Beyond the GAAP no.61 - November 2012

Once again, year-end reporting has come around! Unfortunately, you might be tempted to say. As in 2011, it’s not the new accounting texts which will make this a tricky exercise; it’s the background of crisis. Yet again, much is expected of issuers in terms of the quality and clarity of their disclosures, in particular regarding the impairment of financial and non-financial assets, the discount rate of future pension liabilities, and provisions for risks and expenses. This is what emerges from ESMA’s recommendations.

As for the IASB, apart from the new calls for comments, what primarily stands out is Hans Hoogervorst’s forthright speech on the Leases project. Will it be enough to silence the critics?



  • The IASB updated its work plan
  • Publication of the 2011-2013 Cycle of Annual improvements
  • Publication of investment Entity amendments
  • Leases project: IASB Chairman goes on the offensive
  • Limited draft amendments to IAS 16 and IAS 38 on methods of depreciation or amortisation
  • Reopening IFRS 9 phase 1, Classification and measurement: exposure draft published
  • Impairment of financial assets (Phase II of IRFS 9/ Impairment) – final deliberations

A Closer Look:

  • Standards and interpretations applicable to 31 December 2012
  • What are the ESMA recommendations for the 2012 reporting period?
  • Proposed amendments to IAS 28: Share of Other Net Asset Changes
  • On-going joint redeliberations on Revenue Recognition


Beyond the GAAP n°61 - November 2012
Beyond the GAAP n°61 - November 2012