IFRS News Clips
January 2012 IFRS for SMEs Update
The January 2012 IFRS for SMEs Update has been published. (IFRS.org)
Summary of the January 2012 Trustees' meeting, Singapore
The Trustees of the IFRS Foundation, the body responsible for the governance and oversight of the International Accounting Standards Board (IASB), have announced the conclusions of their meeting in Singapore on 12 January 2012. (IFRS.org)
IFRS Interpretations Committee January 2012
The IFRS Interpretations Committee met at the IASB office in London UK on the 17 and 18 January 2012. The meeting summaries and audio files from this meeting are available from the project pages. (IFRS.org)
Podcast summary of January 2012 IFRS Interpretations Committee meeting available
A podcast was recorded shortly after the January 2012 IFRS Interpretations Committee meeting to provide a short summary of the main topics and projects discussed. (IFRS.org)
Status report on IFRS for SMEs
On Friday, 20 January 2012, the SME Working Group of the European Financial Reporting Advisory Group (EFRAG) met with IASB Board member Paul Pacter in Brussels to discuss various matters relating to the IFRS for SMEs. (IFRS.org)
Trustees reappoint three members of the IASB
The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), announced today the reappointment of three existing members of the IASB. (IFRS.org)
Scott Evans reappointed as IFRS Foundation Trustee
The Monitoring Board of the IFRS Foundation has approved the reappointment of Scott Evans, to serve a second three-year term as a Trustee. His term will now expire on 31 December 2014. (IFRS.org)
IFRS 13 and Fair Value Accounting
Francisco Roque A. Lumbres, CFA, PRM, Partner of SGV & Co., discusses the main principles and clarifies some of the related definitions and concepts of this standard, which is scheduled for mandatory implementation in less than a year. (BusinessWorld)
Exposure Draft of the IFRS Taxonomy 2012
On 17 January, the IFRS Foundation published for public comment an exposure draft of the IFRS Taxonomy 2012. The proposed Taxonomy is consistent with IFRSs, including IASs and the IFRS for SMEs. The IFRS Taxonomy 2012 is a translation of IFRSs as issued at 1 January 2012 into XBRL (eXtensible Business Reporting Language). (IFRS.org)
IFRS Foundation Trustees Meeting January 2012
The IFRS Foundation Trustees Meeting is being held on 12 January 2012 at the Regent Hotel in Singapore. All observer notes for this meeting, including those for the DPOC are now available, visit the meeting page. (IFRS.org)
IFRS Interpretations Committee January 2012
The IFRS Interpretations Committee is meeting at the IASB office in London UK on the 17 and 18 January 2012. (IFRS.org)
A New System for Recognizing Revenue
FASB and the International Accounting Standards Board (IASB) in November released a revised proposal that would create a single revenue recognition standard for both U.S. GAAP and IFRS. The standard is designed to streamline accounting for revenue across industries and correct inconsistencies in existing standards and practices. (Journal of Accountancy)
