Our latest IFRS News provides perspectives on key considerations for impairment tests, current IC rejections and the PwC leases lab.
IFRS 15 – Time is running out
Companies are facing the adoption of several major new accounting standards in the next few years. For many it will be the most significant change in accounting since the adoption of IFRS.
Beware of Value in Use
Mary Dolson talks through the common pitfalls of using value in use (VIU) in an impairment review.
Impairment of non-financial assets under IAS 36 remains a hot topic with regulators and users. Six years past the start of the financial crisis, slow or no growth and low commodity prices continue to challenge companies. These issues and new ‘unknowns’ such as Brexit are working their way through into impairment testing.
Cannon Street Press
- Disclosure initiative
- Conceptual Framework
- Clarifications to IFRS 8 Operating Segments arising from the Post implementation Review
- IFRS Implementation issues
- Financial Instruments with Characteristics of Equity
The PwC leases lab
Contracts for the use of an asset in a predetermined manner will not meet the definition of a lease and result in fewer leases recognised on the balance sheet.
Demystifying IFRS 9
Credit risk management sits at the core of banking and IFRS 9’s new expected credit loss (ECL) requirements go straight to the heart of this. This first column in our series looks at how to understand and apply IFRS 9’s new impairment requirements for financial assets.
In brief – A look at current financial reporting issues
- More flexibility in the application of IFRS 9 – the IASB publishes an amendment to IFRS 4: PwC In brief INT2016-16