IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.
We begin this fourth and final edition of the year by looking at the deferral of the effective date of IFRS 15 ‘Revenue from Contracts with Customers’. We then move on to other items in the IASB’s pipeline, including further targeted changes to IFRS 15; IFRS-related news at Grant Thornton; and a general round-up of financial reporting developments.
In May 2014 the IASB published IFRS 15 ‘Revenue from Contracts with Customers’, the product of a major joint project between the IASB and the US Financial Accounting Standards Board. The Standard was to be effective for accounting periods beginning on or after 1 January 2017 however a number of implementation issues
were raised by constituents.
You can find out about the implementation dates of newer Standards that are not yet mandatory towards the end of the document, as well as a list of IASB publications that are out for comment.