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25 April 2016

Counterpoint: Symmetry of balance sheet recognition and measurement criteria

There are some questions that substantially divide the accounting practice. Following our first blog of this series (see link here) we try to tackle today the question of balance sheet symmetry: Should assets and liabilities follow the same recognition and measurement criteria? Isn’t being prudent (sharp tongues might say “permitted...

07 April 2016

Counterpoint: Recognition and subsequent measurement of goodwill

There are questions that divide any room full of accountants. Threshold questions like the meaning of prudence, balance of recognition criteria for assets and liabilities, recycling from OCI (is it a parking lot or an elephant’s graveyard?), debt versus equity, etc. The accountants in the room might not be able...

23 March 2016

What trends in pensions accounting have recently come to light?

This week’s guest blogger is Brian Peters, partner and lead of PwC's pension accounting business. Connect to him on LinkedIn Following the 31 December 2015 year-end financial reporting process, it is time to reflect on some of the interesting trends and issues in pensions accounting that came to light, and...

10 February 2016

Online gaming, revenue recognition and IFRS 15 - #Epicfail?

This week’s guest blogger is Gary Berchowitz from Global Accounting Consulting Services in South Africa. Connect to him on LinkedIn. Are you passionate about IFRS 15? Don’t be shy, we’re all accountants here or you are reading the wrong blog. Are you interested in online gaming? Answered yes to either...

25 January 2016

Will you be the new leases standard’s valentine?

This week’s guest blogger is Derek Carmichael from Global Accounting Consulting Services in London. Connect to him on LinkedIn. IFRS 16 is finally here, just in time for Valentine’s Day season. Like the course of true love, the path to the final standard has not been easy and has shared...

18 January 2016

Are we there yet? The road to IFRS

This week’s guest blogger is Saad Siddique, Accounting Consulting Services UK. Connect to him on LinkedIn. A recent talk at PwC from Christopher Nobes, Professor of Accounting at Royal Holloway (University of London), on his research on the adoption of IFRS worldwide brought a range of answers to my titular...

17 December 2015

Santa and the new leasing standard

Alexander Woodford gives us some entertainment over the holiday season with his take on the latest accounting challenges faced by Father Christmas. The Chief Financial Reporting Elf was relaxing in his grotto this Christmas Eve morning having just sent out a memo regarding Santa’s exciting new project in the manufacturing...

07 December 2015

The best things in life are free…or are they?

This week’s guest blogger is Katja van der Kuij, CMAAS and ACS director in the Netherlands. Connect to her on LinkedIn. My world is full of freebies nowadays: I can get a free smartphone from my telecom provider in combination with a 2-year data plan, a free tablet with a...

24 November 2015

Act now to avoid an income statement charge from your pension deficit

This week’s guest blogger is Brian Peters, partner and lead of PwC's pension accounting business. Connect to him on LinkedIn The IASB is planning to amend IFRIC 14 and the outcome might not be what companies expect. The new accounting rules will require companies to have a balance sheet liability...

23 November 2015

Is it still a ‘purchase price allocation’ under IFRS 3 and does it matter what we call it?

Musings on mankind’s clinging to ‘names’ even when the names are incorrect by Lihor Spazzoli, PwC ACS Partner, South Africa. Connect with him on LinkedIn. All views are those of the author. I grew up in Florence, Italy, the most beautiful city in the world. Any story can be told...