IFR Bulletin 2018/01

15 June 2018

BDO Global - Audit & Assurance provides its clients and business partners with news on development in the field of international financial reporting through the IFR Bulletins - one of BDO's regular publications, focusing on the latest IFRIC interpretations, exposure drafts and amendments of existing standards. Another interesting topic of IFR Bulletins is the interpretations of The European Securities and Markets Authority (ESMA) reports focusing on accounting and financial reporting.

A recent IFR Bulletin (2018/01) summarises issues that the IFRS Interpretations Committee (the Interpretations Committee) decided not to take onto its agenda at its January and March 2018 meetings, which were reported in its public newsletter (the IFRIC Update). Although these agenda decisions do not represent authoritative guidance issued by the International Accounting Standards Board (IASB), in practice they are regarded as being highly persuasive.

Most of the Committee’s finalised agenda and published tentative decisions are focused on new standards IFRS 15 Revenues from Contracts with Customers and IFRS 9 Financial Instruments. Other topics include: Statement of Cash Flows – Classification of short-term loans and credit facilities and Investments in Associates and Joint ventures – Contributing property, plant and equipment to an associate.

Please speak to your BDO contact if you would like to discuss any aspects of the publication or contact the BDO Audit office for further information.

Archive of all published IFR Bulletins is available from BDO’s Global website: https://www.bdo.global/en-gb/services/audit-assurance/ifrs/ifr-bulletins