Beyond the GAAP no.120 - March 2018
Enjoy your reading!
Edouard Fossat Isabelle Grauer-Gaynor
Meanwhile, the European standards adoption process has started up again, with no fewer than five documents adopted into EU law since this February. At the last count published by EFRAG, there are still six documents due to be adopted in the near future and in time for entities to be able to apply them at the IASB’s proposed effective date.
IFRS highlights broadly covers the following topics:
- Proposed amendments to IAS 8
- The new Conceptual Framework is here!
- Costs considered in assessing whether a contract is onerous (IAS 37)
European highlights broadly covers the following topics:
- Adoption of amendments to IFRS 2 on the classification and measurement of share-based payment transactions
- Adoption of amendments to IAS 40
- Adoption of amendments to IFRS 9
- Adoption of IFRIC 22 interpretation
- Adoption of the 2014-2016 cycle of Annual Improvements
- EFRAG continuing work on the accounting treatment of investments in equity instruments under IFRS 9
- Quantified impacts of IFRS 9: initial findings for the European banking sector
- EFRAG publishes three background briefing papers on insurance contracts
- European Commission publishes EU action plan on financing sustainable growth
- European Commission launches fitness check on public reporting by companies