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PwC's IFRS technical update video September 2020
This PwC IFRS technical update webcast covers IBOR reform Phase 2 amendments, other IASB and IFRIC developments and disclosure reminders.
Emerging from accounting change
In response to the recent business and economic environment evolutions and changes, the IASB, in the recent years, issued a number of new International Financial Reporting Standards and in some instances, amendments to existing standards.
Some of the international financial reporting standards that the IASB issued were IFRS 17 ‘Insurance Contracts’, IFRS 16 ‘Leases’, IFRS 15 ‘Revenue from Contracts with Customers’, IFRS 9 ‘Financial Instruments’.
Given the complexity of those standards and their broader impact on organisations, entities are seeking more and more assistance from external consultants.
We, in Capital Markets & Accounting Advisory Services (CMAAS), assist our clients in addressing all the challenges in a systematic and effective manner.
This minimises disruption in our clients’ operations and also facilitates them to get the relevant implementation projects right the first time.
Following a fully successful implementation of an IFRS, entities need to also continuously make sure that they are complying with those standards which can become cumbersome if they are not accompanied by the appropriate business partner.
Some of the questions that we help our clients answer include:
- What are the requirements of the specific IFRS?
- What does changing to IFRS involve?
- How does IFRS compare to other accounting frameworks?
- What do IFRS financial statements look like?
- Where can I get advice on applying and interpreting IFRS?
Browse through our services
We help companies to successfully complete the transition to IFRS Framework or a particular IFRS, as appropriate. We have a range of specialists to assist you on the effective transition methodology, technical accounting expertise, treasury, tax, human resource, M&A, valuations and project management.
IFRS Conversion and new IFRS implementation
Conversion to IFRS is much more than a technical accounting issue. IFRS implementation typically affects an entity’s day-to-day operations and in most instances have an impact on the profitability of the business. Being fully IFRS compliant adds more credibility, transparency and comparability in an entity’s financial reporting.
IFRS Training
Major new standards for financial instruments, revenue recognition and leasing present significant challenges to preparers of financial statements.
Browse through our latest IFRS articles, podcasts, and more
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Covid-19: IFRS technical update
This PwC IFRS technical update webcast will cover the accounting implications for coronavirus.
Insights to IFRS 17 - 4. Expected cash flows and contract boundary
What cash flows are included in the measurement of insurance contracts under IFRS 17? Watch Gail Tucker and Jitka Uhlirova discuss how the contract boundary changes the measurement.
PwC's How to apply IFRS 16 - 10. Market communication
In the final episode, Hilary Eastman, Head of Global Investor Engagement, talks about communicating the IFRS 16 accounting changes to the market and the type of information that investors and analysts would want to see.
PwC's How to apply IFRS 16 - 9. Discount rates
In this video, we are joined by Nick Croft, UK Real Assets Valuation Leader, who helps PwC clients to calculate discount rates. Nick explains where to start when calculating an incremental borrowing rate and how multinational groups could calculate rates for each subsidiary, as well as in different territories.
PwC's How to Apply IFRS 16 - 8. System selection
In this video, we are joined by Mira Bhadresha, PwC’s System Selection and Implementation Expert, who addresses the following questions: Why are clients considering implementing new systems for IFRS 16? What types of systems are available? What to consider when choosing a system and how long will it take to implement?
PwC's How to apply IFRS 16 - 7. Collecting data
In this video, we are joined by Jonathan Evans, Director of Data Analytics, who works with PwC clients to gather, validate and manage lease data required for IFRS 16. Operating lease accounting calculations under IFRS 16 will be more complex requiring additional data that may not have been collected previously. This...
PwC's How to apply IFRS 16 - 6. Implementation
In this video, we are joined by Jay Tahtah, Accounting Advisory Partner, who works with PwC clients on implementation of IFRS16. Implementation begins with a detailed impact assessment which is a crucial step for every client to make decisions around accounting policies and judgements, the discount rate, data gathering...
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