News

IASB and FASB issue ED Revenue from Contracts with Customers

The IASB and the FASB issued for public comment a revised draft standard to improve and converge the financial reporting requirements of IFRSs and US GAAP for revenue recognition. If adopted, the proposed standard would replace IAS 18 Revenue, IAS 11 Construction Contracts and related Interpretations. The exposure draft Revenue from Contracts with Customers is open for public comment until 13 March 2012. It is...

EFRAG and European Commission organize outreach on the IASB Agenda Consultation

EFRAG and the European Commission have organized a joint European outreach event on the IASB post-convergence Agenda Consultation on Friday 25 November 2011 in Brussels at the Albert Borschette Conference Centre (10.30 – 13.00 hrs), in order to obtain input from European constituents about the main priorities the IASB should have. Speakers include: Françoise Flores, EFRAG Chairman and Philippe Danjou Board...

EFRAG and OIC issue a discussion paper “Accounting for Business Combinations under Common Control”

The European Financial Reporting Advisory Group and the Organismo Italiano di Contabilità have published today a Discussion Paper ‘Accounting for Business Combinations under Common Control’.  The Discussion Paper is part of EFRAG’s ongoing proactive work with European National Standard Setters. The objective of the project is to stimulate debate about how business combinations under common control should be...

Consultazione OIC su Agenda IASB post 2011

On 26 July 2011 the IASB published for public commet the Request for Views Agenda Consultation 2011. Comments can be send until 30 November 2011. This agenda consultation is an opportunity for all those interested in financial reporting to contribute to the future shape of the IASB’s agenda. The IASB wants to understand what stakeholders think its broad strategic priorities should be in allocating resources...

OIC’s comments on IASB ED Deferral of mandatory effective date of IFRS 9

The OIC’s comment letter on IASB ED Deferral of mandatory effective date of IFRS 9, in reply to EFRAG’s draft comment letter is now available. Please find the document herewith attached

IASB issues ED Government Loans – Proposed amendments to IFRS 1

The IASB published for public comment ED Government Loans – Proposed amendments to IFRS 1. The exposure draft is open for comment until 5 January 2012. It is available on the IASB website. Please find the press release herewith...

IASB issues IFRIC Interpretation 20 Stripping Costs in the Production Phase of a Surface Mine

The IASB issued IFRIC Interpretation 20 Stripping Costs in the Production Phase of a Surface Mine. The Interpretation is effective for annual periods beginning on or after 1 January 2013 with earlier application permitted. Please find the press release herewith attached.

OIC’s comments on IFRS IC tentative agenda decision on IAS 12

The OIC’s comment letter on IFRS Interpretation Committee tentative agenda decision on IAS 12 Income Tax— Rebuttable presumption to determine the manner of recovery, in reply to EFRAG’s draft comment letter is now available. Please find the document herewith attached.