OECD Pillar Two rules – Amendments to IAS 12 Incomes Taxes (IFRS) and to FRS 102 and FRS 101

Introduction The International Accounting Standards Board (IASB) has published amendments to IAS 12 Income Taxes (IAS 12) that introduce a temporary exception to the recognition of deferred taxes resulting from the implementation of the OECD Pillar Two rules, and that require targeted disclosures...

Hot Topic publication: Accounting & Corporate Reporting – Key considerations and reminders for 2022/2023

Here we provide a technical publication that sets out the key accounting and corporate reporting considerations and reminders for the 2022/2023 reporting season. https://blogs.mazars.com/mindthegaap/files/2022/11/Hot-Topi_Corporate-Reporting-Issues-for-Clients-2022_23-1.pdf Hot-Topic_Corporate-Reporting-Issues-for-Clients-2022_23-2Download

Hot Topic publication: Accounting & Corporate Reporting – Key considerations and reminders for 2021/2022

Here we set out two summary technical publications, one for IFRS reporters and one for UK GAAP reporters, that set out the key accounting and corporate reporting considerations and reminders for the 2021/2022 reporting season. Publication for IFRS reporters: https://blogs.mazars.com/mindthegaap/files/2022/01/Hot-Topic_-Corporate-Reporting-Overview-2021-22_IFRS-FINAL.pdf...

Hot Topic publication: What does good look like?– Improving cash flow statements and liquidity disclosures

This publication looks at how companies can improve their cash flow statements and liquidity disclosures, following the FRC’s thematic review. Please use the following link to view the Hot Topic publication: https://blogs.mazars.com/mindthegaap/files/2020/12/Hot-Topic_Cash-Flow-and-Liquidity-Disclosures-1.pdf

Top tips for 2020/21 annual reporting

At our Corporate Governance and Reporting Forum webinar, we discussed the pressures and challenges that companies, particular listed and AIM, are facing this year with their annual reporting. This article sets out our top tips for 5 significant areas of...

Impact of Covid-19: Accounting for rent concessions under IFRS and FRS 102 – The differences, similarities and are they enough?

One of the emerging trends that has arisen during the Covid-19 pandemic has been the surging number of cases of rental forgiveness or deferral, as lease arrangements are negotiated between lessees and lessors. Economically, the purpose of these negotiations is...

Hot Topic publication: Reporting on the impact of Covid-19 – Key disclosure expectations for 2020/21

This publication looks at the key disclosure expectations, in relation to the impact of Covid-19, that companies should focus on when preparing their forthcoming annual reports. Please use the following link to view the Hot Topic publication: https://blogs.mazars.com/mindthegaap/files/2020/11/Hot-Topic_Impact-of-Covid-19_Key-Disclosure-Expectations.pdf

Hot Topic publication: Key Highlights Checklist from the FRC’s Annual Review of Corporate Reporting 2019/20

This publication looks at the top ten areas of improvement highlighted by the Financial Reporting Council ("FRC") in its Annual Review of Corporate Reporting for 20129/20, setting out a checklist of what companies should be providing, and avoiding, in their...

FRS 101 amendments – Changes that prohibit insurers applying FRS 101 in their financial statements

The Financial Reporting Council (“FRC”) has issued Amendments to FRS 101 – 2018/19 cycle, which prohibit insurers applying FRS 101 Reduced Disclosure Framework (“FRS 101”) in their financial statements when IFRS 17 Insurance Contracts (“IFRS 17”) becomes effective. Why –...

Multi-employer defined benefit plans: Amendments to FRS 102 – What are the implications?

Multi-employer defined benefit plans – The FRC has issued new requirements to account for a transition from defined contribution to defined benefit accounting, so why have they done this and what are the implications? The FRC has issued Amendments to...