IFRIC 23 income tax uncertainties, accounting for PP&E, hyperinflationary economies, hedge accounting and leases implementation.
Insight Uncertainty over income tax treatments: IFRIC 23 brings change IFRIC 23 clarifies how to account for income tax when it is unclear whether the taxing authority will accept the company’s tax treatment.
Insight Accounting for PP&E under the IFRS component approach Complex assets often comprise multiple parts that need to be periodically replaced or overhauled during their useful lives.
Insight Hedge accounting Hedge accounting got an overhaul as the IASB took a comprehensive approach to revise its hedge accounting guidance with US GAAP and IFRS bringing changes.
Insight Leases survey highlights implementation issues While companies are making progress in their IFRS 16 implementation efforts, KPMG’s survey highlights the need for greater effort and a longer lead time than expected.