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Grant Thornton International Ltd comments on IASB Exposure Draft ED/2015/3 'Conceptual Framework for Financial Reporting'

This publication brings you up to speed on IFRS 9's new classification and measurement requirements.

This IFRS Viewpoint considers how a purchaser accounts for discounts and rebates when buying inventory.

Drawing on interviews from our IBR and other sources this report explores the opportunities and challenges for business growth in Asia-Pacific. The slowdown in China, regional tensions and ageing populations emerge as key threats to regional growth prospects, while businesses are excited by the Trans-Pacific Partnership and increased ASEAN cooperation.

The dramatic and sustained drop in the global oil price led to a certain amount of doom mongering around the cleantech sector. The fear, of course, was that cheaper fossil fuels would make clean energy investments less competitive.

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.

The practical impact of the OECDs recommendations and the key issues that should be on your radar as a tax function and head of tax.

As productivity rates fall, businesses and governments need to find new ways to make inputs work harder if living standards are to be maintained.

New research from Grant Thornton’s International Business Report (IBR) reveals the extent to which contagion caused by China’s economic slowdown is spreading to businesses around the world. Business confidence and expectations for revenue and exports are down, not just in China’s near neighbours, but in several major economies which count on the world’s second biggest economy as a major trading partner.

Tomorrow, we can expect new technologies enabling the internet of things to create opportunities for future fast-growth companies. Some will become industry leaders – the Xiaomis and Ubers of tomorrow. Many more will fail – either because their offering wasn’t differentiated enough, or because their management made the wrong decisions.

This IFRS viewpoint addresses whether to treat the acquisition of an investment property as an asset purchase or a business combination. This is an important issue because the IFRS accounting requirements for a business combination are very different from asset purchases.

Comparison with evolution of women in Downton Abbey shows companies lagging behind society in terms of gender diversity.

5 October 2015 was a good day for companies operating across borders, with agreements on global transfer pricing rules (Base Erosion Profit Sharing or BEPS) and the Trans-Pacific Partnership (TPP).

Cyber-attacks are set to grow in their number and nature; those companies that embed security measures into their culture will be most successful at fending them off, says Paul Jacobs

So will the Base Erosion and Profit Shifting (BEPS) Action Plan result in a tax system that’s fairer, more efficient and more understandable?

This IFRS viewpoint provides a framework for accounting for loans made by an entity to a related party that are at below-market levels of interest.