2021 opens with a relatively stable IFRS framework in which to prepare the consolidated financial statements for this financial year, given the limited number and scope of the standards coming into force on 1 January.
As we move into the new year, the Beyond the GAAP editorial team would like to wish you all the best for 2021: here’s hoping that the health crisis will soon be over...
While 2020 has required a lot of work on the accounting impacts of the public health crisis, it should also be noted that most companies are now done with the upheaval resulting from the implementation of new standards (although IFRS 16 remains an enforcement priority at 31 December).
Since the beginning, our mission for Beyond the GAAP has been to keep you informed of accounting developments and to provide clarification and insight, in an environment where changes to accounting frameworks and regulators’ activities require constant vigilance from businesses and their auditors.
Now that the pace of accounting standardisation has slowed down a little, and pending the IASB’s feedback (expected by the end of the year) on the 200-odd comment letters received in response to the exposure draft on the presentation of financial statements, this month’s edition of Beyond the GAAP turns to news about the non-financial reporting in relation with environmental, social and...
Unsurprisingly, the financial statements at 30 June 2020 that have been published to date reflect the significant impact of the COVID-19 crisis on companies’ financial positions.
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