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World Accounting Report RSS feed

Editorial

Online Published Date : 13 April 2016 | Appeared in issue: 19.3 - 05 April 2016

Possibly one of the most interesting things to emerge from a quiet month is the realisation that conglomerates that include an insurer could, without any change in the rules, continue to apply IAS 39 at insurance segment level after IFRS 9 has..

Simplifications to US share-based payments

Online Published Date : 13 April 2016 | Appeared in issue: 19.3 - 05 April 2016

The FASB has issued an Accounting Standards Update which provides a series of simplifications to stock compensation rules (Topic 718). The changes arise in part from the 2014 post implementation review of SFAS 123(R) but also include private company..

GE produces integrated summary report

Online Published Date : 13 April 2016 | Appeared in issue: 19.3 - 05 April 2016

In an example of integrated reporting which also illustrates the ‘core and more’ principles proposed in the better financial reporting analysis of the Federation of European Accountants (FEE), the General Electric Company (GE) has..

Different principles of materiality

Online Published Date : 13 April 2016 | Appeared in issue: 19.3 - 05 April 2016

The Corporate Reporting Dialogue (CRD) has issued a statement of common principles of materiality. The document is based on discussions between the participating members of the CRD and includes a comparative review of each organisation’s..

Simplified reporting experiment

Online Published Date : 13 April 2016 | Appeared in issue: 19.3 - 05 April 2016

General Electric have taken the bold step of issuing a simplified annual report that is supposed to cover a whole range of issues for investors and potential investors. The 68-page document has in particular taken a radical position on financial..

Research into user needs

Online Published Date : 13 April 2016 | Appeared in issue: 19.3 - 05 April 2016

The External Reporting Board (XRB) has published the results of research that shows that professional investors are more reliant on financial reports than are individual investors. It suggests there is an increasing demand for forward-looking..

Missionary campaign to Vietnam

Online Published Date : 13 April 2016 | Appeared in issue: 19.3 - 05 April 2016

IASB chairman Hans Hoogervorst was in Hanoi recently, encouraging Vietnam to take the step to adopting IFRS. He stressed the advantages of full adoption, but had to explain at the same time why China, Japan and India fall short of this. Mr..

IFRS taking over the world

Online Published Date : 13 April 2016 | Appeared in issue: 19.3 - 05 April 2016

The IASB has done an analysis of the relative GDP of countries that require or permit the use of IFRS for public companies. The figures show that countries producing approximately 60% of the world’s GDP use IFRS, and the US and China..

Simplification of equity method

Online Published Date : 13 April 2016 | Appeared in issue: 19.3 - 05 April 2016

Under its general simplification initiative, the FASB has removed the requirement to make retrospective adjustments when an equity investment passes a threshold to be treated as an associate. The previous requirement was to go back to past..

Non-financial information and investment

Online Published Date : 13 April 2016 | Appeared in issue: 19.3 - 05 April 2016

The Federation of FEE has published its response to the European Commission’s consultation on long term and sustainable investment. FEE says it believes investors take into account information on environmental, social and governance (ESG)..