Insights

IFRS 3 Identifying a business combination within the scope of IFRS 3

Mergers and acquisitions are becoming more and more common as entities aim to achieve their growth objectives. IFRS 3 ‘Business Combinations’ contains the

IFRS IFRS Foundation announces next steps on sustainability

The Foundation has acknowledged the need for global sustainability reporting standards and the role it could play in their development. The International

IFRS 3 Identifying the acquirer

Business combinations are infrequent transactions that are unique for each occurrence. IFRS 3 ‘Business Combinations’ contains the requirements and despite

IFRS 3 Identifying the acquisition date

Acquisitions of businesses can take many forms and can have a fundamental impact of the acquirer’s operations, resources and strategies. These acquisitions are

IFRS Telling the COVID-19 story

Annual financial statements will always be a critical communication to investors and other stakeholders (‘users’). But how effective will they be in explaining

IFRS Exposure Draft Regulatory Assets and Regulatory Liabilities

The International Accounting Standards Board (IASB) has now published an Exposure Draft ‘ Regulatory Assets and Regulatory Liabilities ’ (the ED). The ED

IFRS Insights into IFRS 3

Mergers and acquisitions (business combinations) can have a fundamental impact on the acquirer’s operations, resources and strategies. For most entities such

IFRS Brexit Accounting for the impact on current and deferred tax

For entities with operations in the United Kingdom (UK) and the EU, the determination of the income tax impact on Brexit will require some significant

IFRS COVID-19: Hedge accounting insights

There are several accounting considerations the COVID-19 pandemic has triggered in relation to IFRS 9. In our view one of the most significant is in relation

IFRS Navigating the changes to International Financial Reporting Standards

This publication is designed to give preparers of IFRS financial statements a high-level awareness of recent changes to International Financial Reporting

IFRS COVID-19: Accounting implications for CFOs

The COVID-19 global pandemic has resulted in economic consequences that many reporting entities may not have had to previously consider. One of those

IFRS IFRS: Example Consolidated Financial Statements 2020

The preparation of financial statements in accordance with International Financial Reporting Standards (‘IFRS’) is challenging. Each year, new Standards and

IFRS IFRS Alert 2020-10 Hyperinflationary economies

IAS 29 ‘Financial Reporting in Hyperinflationary Economies’ requires the financial statements of any entity whose functional currency is the currency of a

IFRS Insights into IFRS 16: Lease incentives

Granting lease incentives is a common way to encourage a new lessee to sign up to a new lease contract and fill vacant premises. When accounting for lease

Slides COVID-19: Financial Reporting – Disclosures for significant judgements

The novel coronavirus (COVID-19) pandemic has spread around the globe. The virus has taken its toll on not just human life, but businesses and financial

IFRS Alerts Amendments to IFRS 17 and IFRS 4

The International Accounting Standards Board (IASB) has issued ‘Amendments to IFRS 17 ‘Insurance Contracts’’ (the Amendments). The aim of the amendments is to

IFRS Alert The IASB defers the effective date of the IAS 1 Amendments

The International Accounting Standards Board (IASB) has issued an amendment to defer the effective date of the ‘Classification of Liabilities as Current or Non

IFRS COVID-19: Considerations when preparing financial statements

Preparers of financial statements are now having to think about how, where and what form they should report COVID-19 in their financial statements. We

IFRS COVID-19 accounting considerations for CFOs: Government grants

As a response to the COVID-19 global pandemic, governments around the world are implementing measures to help businesses and economies get through it. The

COVID-19 COVID-19 accounting for lease modifications

The COVID-19 pandemic is requiring those responsible for the preparation of financial statements to reconsider whether assumptions and assessments previously

COVID-19 IASB amends IFRS 16 to provide relief during COVID-19

The IASB has published an amendment ‘COVID-19 -Related Rent Concessions (amendment to IFRS 16)’ (the amendment). The amendment adds a practical expedient to

IFRS IASB issues four narrow scope amendments to IFRS Standards

The International Accounting Standards Board (IASB) has issued a collection of narrow scope amendments to IFRS Standards. The collection includes amendments to

IFRS COVID-19 accounting considerations for CFOs

The business and operations of many entities have already been seriously affected by the rapid global spread of COVID-19 and related government actions.

COVID-19 Understanding the impact of COVID-19 on your 2020 deferred tax provision

The COVID-19 pandemic is having a tremendous impact on the world’s economy. Many businesses are struggling to stay afloat and doing whatever they can right now

IFRS IASB proposes relief for rent concessions during the COVID-19 pandemic

Last Friday the International Accounting Standards Board (IASB) published an Exposure Draft ‘COVID-19-Related Rent Concessions - Proposed amendment to IFRS 16’

COVID-19 Reporting the impact of COVID-19 on your business

As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial

COVID-19 COVID-19: Financial Reporting and Disclosures

The novel coronavirus (COVID-19) pandemic is spreading around the globe rapidly. The virus has taken its toll on not just human life, but businesses and

Financial Accounting and Advisory Services (FAAS) Financial reporting for investment funds

At Grant Thornton, our FAAS department has a dedicated fund reporting team to assist and support all aspects of the annual reporting process and help you deal

IFRS Navigating the changes to IFRS 2020

Navigating the changes to International Financial Reporting Standards.

IFRS Alert IASB Issues Classification of Liabilities as Current or Non-Current

The IASB have therefore issued these amendments to IAS 1 to clarify this guidance and rectify the above issue.

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