EY Board Matters Quarterly

Board Matters Quarterly is an EY publication that aims to provide you with important information on corporate and financial reporting matters in Singapore.

Issue 3 (September 2019)

Issue 2 (June 2019)

Issue 1 (February 2019)

Issue 4 (November 2018)

Issue 3 (September 2018)

Issue 2 (June 2018)

Issue 1 (March 2018)

Issue 3 (November 2017)

Issue 2 (August 2017)

Issue 1 (May 2017)

Issue 30 (December 2016) 

Issue 29 (September 2016)

Issue 28 (June 2016)

Issue 27 (March 2016)

Issue 26 (December 2015)

Issue 25 (September 2015)

Issue 24 (June 2015)

Issue 23 (March 2015)

IFRS Developments

IFRS Developments announces significant decisions on topics that have a broad audience, application or appeal.  These summarise, generally in four pages, IASB and IFRS Interpretations Committee discussion papers, exposure drafts, final standards or interpretations to provide a high-level overview of the requirements.

2021

Issue 200  Supplier finance arrangements – IASB proposes additional disclosure requirements

Issue 199  Accounting for trees held to generate carbon offsets for use or sale

Issue 198  Classification of non-current liabilities with covenants - proposed amendments

Issue 197  Hyperinflationary economies (updated November 2021)

Issue 196  IFRS Foundation establishes the International Sustainability Standards Board

Issue 195  IFRS IC tentative agenda decision: cash received via electronic transfer

Issue 194  Subsidiaries without public accountability: disclosures

Issue 193  Agenda decision clarifies costs necessary to sell inventories

Issue 192  IASB proposes a new framework for management commentary

Issue 191  IASB clarifies deferred tax accounting for leases and decommissioning obligations

Issue 190  One step closer to an International Sustainability Standards Board

Issue 189  IASB extends relief for COVID-19 related rent concessions

Issue 188  Disclosure requirements in IFRS Standards – a pilot approach

Issue 187  The Disclosure Initiative – IASB amends the accounting policy requirements

Issue 186  The IASB defines accounting estimates

Issue 185  IASB proposes extension of relief for COVID-19 related rent concessions

Issue 184  IASB issues Exposure Draft on regulatory assets and regulatory liabilities

Issue 183  Going concern - disclosure reminders issued by the IASB

Issue 182  Agenda Decision on reverse factoring

Issue 181  IASB issues Request for Information on IFRS standards on group accounting

2020

Issue 180  IASB issues ED on measuring the lease liability arising in a sale and leaseback transaction

Issue 179  IASB proposes new requirements for business combinations under common control

Issue 178  Income taxes – Impact of Brexit

Issue 177  IASB releases educational material on IFRS Standards and climate risks

Issue 176  IFRS Foundation Trustees publish consultation paper on sustainability reporting

Issue 175  Hyperinflationary economies

Issue 174  IASB completes its IBOR reform programme

Issue 173  Revisions to the IFRS Foundation's Due Process Handbook

Issue 172  IBOR reform - IASB responds to comments on phase 2 exposure draft

Issue 171  Sale and leaseback transactions with variable payments that do not depend on an index or rate

Issue 170  IASB amends IFRS 16 for COVID-19 related rent concessions

Issue 169  Amendments to IFRS 3 - Reference to the Conceptual Framework

Issue 168  IASB issues Exposure Draft on COVID-19 related rent concessions

Issue 167  Supplementary IASB meeting - the impact of the COVID-19 pandemic

Issue 166  IASB proposes amendment to IFRS 16 for COVID-19 related rent concessions

Issue 165  IBOR reform: IASB publishes phase 2 exposure draft

Issue 164  IASB releases educational material on COVID-19 related rent concessions applying IFRS 16 Leases

Issue 163  IASB and regulators highlight IFRS 9 ECL requirements during the coronavirus pandemic

Issue 162  IBOR reform: IASB discusses remaining phase 2 issues

Issue 161  Financing and investing entities: proposed changes to primary financial statements

Issue 160  IBOR reform: phase two (continued)

Issue 159  Amendments to the classification of liabilities as current or non-current

2019

Issue 158  IASB proposes major changes to primary financial statements

Issue 157  Lease term and useful life of leasehold improvements

Issue 156  IBOR reform: IASB discusses phase two hedge accounting issues

Issue 155  Revenue earned before an asset is ready for its intended use

Issue 154  IBOR reform: IASB discusses phase two classification and measurement issues

Issue 153  Presentation of liabilities or assets related to uncertain tax treatments

Issue 152  IBOR reform: publication of the phase 1 amendments and commencement of phase 2

Issue 151  IBOR reform: the finalisation of phase one

Issue 150  Holdings of cryptocurrencies

Issue 149  Sale of output by a joint operator

Issue 148  IBOR reform: the IASB's proposals, part 3

Issue 147  Curing of a credit impaired financial asset (IFRS 9 Financial instruments)

Issue 146  Subsurface rights (IFRS 16 – Leases)

