World Accounting Report

The FASB has issued four proposed Accounting Standards Updates (ASU) for consultation. One covers the classification of balance sheet liabilities as current or non-current, another covers interest-rate benchmark reforms, and the third and fourth..

EFRAG

As is the case under IFRS, US GAAP currently requires that goodwill arising on business acquisitions is annually tested for impairment, rather than amortised. There are, however, differences in the detail, and the FASB has relaxed the rules for..

The goodwill and impairment project has been causing the IASB some difficulties. The key issue is the extent to which impairment testing of goodwill is effective, as it appears that write-downs are either reported too late or not at all. The main..

The local garden centre has replaced its summer offering of deckchairs and barbecues for a dazzling array of seasonal trees, baubles and fairy lights. With this thought in mind, it is not perhaps entirely inappropriate that this month’s WAR..

IASB meeting