The International Accounting Standards Board (IASB) has amended IFRS 1 First-time Adoption of International Financial Reporting Standards. The amendments relate to the treatment of government loans as defined in IAS 20 Accounting for Government Grants and Disclosure of Government Assistance when adopting IFRS.

BDO was evaluated as the best Tax Advisor for the year 2012 by The International Accounting Bulletin.

BDO Global Outsourcing wins international collaboration award at Managing Partners’ Forum European Awards. 

The European Securities and Markets Authority (ESMA) has, as a source of information to assist in the appropriate application of IFRSs, developed a confidential database of enforcement decisions taken by EU National Enforcers participating in European Enforcers Co-ordination Sessions (EECS). ESMA regularly publishes extracts from its database, with the intention of informing market participants about which accounting treatments EU National Enforcers (the Enforcers), may consider as complying with IFRSs and thus contribute to a consistent application of IFRSs in the European Union. In the attached files you will find published decisions in previous period.

These are illustrative IFRS financial statements of a listed company, prepared in accordance with International Financial Reporting Standards. These illustrative IFRS financial statements are intended to be used as a source of general technical reference, as they show suggested disclosures together with their sources. They are not intended to address the particular circumstances of any particular individual or entity.

BDO, Fairley & Associates and Greentarget have today announced that that their excellence in rebranding has been recognised at the Communicate Magazine Transform Awards 2011 in which the team won four awards, in the following categories:

• GOLD award for Best Brand Evolution
• GOLD award for Best Implementation of a Rebrand
• SILVER award for Best Internal Communication of a Rebrand
• SILVER award for Best Corporate Rebrand to Reflect Changed Mission/Values/Positioning

There is now a new separate product which BDO Audit s.r.o. has launched as part of the accounting methodology services which it offers – Analysis of a company´s accounting system and design for its optimization.

A similar activity is performed by the auditor during the audit of a client’s financial statements. In this situation the aim of the auditor is to obtain a thorough understanding of the client´s accounting system, however he does not investigate all the connected issues and above all the auditor does not offer the client such a detailed analysis of the system together with proposals for its optimization which the new BDO product provides.

A short description of the content and nature of this newly offered product is contained in the attached leaflet. Rudolf Heřmanský is the partner in BDO who will be responsible for providing this service.

BDO issued two new IFRS Bulletins regarding accounting for subsidiaries, joint arrangements and associates and financial instruments.

You will find all IFRS Bulletins available on www.bdointernational.com in section Publications.

BDO issued new IFRS Bulletin regarding offsetting financial assets and financial liabilities.

You will find all IFRS Bulletins available on www.bdointernational.com in section Publications.

BDO issued four new IFRS Bulletins.

We would like to draw your attention mainly to Bulletins No. 3/2011 and 4/2011 which includes:

IFRS(s), IFRIC(s) and Amendments Mandatory for the First Time for 31 December 2010 Year Ends as at 31 January 2011 (IFRB 2001/03)

IFRS(s), IFRIC(s) and Amendments Available for Early Adoption for 31 December 2010 Year Ends as at 31 January 2011 (IFRB 2001/04)

BDO issued three new IFRS Bulletins. The Bulletins describes Amendments to IFRS 1 and changes to Conceptual Framework and the measurement rquirements of deferred tax.

You will find all IFRS Bulletins available on www.bdointernational.com in section Publications.

This publication summarises recent tax developments of international interest from around the world. For each of the jurisdictions mentioned in these publications, remember there is a BDO person nearby to help you with your tax planning needs.