Issue 145  IBOR reform - the IASB’s proposals, part 2

Issue 144  IBOR reform - the IASB’s proposals

Issue 143  Liabilities in relation to a joint operator's interest in a joint operation

Issue 142  Sale of output by a joint operator

Issue 141  Step acquisition of a subsidiary in separate financial statements

2018

Issue 140  Revenue earned before an asset is ready for its intended use

Issue 139  Physical settlement of contracts to buy or sell a non-financial item

Issue 138  IASB issues amendments to the definition of material

Issue 137  IASB issues amendments to the definition of a business in IFRS 3

Issue 136  Hyperinflationary economies (Updated July 2018)

Issue 135  IASB issues discussion paper on financial instruments with characteristics of equity

Issue 134  IASB issues amendments to IAS 19 Employee Benefits

Issue 133  IFRS accounting for US tax reform (Updated 23 January)

2017

Issue 132  US Tax Reform impact on 2017 IFRS reporting

Issue 131  IASB concludes 2015-2017 Annual Improvements Cycle

Issue 130  IASB issues an Amendment to IFRS 9

Issue 129  Disclosure Initiative – updates on the Materiality Project

Issue 128  Revenue earned before an asset is ready for its intended use

Issue 127  IFRIC 23 – Uncertainty over income tax treatments

Issue 126  Are you ready to quantify the effect of adopting IFRS 15? 

Issue 125  IASB proposes amendment to IFRS 9 on measuring instruments with negative compensation prepayment features

Issue 124  Disclosure Initiative – Principles of Disclosure 

Issue 123  Brexit and the implications for tax accounting

2016

Issue 122  IASB proposes amendments to IFRS 3 and IFRS 11

Issue 121  IASB issues amendments to IFRS 2

Issue 120  IASB debriefs the April 2016 FASB TRG meeting on revenue

Issue 119  IASB issues clarifications to IFRS 15

Issue 118  IASB completes redeliberations on proposed amendments to IFRS 15

Issue 117 IASB issues new leases standard

2015

Issue 116  IASB redeliberates clarifications to IFRS 15

Issue 115  Disclosure Initiative - proposed guidance on materiality

Issue 114  New leases standard - effective date and sweep issues

Issue 113  IASB discusses the definition of completed revenue contracts

Issue 112  ITG discusses IFRS 9 impairment implementation issues 

Issue 111  IASB proposes clarifications to IFRS 15

Issue 110  IASB decides to defer the new revenue standard by one year

Issue 109  Next steps for the accounting for dynamic risk management project

Issue 108  Principal versus agent: IASB to propose amendments to IFRS 15

Issue 107  IASB issues an exposure draft proposing a one-year deferral of its new revenue standard

Issue 106  IASB proposes one-year deferral for new revenue standard

Issue 105  The ITG discusses IFRS 9 impairment implementation issues

Issue 104  IASB and FASB decide to make more changes to their new revenue standards

Issue 103  IASB staff to begin drafting the new leases standard

Issue 102  Boards reach different decisions on some of the proposed changes to the new revenue standards

Issue 101  IASB substantially completes redeliberations on leases

Issue 100  Basel Committee proposes guidance on accounting for expected credit losses

Issue 99  Boards decide to require different lessee disclosures

Applying IFRS

Longer and more detailed than IFRS Developments, Applying IFRS provides analyses of proposals, standards or interpretations and discussion of how to apply them.

Applying IFRS - Accounting for SPACs (updated November 2021)

Applying IFRS - Accounting for cloud computing costs (updated July 2021)

Applying IFRS - IBOR reform (updated May 2021)

Applying IFRS - Disclosure of COVID-19 impact (October 2020)

Applying IFRS: IFRS 15 Revenue from Contracts with Customers (updated October 2020)

Applying IFRS: IBOR reform (October 2020)

Applying IFRS: Accounting for COVID-19 related rent concessions (updated July 2020)

Applying IFRS: Accounting considerations of the coronavirus pandemic (updated July 2020)

Applying IFRS: Accounting for cloud computing costs (July 2020)

Applying IFRS: Accounting for COVID-19 related rent concessions (June 2020)

Applying IFRS: Accounting considerations of the coronavirus pandemic (updated June 2020)

Applying IFRS: Accounting considerations of the coronavirus outbreak (April 2020)

Applying IFRS: Accounting considerations related to recent declines in oil and gas prices (April 2020)

Applying IFRS: Business combinations: disclosures, goodwill and impairment (March 2020)

Applying IFRS: Accounting considerations of the coronavirus outbreak (March 2020)

Applying IFRS: Accounting considerations of the coronavirus outbreak (February 2020)

Applying IFRS: A closer look at IFRS 16 Leases (December 2019)

Applying IFRS: Presentation and disclosure requirements of IFRS 16 Leases (December 2019)

Applying IFRS: Presentation and disclosure requirements of IFRS 15 (November 2019)

Applying IFRS: A closer look at IFRS 15, the revenue recognition standard (September 2019)

Applying IFRS: Accounting by holders of crypto-assets (September 2019)

