News and Publications

Additional educational module on the IFRS for SMEs on leases

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The IFRS Foundation has issued an additional new stand-alone educational module, which supports the learning, application, and reading of financial statements prepared with the IFRS for SMEs Standard.
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IPSASB issues amendments to keep IPSASs in line with IFRSs

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The International Public Sector Accounting Standards Board (IPSASB) has released 'Long-term Interests in Associates and Joint Ventures (Amendments to IPSAS 36) and Prepayment Features with Negative Compensation (Amendments to IPSAS 41)'.
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Exposure Draft 67, Collective and Individual Services and Emergency Relief (Amendments to IPSAS 19)

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Exposure Draft (ED) 67, Collective and Individual Services and Emergency Relief (Amendments to IPSAS 19), addresses transactions for collective and individual services and emergency relief. ED 67 forms part of the IPSASB’s broader non-exchange expenses project, proposing requirements for collective and individual services and emergency relief. The purpose of the IPSASB’s project on non-exchange expenses is to…
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Updated compendium of Ind AS Clarification Bulletins

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India is currently in its process of implementating the Indian Accounting Standards (Ind AS), which are largely converged with International Financial Reporting Standards (IFRSs). For addressing transition related queries, an Ind AS Transition Facilitation Group (ITFG) has been set up that issues clarification bulletins addressing implementation issues from time to time. For ease of reference,…
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IPSAS 42, Social Benefits

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IPSAS 42, Social Benefits, provides guidance on accounting for social benefits expenditure. It defines social benefits as cash transfers paid to specific individuals and/or households to mitigate the effect of social risk. Specific examples include state retirement benefits, disability benefits, income support and unemployment benefits. The new standard requires an entity to recognize an expense…
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IPSASB publishes final guidance on accounting for social benefits and exposure draft on collective and individual services and emergency relief

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The International Public Sector Accounting Standards Board (IPSASB) has released International Public Sector Accounting Standard (IPSAS) 42 'Social Benefits' and an related Exposure Draft (ED) 67 'Collective and Individual Services and Emergency Relief (Amendments to IPSAS 19)' to address a wide range of significant government expenditures.
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Amendments to IPSAS 36, Investments in Associates and Joint Ventures, and IPSAS 41, Financial Instruments

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Amendments to IPSAS 36 and IPSAS 41, 2018 comprises: Part I: Long-term Interests in Associates and Joint Ventures (Amendments to IPSAS 36); and Part II: Prepayment Features with Negative Compensation (Amendments to IPSAS 41). Amendments in Part I and II arise from consideration of the annual improvements and narrow scope amendments projects of the IASB.  
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Additional IFRS for SMEs educational modules on intangible assets other than goodwill and on business combinations and goodwill

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The IFRS Foundation has issued two new stand-alone educational modules, which support the learning, application, and reading of financial statements prepared with the IFRS for SMEs.
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IASB member discusses materiality

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IASB member Gary Kabureck has issued an article discussing the development of disclosure materiality.
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February 2019 IASB meeting agenda posted, further potential amendments to IFRS 17 to be discussed

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The IASB has posted the agenda for its next meeting, which will be held at its offices in London on 7-8 February 2019. There are five topics on the agenda, including again potential amendments to IFRS 17 'Insurance Contracts'.
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