Newsletter "Beyond the GAAP"

A Newsletter "Beyond the GAAP" é publicada mensalmente pela Mazars. O objectivo deste documento é manter o leitor informado sobre os desenvolvimentos na área da contabilidade.

Beyond the GAAP no.145 - June 2020

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In contrast to the three previous issues, Beyond the GAAP is back to its traditional format this month, with no COVID-19 supplement. Things are getting back to normal as regards accountancy news, although it is expected that further statements will be published locally for instance on the consequences of the crisis on accounting for State-guaranteed loans in France.
In this issue, Beyond the GAAP sets out the most recent agenda decisions published by the IFRS Interpretations Committee. While the final agenda decisions reached in June are unlikely to have any major impact on preparers, the ongoing discussions on reverse factoring constitute a trickier issue. However, at this stage of the due process, the Committee is not planning to amend existing IFRSs. Stakeholders have until 30 September to respond to this tentative agenda decision.

LEIA MAIS

Beyond the GAAP no.146 - July & August 2020

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Unsurprisingly, the financial statements at 30 June 2020 that have been published to date reflect the significant impact of the COVID-19 crisis on companies’ financial positions. Given that the outlook for the second half of 2020 is still uncertain in many cases, issuers in particular will (unfortunately) need to draw once again on the guidance from standard-setters, regulators and the accounting profession issued to deal with the consequences of the crisis on the financial information.

LEIA MAIS

Beyond the GAAP no.144 - May 2020

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There is no doubt that the preparation of the 2020 interim accounts will be particularly difficult this year. Properly reflecting the impact of the COVID-19 crisis in the financial statements is certain to be the main subject of concern. Once again, this month’s COVID-19 supplement summarises the current issues to be taken into account, in particular the ESMA press release for listed entities.

LEIA MAIS

Beyond the GAAP no.143 - April 2020

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As the COVID-19 epidemic continues to disrupt business, with significant impacts expected on 2020 financial statements, various stakeholders (most especially standard-setters) are working hard to respond to this unprecedented crisis (cf. issue no. 2 of our COVID-19 supplement).

LEIA MAIS

Beyond the GAAP no.133 – May 2019

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As announced last month, the IASB has begun to publish a number of exposure drafts. With consultation deadlines phased from June to September, these will keep stakeholders busy throughout the summer.

LEIA MAIS

Beyond the GAAP no.134 - June 2019

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The half-yearly financial statements stand between you and your well-earned summer break, so it may be worth taking a look at the IFRS IC’s agenda decisions on IFRS 15, IFRS 16 and cryptocurrencies. After that, you could take our crossword away with you - a light-hearted edition that brings the series to a close.

LEIA MAIS

Beyond the GAAP no.135 - July August 2019

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Following the summer break, IAS 12 – Income Taxes and IFRS 17 – Insurance Contracts are in the spotlight, with consultations on both from the IASB as well as a detailed Public Statement from ESMA, the European enforcer, on the former.

LEIA MAIS

Beyond the GAAP no.136 - September 2019

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September saw the publication of two long-awaited decisions by the IFRS Interpretations Committee (IFRS IC). One related to determination of the lessee’s incremental borrowing rate when applying IFRS 16, and the other to the classification and presentation of liabilities or assets related to uncertain tax positions. This therefore seemed the ideal time to present our study of information on the impacts of initial application of IFRIC 23 presented by a sample of French and European issuers (CAC 40 and Euro Stoxx 50) in their IFRS interim financial statements to 30 June 2019.

LEIA MAIS

Beyond the GAAP no.137 - October 2019

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As the end of the year approaches, we’ve reached the time when European enforcers publish their recommendations for year-end financial reporting. Unsurprisingly, the key recommendations from ESMA and the AMF (the French market regulator) focus on IFRS 16 – Leases, IFRS 15 – Revenue from Contracts with Customers, and IFRS 9 – Financial Instruments. In this issue, we review the topics highlighted by the enforcers in their published recommendations.

LEIA MAIS

Beyond the GAAP no.138 - November 2019

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As 2019 draws to a close, we present our usual overview of applicable standards and interpretations, with IFRS 16 – Leases obviously being the key new standard for this year.

LEIA MAIS