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IFRS 16 rent concessions amended for coronavirus
Paul Merris

IFRS 16 has been amended for coronavirus-related rent concessions. The IASB has published amendments meaning lessees can choose not to consider lease modification accounting.

Amendments to IAS 1 Presentation of Financial Statements
Danielle Stewart OBE

05 March 2020

The International Accounting Standards Board (IASB) has issued narrow-scope amendments to IAS 1 Presentation of Financial Statements to clarify how to classify debt and other liabilities as current or non-current.

Proposed amendments to FRS 101
Paul Merris

20 February 2020

The Financial Reporting Council (FRC) is proposing two minor amendments to FRS 101 Reduced Disclosure Framework. Comments are requested by 16 March 2020.

IFRS 9 – advice for non-banking entities
Paul Merris

14 February 2020

Overview of the FRC’s main messages to non-banking entities on disclosures in IFRS 9. The thematic review covered classification and measurement; impairment and hedging.

Help with IFRS 15 disclosures
Paul Merris

20 November 2019

An overview of the FRC’s thematic review of IFRS 15 aimed at helping companies to improve disclosures in the future. It also highlights the areas of focus that the FRC will monitor as the standard continues to be embedded.

IAS 1 consultation aimed at increasing the relevance of accounting policy disclosures
Danielle Stewart OBE

21 October 2019

The IASB is proposing changes to the IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements with the objective of making disclosures of accounting policies more relevant to users.

IASB consults on changes to IFRS
Danielle Stewart OBE

17 July 2019

IASB consulting on amendments to: IFRS 1 First-time Adoption of International Financial Reporting Standards; IFRS 9 Financial Instruments; IFRS 16 Leases; and IAS 41 Agriculture.

The impact of new energy and carbon reporting requirements on large unquoted companies, LLPs and quoted companies
Danielle Stewart OBE

21 May 2019

New carbon and energy reporting requirements have been introduced for large unquoted companies, LLPs and quoted companies, effective for financial periods beginning on or after 1 April 2019.

Update to definition of ‘material’ in IFRS standards
Paul Merris

31 January 2019

The IASB has made amendments to the definition of material. The updated definition amends IAS 1 and IAS 8 . It is effective from 1 January 2020.

A quarter of manufacturers unprepared for IFRS16 leasing standards
Mike Thornton

06 November 2018

New leasing standards come into effect next year which aim to increase transparency within financial reporting, but a quarter of manufacturers are not prepared for the change which will impact key performance ratios, a new survey has found.

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