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Financial Reporting Insights

2017 Effective Date Reminder

Our Effective Date Reminder lists pronouncements issued as of Nov. 1, 2017, which became effective on or after Jan. 1, 2017.




Financial Reporting Insights

Making materiality judgments

IASB Practice Statement 2 provides practical guidance about making materiality judgments in the application of IFRS.


Financial Reporting Insights

Proposed narrow amendments to IAS 16

Proposed amendments address the accounting for net proceeds from selling items produced while an asset is being made available for use.


Financial Reporting Insights

Uncertainty over income tax treatments

IFRIC 23 provides specific guidance for how uncertainty about a tax treatment should be reflected in the accounting for income taxes.



Financial Reporting Insights

Proposed narrow exception to IFRS 9

Recent proposed amendments to IFRS 9 address the accounting for certain prepayable financial assets with negative compensation.


Financial Reporting Insights

Proposed improvements to IFRS 8

If finalized, recent proposed amendments would make revisions to International Financial Reporting Standard 8, Operating Segments.




Financial Reporting Insights

IASB issues minor changes to IFRS

The International Accounting Standards Board has issued several minor amendments to International Financial Reporting Standards.




Financial Reporting Insights

Applying IFRS 9 with IFRS 4

Amendments to IFRS 4 address accounting volatility that can arise if IFRS 9 is applied before the new standard is issued.



Financial Reporting Insights

Narrow-scope amendments to IFRS 2

Recent amendments clarify how to account for certain types of share-based payment transactions.


Financial Reporting Insights

Proposed amendments to IFRS 3 and IFRS 11

Recent proposed amendments address the definition of a business, and the accounting for previously held interests in a business.


Financial Reporting Insights

RSM Reporting newsletter – May 2016

RSM International recently published the May 2016 edition of its quarterly publication, which covers global accounting and reporting matters.