novus IFRS 2nd Edition 2020

The corona pan­de­mic con­ti­nues to have a full grip on so­cial life and also the eco­nomy - and the eco­no­mic chal­len­ges are re­flec­ted in new ac­coun­ting re­qui­re­ments. That is why we have com­pi­led an over­view of im­port­ant pu­bli­ca­ti­ons on IFRS ac­coun­ting in this edi­tion of no­vus IFRS.

SPOT­LIGHT

• Amend­ment to IFRS 16: Op­tio­nal prac­ti­cal ex­pe­dient for rent con­ces­si­ons gran­ted be­cause of Co­vid-19  
• Dis­cus­sion Pa­per on enhan­ced dis­clo­su­res on busi­ness com­bi­na­ti­ons and good­will im­pair­ment
• IFRS ac­coun­ting in the coro­na­vi­rus pan­de­mic

GUI­DANCE ON CON­SO­LI­DA­TED FI­NAN­CIAL STATE­MENTS

• Dis­clo­su­res re­qui­red by IASB pro­noun­ce­ments
• Ef­fects of new and amen­ded stan­dards and in­ter­pre­ta­ti­ons (IAS 8.28)
• New and amen­ded stan­dards and in­ter­pre­ta­ti­ons is­sued but not yet ef­fec­tive (IAS 8.30)

IASB and IFRS IC PRO­NOUN­CE­MENTS

• Ex­po­sure Draft on ge­ne­ral pre­sen­ta­tion and dis­clo­su­res to re­place IAS 1: What the new ‘state­ment of pro­fit or loss’ should look like
• IFRS In­ter­pre­ta­ti­ons Com­mit­tee agenda de­ci­si­ons
  
• Dis­clo­sure In­itia­tive – Sub­si­dia­ries that are SME
• IFRS Prac­tice State­ment ‘Ma­nage­ment Com­men­tary’
• Rate-re­gu­la­ted Ac­tivi­ties

ASCG

• IDW – In­sti­tut der Wirt­schaftsprüfer: Ad­di­tio­nal mo­du­les on IDW RS HFA 50 cla­ri­fy­ing ap­pli­ca­tion is­sues in con­nec­tion with IFRS 1, IFRS 9 and IFRS 16 
• ASCG In­ter­pre­ta­tion 1 on the Cur­rent/Non-cur­rent Clas­si­fi­ca­tion in the State­ment of Fi­nan­cial Po­si­tion wi­th­drawn
• Pu­bli­ca­tion of DRS 28 ‘Seg­ment Re­por­ting’
• Re­vi­sion of DRSC Im­ple­men­ta­tion Gui­dance AH 3 (IFRS) on Cri­sis Si­tua­ti­ons

EU EN­DOR­SE­MENT

• EU En­dor­se­ment Sta­tus Re­port

EN­FORCE­MENT AGEN­CIES

• Ac­ti­vity Re­port 2019 of the Deut­sche Prüfstelle für Rech­nungs­le­gung (DPR, Fi­nan­cial Re­por­ting En­force­ment Pa­nel (FREP) 
• FREP en­force­ment prio­ri­ties 2021
• Fin­dings of er­rors by FREPR
• ESMA – En­force­ment de­ci­si­ons publis­hed

IN­TER­NAL