"Beyond the GAAP" newsletter
Beyond the GAAP is Mazars’ monthly newsletter on accounting standards. This newsletter can be useful as part of an active monitoring of changes to International Financial Reporting Standards (IFRS). It presents a summary of IASB discussions, exposure drafts and newly adopted IFRS.
As this letter is published by our central team in Paris, it includes specifics topics with regards to the European situation. The sections of particular interest for Canadian entities are:
- IFRS News under the section Highlights : It provides a quick overview of changes to come to IFRS.
- The section A Closer Look presents detailed analyses of particularly topical and interesting subjects with regards to IFRS.
Enjoy your reading!
Beyond the GAAP no.53 (English) - February 2012
At the time of writing this editorial, the IASB Update – the official publication reporting on Board meetings – had not yet been published, as the IASB’s last meeting spanned the end of February and the beginning of March. As a result, it is difficult for us to report on the Board’s provisional decisions, given that the subjects discussed were particularly complex and open to interpretation.
Beyond the GAAP no.52 (English) - January 2012
It is already clear that 2012 will be a crucial year for the IASB. During the course of this year, the final texts of the joint projects on financial instruments, revenue recognition, leases and insurance contracts should all be published. Much is thus expected of the IASB.
Beyond the GAAP no.61 (English) - November 2012
Once again, year-end reporting has come around! Unfortunately, you might be tempted to say. As in 2011, it’s not the new accounting texts which will make this a tricky exercise; it’s the background of crisis. Yet again, much is expected of issuers in terms of the quality and clarity of their disclosures, in particular regarding the impairment of financial and non-financial assets, the discount rate of future pension liabilities, and provisions for risks and expenses. This is what emerges from ESMA’s recommendations.
Beyond the GAAP no.62 (English) – December 2012
Over the course of the year, the IASB has redoubled its efforts on the financial instruments, revenue recognition, leases and insurance contracts projects – but has not yet published final standards for any of them. December 2012 saw nothing more significant than the publication of the proposed limited amendments to IFRS 10 and IAS 28, and to IFRS 11.
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