International update: May 2025

IASB discusses intangible assets and cash flow statements

The IASB has recently discussed the two major projects, on intangibles and cash flow statements, that it decided to undertake as a result of its last agenda consultation. Each of these has the possibility of being a long and complex project and both will need to be handled carefully. The initial stages are even more important than usual for defining the projects' objectives and scopes. The board has also been taking stock of its long-standing project on business combinations (that has already mutated from a project on goodwill and impairment) to proceed step-by-step in view of the mixed reception of its proposals. Furthermore, it has begun work on its post-implementation review of its leasing standard. This article provides a short overview of these developments.