In this last no­vus IFRS be­fore the end of the year, we in­form you about the chan­ges to the re­verse fac­to­ring pro­ce­dure. In ad­di­tion, we have com­pi­led key dis­clo­sures to be re­por­ted in an EU-IFRS con­so­li­da­ted fi­nan­cial state­ment as of De­cem­ber 31, 2021 with re­gard to stan­dards and in­ter­pre­ta­ti­ons that have al­re­ady been ad­op­ted.

Re­verse fac­to­ring is an in­cre­asin­gly po­pu­lar op­tion for pre-fi­nan­cing a com­pany's suppliers. In con­trast to con­ven­tio­nal fac­to­ring, the in­itia­tive co­mes from the cu­st­omer and not from the supplier. In this no­vus IFRS, we in­form you about how the IDW, with the draft amend­ment IAS 1-M1 (Re­verse Fac­to­ring) to IDW RS HFA 50, has cla­ri­fied the ques­ti­ons of whe­ther the pre­vious ob­li­ga­tion from de­li­ve­ries and ser­vices is to be de­re­co­gnized or whe­ther it is to be In ad­di­tion, we will pro­vide you with in­for­ma­tion on the la­test de­ve­lop­ments in the field of fi­nan­cial re­por­ting. In ad­di­tion, we pre­sent the la­test IASB pu­bli­ca­ti­ons "Sub­si­dia­ries not pu­bli­cly ac­coun­ta­ble: Dis­clo­sures in the no­tes" and "First-time ad­op­tion of IFRS 17 and IFRS 9 - Com­pa­ra­tive in­for­ma­tion".

The IFRS In­ter­pre­ta­ti­ons Com­mit­tee (IFRS IC) has ad­dres­sed the spe­ci­fics of ac­coun­ting for con­fi­gu­ra­tion and cu­st­omiza­tion costs in soft­ware-as-a-ser­vice (SaaS) ar­ran­ge­ments. In this edi­tion of no­vus IFRS, we in­form you about the re­sults of the de­li­be­ra­ti­ons on this to­pic as well as about other im­port­ant to­pics that the stan­dard set­ters dealt with in the se­cond quar­ter of 2021.

In this is­sue of no­vus IFRS, we have com­pi­led for you im­port­ant pu­bli­ca­ti­ons on IFRS ac­coun­ting publis­hed by stan­dard set­ters and in­sti­tu­ti­ons. In ad­di­tion, we pre­sent the la­test pu­bli­ca­ti­ons of the IASB.

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.

In this edi­tion of no­vus IFRS, we look at si­gni­fi­cant ef­fects on IFRS ac­coun­ting and the chal­len­ges in pre­pa­ring an­nual / con­so­li­da­ted and in­te­rim fi­nan­cial state­ments. The re­le­vance of the to­pics de­scri­bed be­low va­ries wi­dely - de­pen­ding on the in­dus­try and the con­di­ti­ons of the re­spec­tive com­pany.