New BDO IFRB – ESMA Enforcement Decisions

BDO has issued International Financial Reporting Bulletin (IFRB) 2018/04, which summarises the European Securities and Markets Authority’s (ESMA’s) 22nd extract from the European Enforcers Co-ordination Sessions (EECS’s) database of enforcement.

The extracts summarised in the IFRB includes decisions dealing with the application of:

• IFRS 5 Non-current Assets Held for Sale and Discontinued Operations to the classification of an asset that is not expected to be sold within one year;
• IAS 7 Statement of Cash Flows to the presentation and disclosure of restricted cash balances;
• IAS 32 Financial Instruments to perpetual notes classified as liabilities;
• IAS 1 Presentation of Financial Statements and IAS 36 Impairment of Assets to the disclosure of quantitative commodity price assumptions;
• IFRS 3 Business Combinations, IFRS 13 Fair Value Measurement and IAS 38 Intangible Assets to the purchase price allocation of a group of acquired assets;
• IFRIC 17 Distributions of Non-cash Assets to Owners to the demerger and distribution of a segment to the issuer’s shareholders
• IAS 1 Presentation of Financial Statements to revaluation losses of assets used in operating activities;
• IFRS 10 Consolidated Financial Statements to the determination of when power is obtained over an investee following a tender offer;
• IAS 8 Accounting Policies, Changes in Estimates and Errors, IAS 21 The Effects of Changes in Foreign Exchange Rates and IAS 29 Financial Reporting in Hyperinflationary Economies to the lack of foreign currency exchangeability and hyperinflation in Venezuela; and
• IAS 38 Intangible Assets to the amortisation of content rights for film and television programmes.

Please click here to be redirected to the BDO Global website to access the suite of BDO IFR Bulletins.