News Listings

The AcSB discussed Contributions, Sustainability, Strategic Research, Crypto-asset activities, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The IASB issued narrow-scope amendments to IAS 1, Presentation of Financial Statements, which improve the information an entity provides when its right to defer settlement of a liability for at least twelve months is subject to compliance with covenants. The AcSB will ballot the final amendments and complete its endorsement process in Q4 2022.

The AcSB has issued an amendment to Section 3400, Revenue, to defer the effective date for previously issued amendments relating to upfront non-refundable fees or payments from fiscal years beginning on or after January 1, 2022, to fiscal years beginning on or after January 1, 2025. Earlier application is permitted.

The AcSB has issued new Accounting Guideline AcG-20, Customer’s Accounting for Cloud Computing Arrangements, applicable to private enterprises and not-for-profit organizations. This new Guideline is effective for fiscal years beginning on or after January 1, 2024 with earlier application permitted.

The AcSB wants your feedback on its proposed amendments to Related Party Transactions, Section 3840.

The proposed amendments address accounting for a combination between enterprises or businesses under common control and financial assets acquired or financial liabilities assumed in a combination between enterprises under common control. Submit your comments by January 31, 2023.

The AcSB discussed Contributions, Crypto-asset Lending, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

At its September 21, 2022, meeting, the Group discussed hot topics such as the impact of rising inflation and interest rates on financial reporting, the financial reporting implications of OECD Pillar Two GloBE Rules, and the accounting for cash received via electronic transfer as settlement for a financial asset. Read the meeting report for details.

The IFRS Discussion Group wants to hear about the challenges you face when applying IFRS Standards. Submit your issue by November 2, 2022, for consideration as a discussion topic at our December 5, 2022, virtual meeting.

The Accounting Standards Oversight Council (AcSOC) is pleased to announce that Armand Capisciolto, FCPA, FCA, current interim Accounting Standards Board (AcSB) Chair, will be appointed as permanent Chair effective May 1, 2023.

The IASB issued narrow-scope amendments to add subsequent measurement requirements to IFRS 16 Leases. The amendments explain how a company accounts for a sale and leaseback after the date of the transaction. The AcSB will ballot the final amendments and complete its endorsement process in Q4 2022.