Applying IFRS: Accounting for leases relating to a joint operation (September 2019)

Applying IFRS: Transition Resource Group for Revenue Recognition (TRG) items of general agreement (March 2019)

Applying IFRS: A closer look at IFRS 16 Leases (December 2018)

Applying IFRS: Impairment considerations for the new leasing standard (IFRS 16 Leases) (November 2018)

Applying IFRS: Presentation and disclosure requirements of IFRS 16 Leases (November 2018)

Applying IFRS: Alternative Performance Measures (October 2018)

Applying IFRS: A closer look at IFRS 15, the revenue recognition standard (October 2018)

Applying IFRS: Accounting by holders of crypto-assets (August 2018)

Applying IFRS: Presentation and disclosure requirements of IFRS 15 (July 2018)

Applying IFRS 17: A closer look at the new Insurance Contracts standard (April 2018)

Applying IFRS: Impairment of financial instruments under IFRS 9 (April 2018)

Applying IFRS:  IASB issues revised Conceptual Framework for Financial Reporting (April 2018)

Applying IFRS:  A closer look at IFRS accounting for the effects of the US Tax Cuts and Jobs Act (February 2018) 

Applying IFRS: Accounting for the financial impact of natural disasters (December 2017)

Applying IFRS: Presentation and disclosure requirements of IFRS 15 (October 2017)

Applying IFRS: A closer look at the new revenue recognition standard (October 2017)

Applying IFRS: Presentation and disclosure requirements of IFRS 15 (July 2017)

Applying IFRS: Leases standard for Consumer Products and Retail (June 2017)

Applying IFRS: A closer look at the new revenue recognition standard (September 2016)

Applying IFRS: A closer look at the new leases standard (August 2016)

Applying IFRS: Heading for Brexit - Accounting and reporting considerations of the UK's vote to leave the EU (July 2016)

Applying IFRS: Joint Transition Resource Group for Revenue Recognition - items of general agreement
(June 2016)

Applying IFRS: IFRS 9 for non-financial entities (March 2016)

Applying IFRS: ITG discusses IFRS 9 impairment issues at December 2015 ITG meeting (December 2015)

Applying IFRS: Joint Transition Resource Group for Revenue Recognition items of general agreement (December 2015)

Applying IFRS: TRG addresses more revenue implementation issues (November 2015)

Applying IFRS: A closer look at the new revenue recognition standard (October 2015)

Applying IFRS: Joint Transition Resource Group for Revenue Recognition items of general agreement (August 2015)

Applying IFRS: Joint Transition Resource Group discusses additional revenue implementation issues (July 2015)

Applying IFRS: IASB issues the Conceptual Framework exposure draft (June 2015)

Applying IFRS in Retail and Consumer Products: The new revenue recognition standard - retail and consumer products (May 2015)

Applying IFRS: Joint Transition Resource Group for Revenue Recognition items of general agreement (May 2015)

Applying IFRS: Classification of financial instruments under IFRS 9 (May 2015)

Applying IFRS: IFRS Interpretations Committee agenda decisions relating to IFRS 11 (April 2015)

Applying IFRS: Accounting for share-based payments under IFRS 2 - the essential guide (April 2015)

Applying IFRS:  Joint Transition Resource Group for Revenue Recognition discusses more implementation issues (April 2015)

Applying IFRS:  New standard on leases is taking shape (April 2015)

Applying IFRS: The new revenue standard affects more than just revenue (February 2015)

Applying IFRS: Impairment of financial instruments under IFRS 9 (December 2014)

Applying IFRS: Improving disclosure effectiveness (July 2014)

Applying IFRS: Challenges in adopting and applying IFRS 11 (June 2014)

Applying IFRS: A closer look at the new revenue recognition standard (June 2014)

Applying IFRS: Accounting for levies (June 2014)

Applying IFRS: Hedge accounting under IFRS 9 (February 2014)

Applying IFRS: Challenges in adopting and applying IFRS 10 (December 2013)

Applying IFRS: How the lease accounting proposal might affect your company (August 2013)

IFRS for SMEs Publications

Talking SMEs  (June 2012)

IFRS for SMEs: Comparison to IFRS (April 2010)

Other Publications

How will IFRS 16 Leases impact the real estate sector? (May 2016)

IFRS Practical Matters - Leases make their way onto the balance sheet: Navigating the journey for a smooth landing (February 2016)

IFRS Update of standards and interpretations in issue at 31 December 2015 (January 2016)

IFRS Update of standards and interpretations in issue at 31 March 2015 (April 2015)

IFRS Practical Matters – Revenue reckoning: a transformational new standard (October 2014)

IASB Projects: A pocketbook guide as at 30 June 2014 (June 2014)

Leases Re-exposed: Another attempt at improving lease accounting  (June 2013)

IAS 36 Impairment Testing: Practical Issues (2011)

Controlling the effects of NCIs (2010)

Impairment accounting IAS 36 (2010)

Searching for Clarity in Uncertain Tax Positions (2010)