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Grant Thornton International Ltd comments on IASB ED/2015/6 Clarifications to IFRS 15

Grant Thornton International Ltd comments on ED/2015/5: Proposed amendments to IAS 19 and IFRIC 14

The preparation of financial statements in accordance with IFRS is challenging. Each year the requirements are changing as a result of new standards or amendments that become effective. These changes have the potential to significantly impact both the presentation of the primary statements and the accompanying disclosures. This illustrative set of example financial statements demonstrates good practice in the application of the presentation and disclosure requirements of IFRS for year-end reporters. It reflects changes in IFRS that are effective for the year ending 31 December 2015.

IFRS News Special Edition on the IFRS for SMEs

Although some see International Financial Reporting Standards (IFRS) as a regulatory burden, the evidence suggests that global standards actually oil and accelerate the wheels of global economic growth. Andrew Watchman explains.

Grant Thornton International Ltd comments on ED/2015/2 Effective Date of IFRS 15 – Proposed amendments to IFRS 15

IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

This illustrative set of financial statements sets out good practice in the application of the presentation and disclosure requirements of IFRS for year-end reporters. It reflects changes in IFRS that are effective for the year ending 31 December 2013.

This illustrative set of interim financial statements sets out good practice in the application of the presentation and disclosure requirements of IFRS for companies preparing condensed interim financial statements for a six month accounting period beginning on 1 January 2014. It reflects changes in IFRS that are effective for the year ending 31 December 2014.

IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

Grant Thornton International Ltd has commented on the IASB's Exposure Draft 'Recognition of Deferred Tax Assets for Unrealised Losses'.

Grant Thornton looks at the potential impact of IFRS 15 'Revenue from Contracts with Customers' for revenue recognition in the life sciences industry.

Grant Thornton International Ltd has commented on our experience of the IAS Regulation.

Grant Thornton International Ltd has commented on ‘IAS 16 Property, Plant and Equipment - accounting for proceeds and costs of testing on PPE'.

IFRS 9 fundamentally rewrites the accounting rules for financial instruments, introducing a new approach for financial asset classification and replacing the now discredited incurred loss impairment model with a more forward-looking expected loss model. All in addition to the major new requirements on hedge accounting that we reported on at the end of 2013. This special edition of IFRS News outlines the new Standard’s requirements, and the benefits and challenges that it will bring.

Grant Thornton International Ltd has commented on the IASB's Exposure Draft 'Investment Entities: Applying the Consolidation Exception'.