The #IASB has today published proposals in an Exposure Draft to address accounting issues that affect companies that translate financial information from a non-hyperinflationary currency to a hyperinflationary currency. These proposals, which are narrow-scope amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates, introduce translation requirements for these companies. The IASB expects the proposed translation requirements to improve information for users of financial statements while being simple and cost-effective for companies to apply. Read more: https://lnkd.in/gfQD_WwW #IASBExposureDraft #FinancialReporting #IFRSAccounting #PublicConsultation
International Accounting Standards Board (IASB)
Accounting
London, England 180,112 followers
The International Accounting Standards Board (IASB) is the independent standard-setting body of the IFRS Foundation.
About us
This is the official LinkedIn page for the International Accounting Standards Board—also known as the IASB. We will provide updates on projects such as meeting summaries, new documents, webinars and conferences, as well as announcements about IFRS Standards. The mission of the IASB is to develop, in the public interest, a single set of high quality, understandable and international financial reporting standards (IFRS Accounting Standards) for general purpose financial statements. Together with the International Sustainability Standards Board (ISSB), the IASB is one of the two independent standard-setting bodies of the IFRS Foundation.
- Website
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http://www.ifrs.org
External link for International Accounting Standards Board (IASB)
- Industry
- Accounting
- Company size
- 51-200 employees
- Headquarters
- London, England
- Type
- Nonprofit
- Founded
- 2001
- Specialties
- International Financial Reporting Standards, Accounting, and Financial Reporting
Locations
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Primary
7 Westferry Circus
London, England, GB
Employees at International Accounting Standards Board (IASB)
Updates
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The #IASB has published a webcast on implementing IFRS 19 Subsidiaries without Public Accountability: Disclosures. This webcast offers viewers an overview of this new Accounting Standard and its benefits for eligible subsidiaries as well as practical insights into its implementation. The discussion is led by Michelle Sansom, Technical Director at the IASB, and it features perspectives from both Global Preparers Forum (GPF) and IASB members: • Ian Bishop, GPF Chair and Head of Accounting, Consolidation and External Reporting • Amrita Srikanth, Vice President, Technical Accounting • Ernesto Escarabajal Baadenhuijsen, Global IFRS Accounting Policy Advisor • Jianqiao Lu, IASB Member • Bertrand Perrin, IASB Member This new Accounting Standard will simplify reporting systems and processes for companies, reducing the costs of preparing eligible subsidiaries’ financial statements while maintaining the usefulness of those financial statements for their users. #IFRSAccounting #subsidiaries #IFRS19 https://lnkd.in/djv2TtAg
Implementing IFRS 19—Insights from Global Preparers
https://www.youtube.com/
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The #IASB has today issued narrow amendments to IFRS Accounting Standards and accompanying guidance as part of its regular maintenance of the Standards. These amendments include clarifications, simplifications, corrections and changes aimed at improving the consistency of several IFRS Accounting Standards. 📖Read more: https://lnkd.in/ecD-gJET #IFRSAccounting #AccountingStandards #Accounting
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In the June #IASBmeeting, one of the projects discussed was the #Provisions project. The objective of this project is to make targeted improvements to IASB 37 provisions, Contingent Liabilities and Contingent Assets. ✅ In the June meeting, the last round of technical deliberations was completed. 🔜 A public consultation on this project is expected to begin later this year. 🎙️ In the June #IASBpodcast, IASB Chair Andreas Barckow explained what stakeholders have told us about this project. 🎧 You can find all our podcasts on your preferred app. #Accounting #IFRSAccounting #IASB
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🎥 Watch #IASB Member Tadeu Cendón Ferreira highlight two projects that the IASB will be discussing at its July meeting: 📊 Rate-regulated Activities 📊 Second Comprehensive Review of the IFRS for SMEs Accounting Standard IASB meeting: 22 – 24 July 2024 Read the meeting papers and watch the meeting online: https://lnkd.in/eXEHKbCy #IFRSAccounting #IASBMeeting #IFRS
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The meeting report for the 28-29 May 2024 Emerging Economies Group meeting is now available: https://lnkd.in/g7bbwux5 #IFRS #IFRSaccounting #IASB
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The #IASB has proposed narrow-scope amendments to ensure that financial statements more faithfully reflect the effects that renewable electricity contracts have on a company. ⏳ With contract durations typically spanning between 20 and 30 years, #investors highlighted the need for information to understand the effects of these contracts on a company’s performance and cash flows, not only in the current period but also in future periods under the contract. 📝 We are inviting your feedback on these amendments until 7 August 2024. https://lnkd.in/dbyR_bpY 🎥 Watch the full webcast: https://lnkd.in/emJRa667 #RenewableElectricity #PPAs #PowerPurchaseAgreements #IASBExposureDraft
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#IASB Chair Andreas Barckow recently joined Voon Hoe Chen, Chair of the Institute of Singapore Chartered Accountants (ISCA) Financial Reporting Committee, in a conversation about how financial reporting addresses challenges in the business environment. Their discussion also covered: 🔗 connectivity between the IASB and the International Sustainability Standards Board (ISSB) 🎯 IASB’s priorities and work plan 💡the role of AI in standard-setting Listen to the full conversation here: https://lnkd.in/eKceMPR4 #Accounting #IFRSAccounting #financialreporting #Singapore
CA Listen – Financial Reporting: Past, Present & Future
https://www.youtube.com/
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International Accounting Standards Board (IASB) reposted this
Last week in Tokyo, together with colleagues Rika Suzuki and Roanne Hasegawa, I had the opportunity to meet with companies, investors and auditors to discuss the work of the International Accounting Standards Board (IASB) and specifically, our new standard - #IFRS18 Presentation and Disclosure in Financial Statements. Special thanks to the Japanese Institute of Certified Public Accountants (#JICPA), together with the Financial Accounting Standards Foundation (#FASF) and the Accounting Standards Board of Japan (#ASBJ), for facilitating our interaction with stakeholders in Japan and, of course, to those we met for their interest and engagement with our work.
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In June, the #IASB and the Financial Accounting Standards Board held a joint education session. The two boards discussed their post-implementation reviews of the revenue standards and the leases standards. 🎙️ IASB Member Ann Tarca explains more in this clip from the June IASB podcast. You can watch this on-demand education session here: https://lnkd.in/ecdjPt3J 🎧 You can find all our podcasts on your preferred podcast platform. #AccountingStandard #revenue #leases #FASB