IASB/EFRAG

Two calls for contributors to the FRSC’s comment letters

Within the EAA, the Financial Reporting Standards Committee (FRSC) views itself as the academic sparring partner to the financial reporting standard setters including the IASB and EFRAG. To this end, the FRSC regularly writes comment letters and organizes EAA Reporting Standards Workshops together with the IASB and EFRAG. Within the frame of this activity, the Financial Reporting Standards Committee (FRSC) invites expressions of interest in contribution to one of the two following comment letter projects.…
BAHA DIYAROV
BAHA DIYAROV
2 min read
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225

SRC is inviting expressions of interest in contribution to the comment letters as a response to the EFRAG’s EDs on LSME and VSME

Within the EAA, the Stakeholder Reporting Committee (SRC) strives to foster collaboration with standard setters and policymakers in the field of sustainability reporting. To this end, the SRC has been organizing EAA webinars, the so call “In conversations with…”, as well as symposiums at the EAA conferences, among other activities, such as writing comment letters. Within the frame of this activity, and for the first time, the SRC is inviting expressions of interest in contribution to the…
BAHA DIYAROV
BAHA DIYAROV
2 min read
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219

EAA Comment Letter in response to the PIR on IFRS 15 – Revenue from Contracts with Customers

Elisabetta Barone (Brunel University London & Cork University Business School), Stephani Mason (DePaul University), Araceli Mora (Universidad de Valencia), and David Procházka (Prague University of Economics and Business) on behalf of the Financial Reporting Standards Committee (FRSC) of the European Accounting Association sent a comment on the Post-Implementation Review on IFRS 15 Revenue from Contracts with Customers to IASB and EFRAG. The purpose of the EAA FRSC and the EAA members is to bring contributions…
ARC Commitee
ARC Commitee
3 min read
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186

One ESG metric is like squaring a circle

It appears to be extremely hard to produce  a meaningful ESG score. Standard and Poor’s recently decided that it will no longer rank companies’ environmental, social and governance risks from 1 to 5 . This decision can be understood in the light of how aggregate ESG scores are constructed as  discussed in a recent FT publication: “Companies with good ESG scores pollute as much as low-rated rivals.” This article made it clear that the current…
Jan Bouwens
Jan Bouwens
4 min read
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834

Update from the EAA Stakeholder Reporting Committee – Response to ED/2021/6 IFRS Practice Statement Management Commentary

Posted by Peter Kajüter, Joanna Krasodomska and Riccardo Stacchezzini, on behalf of the EAA Stakeholder Reporting Committee In May 2021, the IASB published the Exposure Draft (ED/2021/6) Management Commentary for open consultation. The EAA Stakeholder Reporting Committee (“the SRC”) provided feedback in two ways. First, the SRC participated in a joint IASB-EAA-EFRAG Workshop in June 2021 to discuss the proposed revision of the IFRS Practice Statement 1 Management Commentary within academia. Peter Kajüter represented the SRC…
EAA Stakeholder Reporting Committee
EAA Stakeholder Reporting Committee
3 min read
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433

Goodwill accounting – A never-ending story

A reform of goodwill accounting should make the prospects and performance of M&A deals transparent – good governance and strict enforcement are essential for this. People have always been skeptical about the asset nature of goodwill. Yet this “asset of a special kind” (Eugen Schmalenbach) is economically significant. The goodwill of E.ON, the German energy giant, for example, at €17.8 billion, exceeded equity by almost double in 2020. Since the impairment-only approach replaced amortization in…
Thorsten Sellhorn
Thorsten Sellhorn
6 min read
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744

Accounting Theory and Standard-Setting – Antecedents of Fair Value Accounting?

This blog entry arose because, coincidentally, in mid-February and March 2021  two articles appeared in Accounting History and Accounting Horizons respectively, discussing contributions to the literature of two members of the “Sydney School of Accounting”. One relates to the founder, Ray Chambers, the other to one its members, Frank Clarke. Both provide an understanding of the School’s focus, especially what is needed to reform accounting thought and practice. Reference to the Sydney School is attributed first to Murray Well’s…
Graeme Dean
Graeme Dean
5 min read
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270

Report and video: IFRS-EAA Virtual Workshop (IASB Discussion Paper “Business Combinations under Common Control”)

On 29 January 2021, the International Accounting Standards Board (IASB) in conjunction with the European Accounting Association (EAA) and the European Financial Reporting Advisory Group (EFRAG) held an IFRS-EAA Virtual Workshop that provide an overview of the IASB’s Business Combinations under Common Control (BCUCC) Discussion Paper (DP) and EFRAG’s developing views for consultation on that DP. Attended by roughly 200 participants, the workshop covered issues including: a) When to apply the acquisition method and a book-value method to a BCUCC in…
Thorsten Sellhorn
Thorsten Sellhorn
< 1 min read
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