Skip to main content

Summary of October 2017 GPF meeting available


The Global Preparers Forum held a meeting on Wednesday 4 October 2017.
The following items and projects were discussed:
  • Exposure Draft Property, Plant and Equipment—Proceeds before Intended Use
  • Reputation Survey
  • Exposure Draft Definition of Material
  • Exposure Draft Accounting Policies and Accounting Estimates
The summary of the meeting, recordings of the discussion and related papers are available on the meeting page.


Reference Links:
http://www.ifrs.org/news-and-events/calendar/2017/october/global-preparers-forum/
http://www.ifrs.org/-/media/feature/meetings/2017/october/gpf/gpf-oct-2017-meeting-notes-website.pdf
Labels:

Comments

Post a Comment

Popular posts from this blog

Important Improvements Included in COSO’s New Enterprise Risk Management Framework

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released the final version of its revised enterprise risk management (ERM) Framework,  Enterprise Risk Management–Integrating with Strategy and Performance ,  in September 2017. In the Framework, COSO has come a long way since its initial exposure draft. The Framework takes important steps toward breaking down the siloed nature of managing risk and integrating the responsibly throughout the organization. In  IFAC’s response  to the 2016 exposure draft, we noted that, while the Executive Summary stressed the importance of integration of risk management, the draft Framework itself did not yet sufficiently live up to those aspirations. The final version of the framework now highlights the importance of considering integrating risk in both determining strategy and in driving performance. In this respect it is now closely aligned with the central theme of IFAC’s thought paper  From Bol...
Post a Comment
Explore more »

MINISTER OF FINANCE SAYS FISCAL DISCIPLINE, RATIONAL ALLOCATION OF RESOURCES ARE VITAL FOR ECONOMIC GROWTH

Fiscal discipline, improved revenue generation, rational allocation and efficient use of resources must be imbibed every tier of Government in the country to return the economy to the path of sustainable growth and development. Other efforts needed to put the country on sustainable growth include the refocusing attention on quality investment in the real sectors of the economy namely agriculture, manufacturing, mines and steel, as well as the promotion of Micro, Small and Medium Enterprises as the critical contributors to the growth of our Gross Domestic Product (GDP).  Minister of Finance, Mrs. Kemi Adeosun stated this in a keynote address at a Retreat organized by the Federal Ministry of Finance in collaboration with the Federation Account Allocation Committee (FAAC) on the theme “Enhancing the Effectiveness of FAAC,” on Thursday in Uyo, Akwa Ibom State.  The Minister was represented at the event by the Permanent Secretary, Federal Ministry of Finance, Dr. Mah...
Post a Comment
Explore more »

Bahamas to move to accrual accounting, PM announces

The prime minister of Bahamas has announced plans to fully switch to accrual-based accounting, claiming that the current accounting system is “woefully lacking” when it comes to providing an overview of the country’s financial position. Addressing the Bahamas Institute of Chartered Accountants’ (BICA) Accountant Week last month, prime minister Hubert Minnis reportedly said the government would switch by the end of June 2022, while the accounting system would be implemented by the wider public sector by 2023. He described the move as “no small feat”, but said the current cash-based system was lacking in providing a complete and accurate view of the financial position, activities and performance, according to one of the country’s leading daily newspapers, the  Bahamas Tribune . “As policymakers we value the importance of financial reporting that meets international standards. It is essential that we are in a position to util...
Post a Comment
Explore more »