News Listings

Watch the video recording of our Group’s May meeting. Agenda topics included IAS 12: Accounting for Deferred Tax Assets under OECD Pillar Two GloBE Rules, IAS 36: Assessment of Cash Generating Units (CGUs) in a Production Facility with Multiple Production Lines When One of the Products Has a Declining Market Demand, and more. Don’t miss out on the latest IFRS news! Watch our meeting for a limited time, on demand.

Read the feedback statement for AcSB's 2023 Exposure Draft, “Contributions – Revenue Recognition and Related Matters” to learn how your feedback has shaped the future direction of the Contributions project.

The AcSB issued an amendment to Section 3400, Revenue, to indefinitely defer the effective date of previously issued amendments relating to upfront non-refundable fees or payments. Earlier application is permitted. The amendments also introduce a disclosure requirement for some upfront non-refundable fees or payments.

The AcSB discussed Financial Statement Concepts, Contributions, its performance report, and more. Read the Decision Summary for full details.

The AcSB issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. If you would like your feedback considered prior to our Board finalizing our comment letter, please respond by June 14, 2024. 

The IASB’s recently released Exposure Draft, “Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard,” supplements the Exposure Draft published in September 2022. We encourage you to respond directly to the IASB by July 31, 2024, to help shape accounting standards for SMEs.

The IASB’s newly issued IFRS Accounting Standard, IFRS 18 Presentation and Disclosure in Financial Statements, aims to improve the usefulness of information presented and disclosed in financial statements. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

The AcSB will ballot IFRS 18 and complete its endorsement process in Q2 2024. Find out more. 

On March 28, 2024, the AcSB responded to the IASB’s Exposure Draft, “Financial Instruments with Characteristics of Equity,” issued in November 2023. The AcSB’s letter expressed overall support for the proposed disclosure and financial statement presentation requirements but noted that the classification and measurement proposals do not achieve the IASB’s objectives for the project. Read our letter to find out more! This letter is posted on an external website; if you need an accessible version, please email us at [email protected]. 

Read our overview of the IASB’s Exposure Draft “Business Combinations – Disclosures, Goodwill and Impairment,” and how it impacts your business. The proposed amendments affect how entities perform their goodwill impairment assessments and enhance disclosure requirements for business combinations. 

The AcSB invites you to share your input on its Subsequent Measurement of Goodwill and Acquired Intangible Assets project to address challenges faced by private enterprises and not-for-profit organizations.