The IASB Extends Support for Covid-19-Related Rent Concessions
The IASB extends by one year, the application period of the practical expedient in IFRS 16 Leases to help lessees accounting for covid-19-related rent concessions.…
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IASB Improves Accounting Policy Disclosures and Clarifies Distinction Between Accounting Policies and Accounting Estimates
The IASB has issued narrow-scope amendments to IFRS Standards that improves accounting policy disclosures and clarifies distinction between accounting policies and accounting estimates. The amendments…
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IFRS Foundation Publishes Educational Material on Going Concern
The IFRS Foundation has issued educational material to support companies in consistent application of going concern requirements under International Financial Reporting Standards (IFRS). The educational…
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IASB Proposes Amendments to IFRS 16 Leases
The IASB proposes amendments to IFRS 16 Leases by specifying how a company measures the lease liability in a sale and leaseback transaction. Sale and leaseback transactions…
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IASB Defers the Effective Date of the Amendments to IAS 1
The IASB defers the effective date of Classification of Liabilities as Current or Non-current by one year, which amends IAS 1 Presentation of Financial Statements. Classification of…
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IASB Proposes Deferring IAS 1 Amendments
IASB Proposes Deferring IAS 1 Amendments’ Effective Date due to COVID-19. The IASB is proposing to defer by one year the effective date of Classification of…
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IASB Proposes Guidance on COVID-19 Rent Concessions
The International Accounting Standards Board (IASB) has issued the Exposure Draft, Covid-19-Related Rent Concessions. The comment deadline is May 8, 2020. The Exposure Draft proposes…
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IASB to Propose Amendments to IFRS 16
The International Accounting Standards Board (IASB) held a supplementary meeting on April 17, 2020, to discuss COVID-19 related matters. At that meeting, the IASB decided…
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IASB Proposes Additional IFRS Amendments on Interest Rate Benchmark Reform
The IASB has proposed amendments to IFRS Standards to assist companies in providing useful information to investors about the effects of interest rate benchmark reform on financial…
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IASB Releases Guidance on Application of IFRS 9 During Time of Uncertainty Due to COVID-19 Pandemic
The International Accounting Standards Board (IASB) has released the document, IFRS 9 and COVID-19—Accounting for Expected Credit Losses Applying IFRS 9 Financial Instruments in the…
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