it tells us about the costs and benefits of adoption. (Updated April 2015.) The report finds that there is evidence of benefits following IFRS…
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As it wraps up some major projects in the coming months and pushes through some simplification initiatives, the Financial Accounting Standards Board is starting to wonder: what’s next? Golden FASB plans to publish a discussion paper looking for input on what comprehensive accounting standard revisions the board should add to its technical agenda. FASB Chairman…
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EU should endorse new accounting standards for banks’ loss reporting, advisers say Changes to the way in which banks will be expected to account for expected credit losses on their balance sheets from 2018 are «conducive to the European public good», according to an advisory committee.
It’s been a long journey for the Financial Accounting Standards Board that will end – at least for Property & Casualty, healthcare and reinsurers of short term insurance contracts –with new disclosure requirements, which are expected to be issued late June 2015. When the board voted to issue final disclosure requirements in February, FASB Chairman…
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Now that the new revenue recognition standard is likely to be delayed by a year in the United States, international rule makers are considering the same for companies that file under International Financial Reporting Standards The staff of the International Accounting Standards Board is recommending the board consider deferring the required effective date for the…
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The Nigerian government has launched the Accrual Accounting Manual on the implementation of International Public Sector Accounting Standards (IPSAS). At a ceremony, the Accrual Accounting Manual, the Minister of State for Finance, Ambassador Bashir Yuguda, who represented the Vice President, Namadi Sambo, said the government had adopted the manual to promote transparency and accountability in…
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A recent proposal to change the presentation of financial information for not-for-profit entities, especially cash flow classifications, could serve as a preview of what might be in store for public companies down the line. The Financial Accounting Standards Board has issued a proposal meant to improve the presentation of net asset classifications presented in financial statements…
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Para que se pueda reconocer el incremento de valor, la entidad tiene que aplicar el modelo de revaluación, pero no puede incluir como componente del costo la contribución por valorización, porque no corresponde a una erogación para construir, ni añadir, ni mejorar ni reemplazar, ni operar el activo.
