3rd Sep 2013
Professional Developments and News from around the World
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have formally announced plans to create a group dealing with the final converged standard on revenue recognition,which is due to be released later this year.
22nd Feb 2013
Update 11 - Standards/interpretations issued not yet effective
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors requires that when an entity has notapplied a new Standard or Interpretation that has been issued but is not yet effective, the entity shall disclose certain facts.
9th Nov 2012
Ammendments to IFRSs
There are a number of amendments to IFRSs that become effective or are available for early adoption for financial statements for years ending 31 December 2012. This update provides an overview of these amendments.
7th Sep 2012
Update 9 - Transitional Guidance for IFRS 10, IRFS 11 & IFRS 12
On the 28th June 2012 the International Accounting Standards Board (IASB) issued amendments to IFRS 10 Consolidated Financial Statements (IFRS 10), IFRS 11 Joint Arrangements (IFRS 11) and IFRS 12 Disclosure of Interests in Other Entities (IFRS 12). The amendments change the transition guidance to provide further relief from full retrospective application.
6th Aug 2012
FASB and IASB Joint Projects - A Guide.pdf
Incorporates activities and tentative decisions made up to 30 June 2012 made by the FASB & IASB on current joint projects.
22nd Jun 2012
Update 7 - IFRIC 20 - Stripping costs in the production phase of a surface mine
At their February 2012 meeting the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) (collectively the Boards) discussed some potential changes to their preliminary decisions in their joint leases project and in the joint Boards meeting in April 2012 confirmed that the Boards were still undertaking outreach activities.
27th May 2012
PKF Update 6
At their February 2012 meeting the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) (collectively the Boards) discussed some potential changes to their preliminary decisions in their joint leases project and in the joint Boards meeting in April 2012 confirmed that the Boards were still undertaking outreach activities.
1st Apr 2012
PKF Update 5 - Fair Value Measurement
In November 2006 the International Accounting Standards Board (IASB) published a discussion paper Fair Value Measurements, using the US Financial Accounting Standards Board (FASB) Statement No 157, Fair Value Measurements (Statement 157) (subsequently codified as Topic 820) as a basis for its preliminary views.
1st Mar 2012
PKF Update 4 - IFRS for SMEs
On 9 July 2009 the International Accounting Standards Board (IASB) published an International Financial Reporting Standard (IFRS) designed for use by small and medium-sized entities (SMEs). SMEs include all entities that are not publicly traded and that are not banks or similar financial institutions.
28th Feb 2012
PKF Update 3 - Disclosure of Interest in Other Entities
The International Accounting Standards Board (IASB) recently issued a new standard, IFRS 12 Disclosure of Interest in other Entities that is effective for annual periods.
15th Feb 2012
PKF Update 2 - Joint Arrangements
The International Accounting Standards Board (IASB) recently issued a new standard, IFRS 11 Joint Arrangements that is effective for annual periods beginning on or after 1 January 2013.
1st Feb 2012
PKF Update 1
The International Accounting Standards Board (IASB) recently issued a new standard, IFRS 10 Consolidated Financial Statements, that is effective for annual periods beginning on or after 1 January 2013.