There are a few questions that substantially divide the accounting practice. Following our first three blogs of this series (see here for recognition and measurement of goodwill and here for balance sheet symmetry and here for tax accounting) we today try to tackle the question of OCI: Should it be... Continue reading

There are a few questions that substantially divide the accounting practice. Following our first two blogs of this series (see here for recognition and measurement of goodwill and here for balance sheet symmetry) we today try to tackle the question of tax: Whilst the IC is working on finalising its... Continue reading

There are some questions that substantially divide the accounting practice. Following our first blog of this series (see link here) we try to tackle today the question of balance sheet symmetry: Should assets and liabilities follow the same recognition and measurement criteria? Isn’t being prudent (sharp tongues might say “permitted... Continue reading

There are questions that divide any room full of accountants. Threshold questions like the meaning of prudence, balance of recognition criteria for assets and liabilities, recycling from OCI (is it a parking lot or an elephant’s graveyard?), debt versus equity, etc. The accountants in the room might not be able... Continue reading

This week’s guest blogger is Brian Peters, partner and lead of PwC's pension accounting business. Connect to him on LinkedIn Following the 31 December 2015 year-end financial reporting process, it is time to reflect on some of the interesting trends and issues in pensions accounting that came to light, and... Continue reading

This week’s guest blogger is Gary Berchowitz from Global Accounting Consulting Services in South Africa. Connect to him on LinkedIn. Are you passionate about IFRS 15? Don’t be shy, we’re all accountants here or you are reading the wrong blog. Are you interested in online gaming? Answered yes to either... Continue reading

This week’s guest blogger is Derek Carmichael from Global Accounting Consulting Services in London. Connect to him on LinkedIn. IFRS 16 is finally here, just in time for Valentine’s Day season. Like the course of true love, the path to the final standard has not been easy and has shared... Continue reading

This week’s guest blogger is Saad Siddique, Accounting Consulting Services UK. Connect to him on LinkedIn. A recent talk at PwC from Christopher Nobes, Professor of Accounting at Royal Holloway (University of London), on his research on the adoption of IFRS worldwide brought a range of answers to my titular... Continue reading

Alexander Woodford gives us some entertainment over the holiday season with his take on the latest accounting challenges faced by Father Christmas. The Chief Financial Reporting Elf was relaxing in his grotto this Christmas Eve morning having just sent out a memo regarding Santa’s exciting new project in the manufacturing... Continue reading

This week’s guest blogger is Katja van der Kuij, CMAAS and ACS director in the Netherlands. Connect to her on LinkedIn. My world is full of freebies nowadays: I can get a free smartphone from my telecom provider in combination with a 2-year data plan, a free tablet with a... Continue reading

Musings on mankind’s clinging to ‘names’ even when the names are incorrect by Lihor Spazzoli, PwC ACS Partner, South Africa. Connect with him on LinkedIn. All views are those of the author. I grew up in Florence, Italy, the most beautiful city in the world. Any story can be told... Continue reading

This week’s guest blogger is Brian Peters, partner and lead of PwC's pension accounting business. Connect to him on LinkedIn The IASB is planning to amend IFRIC 14 and the outcome might not be what companies expect. The new accounting rules will require companies to have a balance sheet liability... Continue reading

By our guest blogger, Chris Biggs, Director CMAS Accounting Advisory, PwC. Connect with him on LinkedIn. I started noticing sufferers of ‘leasing fatigue’ a couple of years back after the second IASB exposure draft. The (by then) fifteen years of debate were showing no signs of reaching an end –... Continue reading

Guest blogger: Dave Walters, follow him on twitter I’ve just had a few days off work, walking the North Downs Way with a friend of mine. The North Downs Way is a mostly very picturesque “National Trail” that stretches 150 miles (or about 300,000 paces) across southern England. We were... Continue reading

Our guest blogger is Irina Sedelnikova, IFRS insurance accounting specialist. Follow her on Twitter @gruenap or LinkedIn EFRAG has submitted its long-awaited endorsement advice letter on IFRS 9 Financial Instruments. EFRAG’s conclusion was “that overall IFRS 9 is conducive to the European public good, except for the impact on the... Continue reading

The IASB has been under fire for spreading the use of (evil) fair value accounting. Perhaps commentators are seeking a scapegoat for recent financial crises. Most ‘accountants’ see accounting as a measurement of history rather than drivers of events. But even if one does hold the view that fair value... Continue reading