Accounting Alerts

06 Jul 2016

On June 23, 2016, the United Kingdom (UK) voted to leave the European Union (EU). This Accounting Alert addresses some of the possible financial reporting implications of that decision. The issues discussed are potentially relevant to all entities, although they are likely to be particularly significant for entities operating in the UK and the rest of Europe. On June 23, 2016, the United Kingdom (UK) voted to leave the European Union (EU). This Accounting Alert addresses some of the possible financial reporting implications of that decision. The issues discussed are potentially relevant to all entities, although they are likely to be particularly significant for entities operating in the UK and the rest of Europe.

22 Jun 2016

The IASB has published ‘Classification and Measurement of Share-based Payment Transactions (Amendments to IFRS 2)'. We describe the three changes made by the Amendments in more detail

20 Jun 2016

The Global Public Policy Committee (GPPC), a global forum of representatives of the six largest international accounting networks, released The Implementation of IFRS 9 Impairment Requirement by Banks (the paper). The paper is addressed to the audit committees of systemically important financial institutions and represents the consensus views of the GPPC members regarding key matters for the implementation of the impairment requirements of IFRS 9.

02 May 2016

This Accounting Alert is issued to provide quarterly update on all things relating to International Financial Reporting Standards (IFRS). We begin this second edition of the year by looking at amendments made by the International Accounting Standards Board (IASB), including changes that have been made to IFRS 15, Revenue from Contracts with Customers. We also remind you of a couple of major pronouncements that some companies will be applying for the first time. We then go on to discuss two major Grant Thornton publications that have been issued in the last quarter. The first is designed to get you up to speed with the new expected credit loss model for financial instruments. The second one looks at how to make your financial statements an effective communication tool.

26 Apr 2016

This Accounting Alert is issued to provide information about the recently released Memorandum Circular No. 3, Series of 2016, issued by the Securities and Exchange Commission (SEC) on the enforcement of Republic Act (RA) No. 9510, Credit Information System Act, over financing companies.