Beyond the GAAP no. 82 - October 2014
As entities begin to analyse the future impact of IFRS 15, the IASB and the FASB have published the report of the first meeting of the Transition Resource Group (TRG), charged with identifying any application problems that deserve the attention of the Boards. This is an opportunity for Beyond the GAAP to return to these discussions, and to the items on the agenda of the second meeting of the TRG.
In parallel, and as happens every year around this time, ESMA has published its priorities for 2014 financial statements. The regulator focuses on the impact of the first application of the new consolidation standards in Europe, and on the importance of providing disclosures that are material, specific and relevant to understanding the performance and financial situation of the issuer. In this edition, Beyond the GAAP will guide you through these recommendations.