Displaying 10 of 53 results
Exceptional items

29 April 2020

The number and size of exceptional items that will need to be recognised and presented in the profit and loss account due to coronavirus are likely to be substantial.

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.

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.

Amendments to the business definition in IFRS 3: Business Combinations

29 November 2018

IASB has amended the business definition in IFRS 3. Contact RSM to learn more about the changes.

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.

Financial instruments with characteristics of equity consultation (IAS 32)
Paul Merris

14 September 2018

The International Accounting Standards Board (Board) has published a Discussion Paper on how companies issuing financial instruments should classify them in their financial statements.

What do the amendments to FRS 102 really mean for intangible assets?
Paul Merris

14 February 2018

In the amendment to FRS 102 - Triennial review 2017 the FRC is aiming to reduce the cost of accounting for business combinations. It states that fewer intangibles will need to be recognised separately from goodwill going forwards. However, entities will need to take care.

Amendments to IFRS 9 and IAS 28

27 November 2017

The International Accounting Standards Board (IASB) has issued narrow scope amendments to IFRS 9 Financial Instruments and to IAS 28 Investments in Associates and Joint Ventures.