Internally generated GDPR module: to capitalize or not to capitalize?

Did you know that IAS 38 Intangible Assets is almost half a century old? In fact, the first exposure draft dates all the way back to 1977. So, if you think that the first portable computer was only produced in 1981, you can get an idea of just how old it is and how different technology was at that time. In the Digital Era where intangible assets are a company […]

US GAAP: an acceptable accounting principle in Luxembourg?

As more and more US-based asset managers choose Luxembourg for their next alternative investment funds (AIFs), the question they invariably ask is whether they can keep the accounting principles they are using for their current structures: United States Generally Accepted Accounting Principles (US GAAP). Many of these asset managers also run parallel funds al […]

Proposed amendments to sale-and-leaseback. How ready are you?

In mid-2020, the IFRS Interpretations Committee (IFRS IC) received a question on how to measure a lease liability and right-of-use (ROU) asset on a sale-and-leaseback transaction with fully variable payments. You might be wondering what sparked this question in the first place. Well, IFRS 16 prohibits the inclusion of variable lease payments (except for those […]

Fair valuation of investment property in uncertain times

It’s no secret that measuring a fair value of investment property has always been a challenging task...and, needless to say, the current pandemic has not made it any easier. The valuation of investment property following the principles of IFRS 13 is usually dependent on several assumptions and unobservable inputs. The current market situation may very likel […]

CSSF Circular 20/750 implements EBA Guidelines on ICT and security risk management in Luxembourg

On 25 August 2020, the CSSF published Circular 20/750 implementing the EBA Guidelines on ICT and security risk management in Luxembourg. These guidelines establish a consistent approach to the mitigation and management of these risks in all EU countries. Are you ready for the Circular? Download our self-assessment to assess your preparedness and define a resp […]

How Covid-19 impacts interim financial statements?

Our Covid-19 financial reporting resource centre provides guidance on a broad range of financial reporting topics impacted by the Covid-19 outbreak. It covers both annual and interim financial statements. What’s the issue? For calendar year end companies, the 2020 interim reporting period will be the first reporting period when the impacts of the Covid-19 co […]