We begin this first edition of 2018 by considering the potential effect of the recent US tax reforms on IFRS preparers with operations in America. We also remind readers of the key aspects of the two major new Standards coming into effect on 1 January 2018 (IFRS 9 ‘Financial Instruments’ and IFRS 15 ‘Revenue from Contracts with Customers’) and take a look at issues that are currently attracting regulators’ attention.
We then move on to look at amendments the IASB has recently made to its Standards. Further on in the newsletter, you will find IFRS-related news at Grant Thornton and a general round-up of financial reporting developments.
We finish with a summary of the implementation dates of recently issued Standards, and a list of IASB publications that are out for commentIf you would like to discuss any of the topics raised in the newsletter please contact me or your local Grant Thornton member firm.