With the increasing acceptance of IFRS in the global economy and its possible adoption in the U.S., CPAs are keenly interested in developing a broader understanding of international standards. A major ...

Cryptocurrencies like Bitcoin have no dedicated IFRS standard, so companies use existing rules by analogy. In 2019, the IFRS Interpretations Committee (IFRIC) ruled that because crypto is not ...

The International Accounting Standards Board (IASB) recently issued an interpretation to specify how organizations should reflect uncertainty in their accounting for income taxes. IAS 12, Income Taxes ...

THE INTERNATIONAL FINANCIAL reporting standards’ Interpretations Committee has a new chairman. Wayne Upton has taken over from Bob Garnett with immediate effect. Upton’s role as director of ...

In last week’s article, we laid down the foundation of the International Financial Reporting Interpretations Committee 23 (IFRIC 23) by discussing the key requirements of recognizing uncertain income ...

PKF has authored the 2015 Wiley publication Interpretation and Application of International Financial Reporting Standards, which went to print last January. The IFRS ...

The International Accounting Standards Board (IASB), based in London, is committed to developing a set of high quality, global accounting standards that require transparent and comparable information ...