Beyond the GAAP no. 140 - January 2020

The year 2019 drew to a close with the publication of an exposure draft proposing significant changes to the presentation of IFRS financial statements, particularly the statement of comprehensive income. Consultations will continue in the new year, with many projects listed in the IASB’s work plan.

For example, in March, the IASB is expected to publish a Discussion Paper on goodwill and impairment. While the IASB is unlikely to propose the reintroduction of amortisation of goodwill, it is expected to make proposals aimed at improving disclosures in the notes and reducing the cost of impairment testing.

Also in the first half, the Board is expected to publish a request for information related to the post-implementation review of the consolidation standards, which came into effect in 2013. The review is likely to tackle some tricky issues, such as the equity method and the practical difficulties involved in its implementation.

In addition, the IASB is expected to seek input on its future work plan (the last consultation was in 2015), so stakeholders will have plenty of opportunities to share their opinions in 2020!


Beyond the GAAP no. 140 - January 2020
140 - Index.pdf