Latest articles

04 April 2014

When is an asset not really an asset?

By John Hitchins …When it is called goodwill, of course! This little quip tends to elicit a reaction only from the most technical accountants. For everyone else, goodwill is now accepted widely as an asset. The debate in the past... Read more

21 March 2014

Leases – Another nail in the coffin of convergence?

By John Hitchins One would be forgiven for thinking that the IASB / FASB redeliberations of the leasing project in March were aimed to achieve a converged solution. The two Boards sat in the same room, but came to very... Read more

07 March 2014

Presenting financial performance – is change on the horizon?

This week, to talk about presenting financial performance, I'd like to introduce guest blogger Peter Hogarth, who is our UK Accounting Consulting Services leader. By Peter Hogarth Regulators and standard-setters have long grappled with the question of how entities should... Read more

21 February 2014

IAS 32: Accounting for the new activity in the market place

By John Hitchins Have you been following the 'non-viability' saga? If you answered no, don't worry; we are still in the early chapters and the story continues to unfold. And although 'non-viability' instruments are currently trending in the financial services... Read more

07 February 2014

IFRIC 21 ‘Levies’ – Bigger than it sounds?

By John Hitchins There has been a recent ground swell of discussion about IFRIC 21 and the effective date of 1 January 2014 seems to be catching a few people off guard. But why? Well, for starters, the title ‘Levies’... Read more

24 January 2014

Hedge accounting – hedging risk components

By John Hitchins Nobody would argue against the assertion that the new hedge accounting requirements in IFRS 9 are more principles-based than the existing IAS 39 guidance. This is a welcome improvement and is more consistent with IFRS’s overall principles-based... Read more

10 January 2014

Which discount rate?

By John Hitchins As another reporting season approaches, discount rates inevitably will be a subject for discussion. It continues to be a hot topic with the standard setter. The IFRS Interpretation Committee ("IC") has discussed the IAS 19 discount rate... Read more

04 December 2013

Can accounting cope with the accelerating life cycle of business?

By John Hitchins The impact of the increasing pace of change in mobile communication technology has been graphically illustrated this year in the travails of Blackberry and Nokia’s decisions to exit the mobile handset business. Rapid loss of business value... Read more

29 November 2013

Convergence limps on…

By John Hitchins In 2002 the IASB and FASB signed up to the goal of accounting convergence as part of the Norwalk Agreement. Initially we saw commitment from both sides as they went full steam ahead to align existing standards... Read more

22 November 2013

Expected credit losses model – a recipe for more confusion?

By John Hitchins One thing that everyone seems to agree on following the Financial Crisis is that the incurred loss impairment model is past its sell by date and needs to be replaced by an expected loss model. Unfortunately this... Read more

Latest tweets