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The impact of climate change is a high-profile issue that investors and regulators are focusing on. This In depth considers the impact of the environmental, social and governance (ESG) matters, specifically focused on the effect of climate change on the IFRS financial statements. View this publication PwC ViewPoint Error happened.
The IASB (‘Board’) has concluded that the cost of an asset includes any costs attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. One of those costs is testing whether the asset is functioning properly. The amendment to IAS 16 prohibits an entity from deducting…
Read More “Amendment to IAS 16 – Proceeds before intended use” »
Hedge accounting under IFRS 9 is more attractive than under IAS 39. And it may be easier to comply with the requirements although ‘easier’ is a relative term. Hedge accounting is still optional but a wider range of instruments qualify as hedging instruments, effectiveness testing is simplified and more things can be hedged. This in…
Read More “Achieving Hedge Accounting in Practice- PwC In Depth IFRS 9 Guide” »