Sat 22 May 2021
This publication looks at the key good disclosure points that companies should include within their interim reporting, as well as those aspects that companies should look to avoid.
Please use the following link to view the Hot Topic publication:
Introduction The International Accounting Standards Board (IASB) has published amendments to IAS 12 Income Taxes (IAS 12) that introduce a temporary exception to the recognition of deferred taxes resulting from the implementation of the OECD Pillar Two rules, and that require targeted disclosures on entities’ exposure to these new tax rules. Additionally, the Financial Reporting Council (FRC) has […]
One of the concepts introduced by IFRS 9 Financial Instruments (IFRS 9) (effective for IFRS reporters other than insurance companies since 2018) is the “solely payments of principal and interest” (SPPI) test. This test must be met for a financial asset to be measured at amortised cost, rather than fair value. A financial asset will […]
Entities may be aware that in December 2021, the Organisation for Economic Co-operation and Development (OECD) published its Pillar Two model rules (“the rules”). The rules address the tax challenges arising from the digitalisation of the economy and were agreed by jurisdictions representing more than 90% of global GDP. The rules aim to ensure that […]
IAS 1 Presentation of Financial Statements sets out the circumstances in which an entity is required to classify a liability as current. One of those circumstances, set out in sub-paragraph 69(d), is when the entity does not have an unconditional right to defer settlement of the liability for at least 12 months. In January 2020, […]
Here we set out two summary technical publications, one for IFRS reporters and one for UK GAAP reporters, that set out the key accounting and corporate reporting considerations and reminders for the 2021/2022 reporting season. Publication for IFRS reporters: https://blogs.mazars.com/mindthegaap/files/2022/01/Hot-Topic_-Corporate-Reporting-Overview-2021-22_IFRS-FINAL.pdf Publication for UK GAAP reporters: https://blogs.mazars.com/mindthegaap/files/2022/01/Hot-Topic_-Corporate-Reporting-Overview-2021-22_UK-GAAP-FINAL.pdf
The International Accounting Standards Board (IASB) is currently consulting on its activities and its work plan for the next five years: Request for Information: Third Agenda Consultation. The comment period open until 27 September. Background and overview of the current work plan This is the third agenda consultation; an exercise that began in 2011, at the […]
At the March 2021 International Accounting Standards Board’s (“IASB”) meeting, the Board members began the anticipated task of redeliberating the proposals set out in the exposure draft: General Presentation and Disclosures (“ED”), which was published in December 2019 (and was open for comment until 30 September 2020). For a summary of the original proposals, please […]
The International Accounting Standards Board (“IASB”) has published an amendment to IFRS 16 Leases Covid-19-Related Rent Concessions beyond 30 June 2021 that extends by one year the application period of the amendment to IFRS 16 Leases issued last year (May 2020 amendment) to support lessees account for Covid-19-related rent concessions. Because the pandemic is still at its […]
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