News

28. June 2017

ASCG exposes draft implementation guidance on IFRS 2 (ED-IG 4)

Today the ASCG has issued the draft implementation guidance on IFRS 2 Share-based payments. The comment deadline is 11 August 2017 (bahrmann@drsc.de). After the IASB had issued the final amendments to IFRS 2 the ASCG performed outreach on the clarity of the new requirements on net settlement features in IFRS 2. Considering the insights from this consultation the IFRS Technical Committee noted, that these new requirements do not properly and prominently address compensatory cash payments from equity instruments withheld in excess. Therefore, the Committee had decided to assist reporting entities by providing implementation guidance. Read more

20. June 2017

IASB publish Draft of an Amendment to IAS 16

Today, the IASB has published the Exposure Draft ED/2017/4 Property, Plant and Equipment- Proceeds before Intende Use use which proposes an amendment to IAS 16 Property, Plant and Equipment. As proposed, net proceeds from selling any items produced while bringing a PPE asset into location and condition of its intended use are no longer deductible from cost of testing (making part of directly attributable cost) of the PPE item. Read more

20. June 2017

ASCG issues E-GAAS 8 ‘Proposed amendments to GAS 20 Group Management Report’

Today, the ASCG issued for public consultation draft German Amendment Accounting Standard No 8 (E-GAAS 8) specifying certain non-financial reporting requirements. A particular challenge arose from the fact that the transposition of the EU’s CSR Directive into German law was only completed in April, yet entities have to already apply it as of January. Hence, there was limited time available for amending GAS 20 should entities be provided with helpful guidance. With the proposed amendment to GAS 20 the ASCG aims at specifying the legal text by taking into account all available supporting material to the Implementation Act, without going beyond the legal requirements. Read more

20. June 2017

First Meeting of the ASCG’s preparer forum on the implementation of IFRS 16

On 19 June 2017, the ASCG's preparer forum on the implementation of IFRS 16 Leases met for the first time. During this one-day event, representatives from 30 ASCG member companies and organisations came together to discuss issues arising from the implementation of the new standard. Read more

7. June 2017

IASB finalises IFRS Interpretation 23

The IASB has finalised and today published the Interpretation IFRIC 23 regarding IAS 12. IFRIC 23 provides requirements that add to the requirements in IAS 12 by clarifying how to reflect the effects of uncertainty in accounting for income taxes. Read more

2. June 2017

Dr Brandt reappointed as IFRS Foundation Trustee

On 1 June 2017, the IFRS Foundation, under which the IASB operates, announced the reappointment of four of its Trustees for another three year term. Amongst the four individuals is Dr Werner Brandt, former CFO of SAP. The terms of all four Trustees start on 1 January 2018 and end 31 December 2020. Read more

29. May 2017

Technical committee meetings in June 2017 – meeting papers

The meeting papers of the meetings from 8 and 9 June 2017 are available for download. Read more

27. May 2017

IASB published Request for Information on IFRS 13

On 25 May 2017, the IASB has issued the Request for Information (RfI) regarding IFRS 13 Fair Value Measurement. The RfI is part of the Post-implementation Review (PiR) of IFRS 13 with the objective to assess whether the Standard achieves its objectives, how the requirements of the Standard affect investors, companies and auditors and whether there are areas in which the Standard is applied inconsistently. Read more