Category Archives: Financial Reporting Updates

What topic would you like TheGAAP.net to present in one of our upcoming workshops?

ifrs_relevance

If we haven’t had that workshops topic before, and we choose your idea; we will award you two tickets to attend and an exclusive meet and greet with the founder of TheGAAP.net (Paul J. Calleri) shortly following the workshop. TheGAAP.net has just presented: Time Management Solutions for Increased Productivity in February and is back by popular demand on April the

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What CPA accounting topic would you like TheGAAP.net to present in one of our upcoming workshops?

Speaker at Business Conference and Presentation. Audience at the conference hall.

If we haven’t had that CPA accounting topic before, and we choose your idea; we will award you two tickets to attend and an exclusive meet and greet with the founder of TheGAAP.net (Paul J. Calleri) shortly following the workshop. TheGAAP.net has just presented: Time Management Solutions for Increased Productivity in February and is back by popular demand on April

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PSAB’s Chair, Rod Monette, highlights discussions held at the Board’s March 2016 meeting and other topics.

June 1, 2016

Our March meeting saw many projects and initiatives move forward. As reported by The Standard. Use of Public Sector Financial Statements by Credit Rating Agencies We received a presentation from Standard & Poor’s Ratings Services about the credit ratings process and how they use the financial statements of public sector entities. Our Strategic Plan Our draft 2017-2020 strategic plan was

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Accounting Standards Board: Agenda for May 18, 2016 Meeting

Agenda

The topics the Accounting Standards Board (AcSB) plans to discuss, in addition to routine updates, and anticipated actions, if any, are outlined below. Although current at the date prepared (May 3, 2016), this agenda is subject to change. As reported by “The Standard”. International Financial Reporting Standards Pensions Research Discuss the staff’s research into the type of pension plans used

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Accounting Standards Board – Decision Summary – April 20, 2016

Decisions

April 20, 2016 – This summary of Accounting Standards Board (AcSB) decisions has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussion on projects, which may change after further deliberations by the AcSB. Decisions to publish Handbook material are final only after a formal ballot process. International Financial Reporting Standards Accounting

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AcSB Annual Plan – 2016-2017

accounting update

The Annual Plan sets out the AcSB’s objectives and planned activities for publicly accountable enterprises, private enterprises and not-for-profit organizations, along with other initiatives to be undertaken in 2016-2017. As reported by The Standard. Overview In the AcSB 2016-2021 Strategic Plan, we concluded, and Canadians strongly agree, that the overall strategies adopted for the various categories of reporting entity are meeting

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Accounting Standards Board Decision Summary March 22-23, 2016

updates

This summary of Accounting Standards Board (AcSB) decisions has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussion on projects, which may change after further deliberations by the AcSB. Decisions to publish Handbook material are final only after a formal ballot process. As reported by “The Standard”. International Financial Reporting Standards

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AcSB 2016-2021 Strategic Plan – Accounting Standards in Canada: At the Leading Edge of Financial Reporting

IFRS update

Read the new five-year Strategic Plan, which takes effect on April 1, 2016. The Plan continues the overall strategies already adopted for the different categories of private sector reporting entities, and improves how they are being implemented. The AcSB is an independent body with the authority to establish accounting standards for use by all Canadian entities outside the public sector.

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Accounting Update – New UAE Companies Law requires IFRS

accounting update

The IFRS Foundation has announced a new Commercials Companies Law. Commercials Companies Law No. 2 of 2015 came into effect in the United Arab Emirates and requires all UAE (United Arab Emirates) companies to apply the international accounting standards and practices, namely IFRS. The previous laws had only required compliance with international standards and practices, which had been interpreted as

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PROPOSED AMENDMENTS TO IAS-1

Changes to IAS-1

Background: Issue of clarifying how entities classify debt, especially when it comes up for renewal was originally discussed in Annual Improvements to IFRSs (2010-2012 cycle) whereby amendments were proposed to clarify that a liability is classified as non-current if an entity expects, and has discretion, to refinance or roll-over the liability for at least 12 months (after reporting period end)

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