EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
Recent Searches
Focus On Reporting, providing you with the latest insights into financial reporting
The team
Featured
The new dawn of presentation and disclosure is here
IFRS 18 Presentation and Disclosure in Financial Statements was issued in April 2024 and will replace IAS 1, effective for annual reporting periods beginning on or after 1 January 2027. The statement of profit or loss will look different with the introduction of new totals and subtotals as well as categories akin to those in the statement of cash flows and performance measures. Learn more about it here.
International GAAP® 2024 is now available - free and offline
International GAAP® 2024 is now available on the EY Atlas Client Edition. It is free of charge, available offline and conveniently downloadable in PDF format. This user-friendly publication will provide you with valuable insights to IFRS, supplemented with practical examples. Download your free copy here.
Has your entity received payments from its suppliers?
Consideration received (or receivable) from suppliers is often difficult to identify and requires careful analysis and understanding of all written and implied terms in a wider context. There is no single IFRS standard applicable to these transactions due to the wide variety seen in practice. Our publication contains a useful flowchart to identify the accounting treatment under the appropriate IFRS standard. Read it here.
Do climate-related commitments create obligations?
Increasing pressure on entities to reduce carbon emissions has led to more frequent disclosures of net-zero, or emission reduction targets in financial statements. It is often unclear whether such commitments create constructive or legal obligations. A recent IFRIC agenda decision provides entities with more guidance to assess the impact on their accounts. Read it here.
New pronouncements issued as at 31 March 2024
This publication outlines the latest IFRS pronouncements and amendments that are effective as at 31 March 2024. Access this useful summary here.
Have you considered accounting implications arising from economic volatility?
Increasing interest rates and inflation alongside fluctuations in commodity prices and foreign exchange rates look set to prevail for a while into the future. Entities should carefully consider the potential accounting impacts that prolonged economic volatility may have on their financial statements. Read more about the key considerations here.