IFRS Perspectives - Q2 2017

When properly used, non-GAAP financial measures supplement the GAAP information to provide investors with relevant and useful additional information about a company’s financial performance, financial condition or cash flows and liquidity.

Brexit brings regulatory uncertainty and market volatility, affecting the financial statements of US companies with significant UK operations.

Implementing IFRS 15, Revenue from Contracts with Customers, is the 2017 hot topic for many IFRS preparers in the run-up to the January 1, 2018 effective date for calendar year-end companies.

Below we highlight key accounting areas requiring judgment when a company is preparing combined and/or carve-out financial statements.

The general principles that drive the classification of a financial instrument as a financial liability or as equity under IFRS are outlined below.