IFRS outlook

The October issue of IFRS outlook (pdf, 381kb) contains features on:

• The accounting profession responds to the credit crisis  –  The last few weeks have seen significant developments in the global credit crisis, leading some to call for greater alignment of IFRS with US GAAP. Learn more about how these developments will impact financial instruments.
• Testing for impairment during financial crises and recession  –  A discussion paper, recently issued by the IASB, proposes significant changes to accounting for post-employment benefits. The key changes proposed impact existing smoothing mechanisms, presentation of defined benefit promises, introduce a new category of benefits and a new accounting model for contribution-based benefits. Find out more about the potential impact of these proposed changes.
• Distributor arrangements  – In the last few years, the complexity of distribution arrangements has increased and accounting for these services has become more complicated. In the absence of specific guidance, read about the decisions that need to be made when assessing such arrangements and determining an appropriate accounting approach.
• Financial reporting developments  – Find out about the Board’s discussions that could significantly impact your business: the impact of the credit crisis and some of the major tentative decisions regarding the Revenue Recognition and IFRS for Private Entities projects.

View previous editions of:

•  IFRS outlook (formerly Global EYe on IFRS)

•  Supplement to IFRS outlook

•  Developments in IFRS for financial instruments

•  IFRS alert

Also see:

•  Observations on the Implementation of IFRS
(pdf, 3.8mb)

•  Towards convergence: a survey of IFRS to US GAAP differences (pdf, 856kb)

Supplement to IFRS outlook

Supplement to IFRS outlook addresses particular issues arising in IFRS. This publication replaces Developments in IFRS for financial instruments, IFRS alert and Practical issues in IFRS for financial instruments.

Issue 19: Highlights the IASB Expert Advisory Panel discussion on measuring and disclosing fair value of instruments in financial markets that are no longer active.(pdf, 180kb)

Issue 18: Provides additional information on the Reclassification of financial assets, (part 2)(pdf, 1mb)

Issue 17: Summarizes the ED on Improving Disclosures about Financial Instruments - Proposed amendments to IFRS 7(pdf, 187kb)

Issue 16: Summarizes the recently issued IASB amendments to IAS 39 Financial Instruments: Recognition and Measurement and IFRS 7 Financial Instruments: Disclosures(pdf, 113kb)

Issue 15: Summarizes the discontinued operations Exposure Draft, a proposed amendment for IFRS 5 (pdf, 86kb)

Issue 14: Summarizes the amendment to IFRS 1, proposing additional exemptions for first time adopters (pdf, 121kb)

Issue 13: Summarizes the Exposure Draft on IAS 33 simplifying earnings per share (pdf, 153kb)

Issue 12: Summarizes the improvements Exposure Draft proposed for International Financial Reporting Standards (pdf, 129.2kb)

Issue 11: Summarizes the recently issued amendment to IAS 39 Financial Instruments: Recognition and Measurement regarding hedging portions of risks (pdf, 128.4kb)

Issue 10: IFRIC 15 addresses divergent accounting treatments for sale of property under construction, provides guidance on whether the agreement falls within IAS 11 or IAS 18. (pdf, 153kb)

Issue 9: IFRIC 16 considers how an entity can hedge risks from its net investments and, the importance of a recycling policy for gains/losses on disposals. (pdf, 236kb)

Issue 8: An update of the publication, "Accounting for the credit crisis part I", and summarizes some of the developments in the last six months. (pdf, 344kb)