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26 September 2016

IFRS 9 myth busters

This week's blogger is Sandra Thompson, Global IFRS Leader for Financial instruments. Contact her on LinkedIn IFRS 9 the new financial instruments standard is well recognised as being a big change in accounting by banks, in some cases the biggest such change in living memory. It is also well recognised...

21 July 2016

Counterpoint: Should OCI be a recycle-bin or an elephant’s graveyard?

There are a few questions that substantially divide the accounting practice. Following our first three blogs of this series (see here for recognition and measurement of goodwill and here for balance sheet symmetry and here for tax accounting) we today try to tackle the question of OCI: Should it be...

04 July 2016

Impact of EU Referendum result on financial reports

This weeks blogger is Jessica Taurae, Partner in UK Accounting Consulting Services. Contact her on LinkedIn Now that the UK has voted to leave the EU, there will be a protracted period of negotiation, and many months of uncertainty as the detailed political and legal issues are worked out and...

18 May 2016

Counterpoint: How to account for tax

There are a few questions that substantially divide the accounting practice. Following our first two blogs of this series (see here for recognition and measurement of goodwill and here for balance sheet symmetry) we today try to tackle the question of tax: Whilst the IC is working on finalising its...

25 April 2016

Counterpoint: Symmetry of balance sheet recognition and measurement criteria

There are some questions that substantially divide the accounting practice. Following our first blog of this series (see link here) we try to tackle today the question of balance sheet symmetry: Should assets and liabilities follow the same recognition and measurement criteria? Isn’t being prudent (sharp tongues might say “permitted...

07 April 2016

Counterpoint: Recognition and subsequent measurement of goodwill

There are questions that divide any room full of accountants. Threshold questions like the meaning of prudence, balance of recognition criteria for assets and liabilities, recycling from OCI (is it a parking lot or an elephant’s graveyard?), debt versus equity, etc. The accountants in the room might not be able...

23 March 2016

What trends in pensions accounting have recently come to light?

This week’s guest blogger is Brian Peters, partner and lead of PwC's pension accounting business. Connect to him on LinkedIn Following the 31 December 2015 year-end financial reporting process, it is time to reflect on some of the interesting trends and issues in pensions accounting that came to light, and...

10 February 2016

Online gaming, revenue recognition and IFRS 15 - #Epicfail?

This week’s guest blogger is Gary Berchowitz from Global Accounting Consulting Services in South Africa. Connect to him on LinkedIn. Are you passionate about IFRS 15? Don’t be shy, we’re all accountants here or you are reading the wrong blog. Are you interested in online gaming? Answered yes to either...

25 January 2016

Will you be the new leases standard’s valentine?

This week’s guest blogger is Derek Carmichael from Global Accounting Consulting Services in London. Connect to him on LinkedIn. IFRS 16 is finally here, just in time for Valentine’s Day season. Like the course of true love, the path to the final standard has not been easy and has shared...

18 January 2016

Are we there yet? The road to IFRS

This week’s guest blogger is Saad Siddique, Accounting Consulting Services UK. Connect to him on LinkedIn. A recent talk at PwC from Christopher Nobes, Professor of Accounting at Royal Holloway (University of London), on his research on the adoption of IFRS worldwide brought a range of answers to my titular...