Beyond the GAAP - November 2014 issue

The end of the year is fast approaching! This is an opportunity for us to provide an update on the new texts that are of mandatory application for the 2014 reporting period, or which may be applied early.

We also present the tentative decisions of the Interpretations Committee regarding the application of IFRS 11 to joint arrangements. In its 2014 common enforcement priorities, ESMA has highlighted the need to revise the analyses in the light of the IFRS IC’s conclusions. There may still be time to influence these positions: the tentative decisions published in the November IFRIC Update are open to comments until 20 January 2015.

Highlights

IFRS Standards

The IASB proposes three amendments to IFRS 2
IAS12 – Uncertain tax positions: towards an interpretation
Rate-regulated Activities — is there anything missing from the balance sheet? Outreach event jointly organised by EFRAG and the IASB on 18 December 2014

A closer look

IFRS 11: IFRS IC finally publishes its reasons for rejecting some issues
European highlights - Standards and interpretations applicable at 31 December 2014