IASB proposals to improve reporting on acquisitions: a step in the right direction, but concerns still remain

This In brief provides a summary of the proposed amendments to IFRS 3 and IAS 36 and PwC's views on the Business Combinations - Disclosure, Goodwill and Impairment project.

June 2024 year end accounting reminders - IFRS

This document includes topical issues, plus the accounting standards that are newly applicable for 30 June year ends. It also includes a summary of items that are effective in the future, but as per paragraph 30 of IAS 8 might need disclosure of the possible impact in June 2024 reporting.

The IASB proposes accounting changes for renewable electricity contracts

The IASB has published an exposure draft, proposing narrow-scope amendments to IFRS 7 and IFRS 9 to help entities better reflect, in their financial statements, the effect of entering into contracts for renewable electricity. Our In brief gives you an overview of the proposals.

Hyper-inflationary economies as at June 2024

Hyper-inflationary economies as at June 2024 The IMF WEO report released in April 2024 provides updated data in respect of current and projected levels of inflation. Significant changes: Egypt, Lao P.D.R. and Malawi are expected to become hyper-inflationary by the end of 2024, South Sudan remains hyper-inflationary in 2024, and Yemen is no longer hyper-inflationary from 30 June 2024.

IFRS 18 - Insights for financial services companies

The IASB has issued IFRS 18, the new standard on presentation and disclosure in financial statements, with a focus on the statement of profit or loss. This In brief highlights some key elements most relevant to the financial services industry.

IFRS 18 - Key treasury topics for corporate entities

The IASB has issued IFRS 18, the new standard on presentation and disclosure in financial statements, with a focus on the statement of profit or loss. For a general overview of the new standard, see In brief IFRS 18 is here: redefining financial performance reporting. This In brief highlights some key treasury topics for corporate entities, such as classification of foreign exchange differences, derivatives gains and losses and income and expenses on other financial instruments.

EFRAG and ISSB jointly publish interoperability guidance

On 2 May 2024, the IFRS Foundation and EFRAG jointly published interoperability guidance on climate-related disclosures for sustainability reporting. This interoperability guidance illustrates the high level of alignment achieved between the IFRS sustainability disclosure standards and European sustainability reporting standards (ESRS).