Welcome to IFRS Newsletter – a newsletter that offers a summary of certain developments in International Financial Reporting Standards (IFRS) along with insights into topical issues.
We begin this first edition of 2018 by considering the potential effect of the recent U.S. tax reforms on IFRS preparers with operations in the United States. We also remind readers of the key aspects of the two major new standards that have come into effect on January 1, 2018 (IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers) and take a look at issues that are currently attracting regulators’ attention.
We then move on to look at amendments the International Accounting Standards Board (IASB) has recently made to its standards. Further on in the newsletter, we present IFRS-related news at Grant Thornton and a general round-up of financial reporting developments.
We finish with a summary of the implementation dates of recently issued standards, and a list of IASB publications that are out for comment.