IFRS Institute

The KPMG IFRS Institute has been created as an open forum where board and audit committee members, executives, management, stakeholders, and government representatives can share knowledge, gain insight and access thought leadership about the evolving global financial reporting environment.

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Handbook: Share-based payments under IFRS

Download KPMG’s ISG’s handbook on share-based payments under IFRS 2.

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Leases transition options under IFRS

Download KPMG’s publication on leases transition options and KPMG’s illustrated guide to leases disclosures under IFRS.

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Tax uncertainties in the United States

KPMG’s in-depth comparison of the US GAAP accounting for uncertain tax treatments to IFRS includes examples to illustrate.

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IFRS vs. US GAAP: Liability/ equity classification

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

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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.

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IFRS and US GAAP long awaited changes to hedge accounting

The IASB took a comprehensive approach in revising its hedge accounting guidance. Effective for most companies in 2018, IFRS 9 brings many welcomed changes.

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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.

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Foreign operations in hyperinflationary economies

Accounting for foreign operations is often complex.

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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.

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Current/noncurrent debt classification (IAS 1 vs. ASC 470)

The current/noncurrent classification of debt is important to investors because it changes a company’s working capital and liquidity portrayal.

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IFRS adoption in Japan will affect US subsidiaries

Historically, Japanese Foreign Private Issuers (FPIs) have used US GAAP or JGAAP with a reconciliation to US GAAP. However, over the years IFRS has slowly but surely gained momentum in Japan.

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Accounting for legal claims: IFRS compared to US GAAP

IFRS and US GAAP have many subtle differences when accounting for provisions (loss contingencies) for legal claims.

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IFRS 9 creates challenges for corporates

The new accounting requirements for financial instruments impact all companies, not just banks.

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Accounting for insurance contracts: IFRS 17, the furthest we can be from IFRS 4

The new standard will require fundamental accounting changes to how insurance contracts are measured and accounted for. It also differs significantly from US GAAP.

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Impairment under IFRS 9: Are US companies (banks and nonbanks) considering the full picture?

Implementing IFRS 9, and in particular its new impairment model, is the focus of many global banks, insurance companies and other financial institutions in 2017, in the run-up to the effective date.

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It's a two-GAAP world, but the US market is deeply invested in IFRS

More than 120 countries around the world have adopted IFRS, making IFRS a must-know for US companies that intend to attract foreign investors, are contemplating raising capital outside the United States, or that are engaged in cross-border M&A transactions.

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5 key things about the revised IESBA Code of Ethics

Revisions to the IESBA International Code of Ethics may impact you or your company.

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US companies going public in Canada: IFRS considerations

This article explores some of the financial reporting requirements for a company deciding whether to list on a Canadian stock market.

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IFRS vs. US GAAP: R&D costs

Under US GAAP, R&D costs within the scope of ASC 730 are expensed as incurred.

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New definition of a business: IFRS compared to US GAAP

The new IFRS definition of a business could change when a transaction is an acquisition of assets or a business combination.

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Income statement presentation: IFRS compared to US GAAP

The IFRS income statement follows certain formatting requirements and options different from US GAAP.

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Acquired by an IFRS company – more than a GAAP conversion

Financial reporting implications for a US GAAP preparer acquired by an IFRS company.

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IASB to amend IFRS 17?

KPMG’s ISG publication focuses on the IASB’s criteria for balancing the potential benefits and pitfalls of amending IFRS 17.

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IFRS 3 Amendments

KPMG’s ISG publication outlines recent changes to IFRS 3 and clarifies how a business is defined under IFRS.

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