In this issue
In this edition, we continue to explore further aspects of the ‘triple threat’ accounting standards, this month highlighting how interest free or below-market interest rate loans are accounted for under IFRS 9, how sale and leaseback arrangements are accounted for under IFRS 16, and how the three new accounting standards could impact business combination accounting for acquisitions that occurred prior to the effective date of these new standards.
In our not-for-profit section we continue our focus on whether AASB 15 or AASB 1058 applies to income received, this month focussing on grants to conduct research and transfer of intellectual property.
And lastly, in international developments, we summarise some recent agenda decisions of the IFRS Interpretations Committee, as well as the IASB’s position regarding how quickly these agenda decisions need to be implemented by companies needing to change accounting policies.
TRIPLE THREAT ACCOUNTING STANDARDS
Download a copy of the April 2019 Edition of Accounting News.