EFRAG’s Discussion Paper Better Information on Intangibles – Which is the best way to go?

Feb 25, 2022
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The European Financial Reporting Advisory Group (EFRAG) in conjunction with the European Accounting Association (EAA) and the International Accounting Standards Board (IASB) will hold an EAA Reporting Standards Workshop on Friday 25 February 2022 at 12:00-14:00 (CET). The workshop will provide a debate on EFRAG’s Discussion Paper Better Information on Intangibles – Which is the best way to go?. The responses to the IASB’s Third Agenda Consultation indicate that the definition, recognition, measurement and disclosures on intangibles still generate a lot of debate. EFRAG’s  Discussion Paper on Intangibles, which was published in August 2021, explores three approaches to provide better information on intangibles.

  • One approach relates to information to be provided in the financial statements by considering the recognition and measurement requirements for intangible assets.
  • The two other approaches are dealing with additional disclosures that could be provided in the notes included in the financial statements or in the management report. The two approaches consider information on:

    • specific intangibles; and/or
    • future-oriented expenses and risk/opportunity factors that may affect future performance.

At the 25 February virtual seminar, representatives of EFRAG will explain these different approaches to provide better information on intangibles. The purpose of the workshop is to obtain feedback on the matters included in EFRAG’s Discussion Paper on Better Information for Intangibles.  Initial comments will be provided by the EAA Task Force – chaired by Prof. Stefano Zambon, University of Ferrara, and vice-chaired by Prof. Jan Marton, University of Gothenburg – that is currently working on the elaboration of the EAA’s response to the EFRAG Discussion Paper in question. Prof. Ann Tarca, IASB board member, will also offer initial thoughts on EFRAG’s Discussion Paper.Thereafter all attendants of the virtual workshop are invited to provide their views and perspectives to the presenters.

EAA members and other interested accounting academics are cordially invited to attend the workshop. In particular academics are encouraged to bring to the workshop any research evidence (including non-English sources) that could be relevant in assessing the approaches proposed in EFRAG’s Discussion Paper.

If you are not available to participate, please do feel free to send such evidence to rasmus.sommer@efrag.org. The workshop will be recorded and made available on the EAA Accounting Resources Center.

Registration link

 

Organizer:
IASB-EAA-EFRAG
Event Language:
English
Type:
Virtual Event
Website:
Target Group:
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