IFRS News: What’s Happened this Quarter, Summarized by Grant Thornton

IFRS News Offers Summary of Significant Developments in International Financial Reporting Standards (IFRS)  

Grant Thornton’s IFRS team publishes a quarterly update on developments in the international accounting arena:

Our final edition of 2012 starts with a look at the IASB’s review draft of a forthcoming new Standard on hedge accounting and its main implications. We then look at how the IASB’s other projects are progressing as well as considering some IFRS-related developments.

We go on to IFRS-related news at Grant Thornton, including the publication of new guides on IFRS 10 ‘Consolidated Financial Statements’ and IAS 7 ‘Cash flow statements’. We end with a more general round-up of activities affecting the IASB, and the implementation dates of newer Standards that are not yet mandatory.

Some topics the report touches on specifically

• Hedge accounting to move closer to real-world risk management
• IASB on-track to finalise an exemption from consolidation for investment entities
• EFRAG paper sets out possible disclosure framework  for the notes
• Report looks at best practice in disclosure of net debt

 Download the entire PDF. 

 

Accounting World Standards Converge