NEW international rules that will bring leases onto company balance sheets will be published by the IASB next week.
The long-awaited standard, which has been the subject of much wrangling between international and US standard setters, will bring lease assets and liabilities onto company balance sheets.
The project has been hampered by conceptual differences between the IASB and US counterpart FASB over how leases should be calculated and accounted for as the two bodies attempted to issue a largely converged standard.
Politicians in the EU had also raised concerns that the standard was too geared towards the US, and payed little heed to the views of European standard setters.
A group of investors have made fresh calls for the UK’s largest listed companies to disregard the accounting advice of reporting watchdog the FRC
Thack Brown, global head line of business finance, SAP, outlines best practice in preparing for IFRS 15
FRC highlights the things directors should consider when preparing their forthcoming half-yearly and annual financial reports
Subsidiaries will be exempt from certain rules on how businesses record revenue on their books under proposed changes to FRS 101