IFRS 9

Debt restructuring under IFRS 9: changes you may have missed

IFRS 9 has now been applicable for over a year, but some of its changes have often been either overseen or neglected—even when they could have a material impact on the accounts. One of these is the treatment of non-substantial modifications of financial assets or financial liabilities when amending contractual terms within a restructuring transaction. There is […]

The less obvious sides of ESMA’s enforcement priorities

Seeing as the dust hasn’t quite settled around IFRS 9, 15 and 16, it can be easy to focus all your attention on compliance with these standards and to sweep everything else under the rug for now. Good news: to a limited extent, you can! ESMA has indeed announced that their main enforcement priorities will involve the three standards mentioned above. However […]

What IFRS disclosure priorities to expect from the CSSF

In October, the European Securities and Markets Authority (ESMA) released its 2018 enforcement priorities for listed entities. They mainly focus on IFRS 9 and IFRS 15, which are effective from 1 January 2018, as well as on IFRS 16, which goes live in about a month, on 1 January 2019. Why are these priorities important in Luxembourg? Well, anyone who looks int […]

The debate continues over IFRS 9 (accounting for equity investments)

Will IFRS 9 end up discouraging investors? I asked that question in another article a few months ago in a discussion of the new requirements, which relate to the accounting treatment of equity investments under IFRS 9. In August 2018, the European Financial Reporting Advisory Group (EFRAG) published a summary of the 53 letters that constituents wrote in response […]

We wanted IFRS insights—so we went straight to the source

Reserved, technical, conservative... is generally what comes to mind when picturing the writer of an accounting standard. That was the image our IFRS team took to Frankfurt, to the annual IFRS conference hosted by the International Accounting Standards Board (IASB). Our plan was to corner one IASB board member in particular for insights—Mary Tokar, who literal […]

Where do you record digital currency on your balance sheet?

Not too long ago, the hype around digital currencies exploded, with bitcoin being the flagship cryptocurrency in popular conversation. Everyone raved about the new payment instrument which would swiftly conquer the financial world. Even if all that has cooled off somewhat now, digital currencies have not gone anywhere—indeed, they are spreading, with 100,000+ […]