News

OIC’s comment on ED Management Commentary and on EFRAG draft endorsement advice “Limited Exemption from Comparative IFRS 7 Disclosure for First-Time Adopters”

The OIC’s comment letters are now available on: - IASB ED Management Commentary, in reply to EFRAG’s draft comment letter. The same comments have been sent to the IASB; - EFRAG’s draft endorsement advice on Amendment to IFRS 1 “First-time Adoption of IFRS: Limited Exemption from Comparative IFRS 7 Disclosure for First-Time Adopters.   Please find the documents herewith...

IASB publishes Amendment to IFRS 1 – Limited Exemption from Comparative IFRS 7 Disclosures for First-time Adopters

The IASB issued a minor amendment to IFRS 1 First-time Adoption of International Financial Reporting Standards. The effective date of the amendment Limited Exemption from Comparative IFRS 7 Disclosures for First-time Adopters (Amendment to IFRS 1) is 1 July 2010, with earlier application permitted. Please find the press release herewith...

IASB issues ED of Proposed Amendments to IAS 37

The IASB has published for public comment an exposure draft of one section of a replacement for IAS 37 Provisions, Contingent Liabilities and Contingent Assets. The section contains revised proposals for measuring liabilities within the scope of IAS 37. The exposure draft, Measurement of Liabilities in IAS 37, is open for comment until 12 April 2010. The document is available on the IASB website. Please find the...

Commission Regulation (EU) No 1293/2009 amends the IAS 32

The Commission Regulation (EU) No 1293/2009 of 23 December 2009, published in the Official Journal of the European Union L347 on 24 December 2009, amends IAS 32 Financial instruments: presentation – Classification of Rights Issues. The amendment to IAS 32 clarifies how to account for certain rights when the issued instruments are denominated in a currency other than the functional currency of the...

Draft application guidance on “I bilanci di liquidazione delle imprese IAS compliant” published for comment

The Executive Board of the OIC has published for comment the draft Application guidance “I bilanci di liquidazione delle imprese IAS compliant”. The purpose of the document is to identify the principles and basis to prepare financial statements and other financial reports in case of liquidation that are to be prepared under the civil code and the national accounting standard OIC No 5 Bilanci di...

Application IFRS No 2 “Impairment e avviamento” published

The Executive Board of the OIC published the IFRS Application No 2 “Impairment e avviamento”. This application provides some considerations and examples on how to apply IAS 36. The issues regarding the banking and insurance sectors will be dealt with separate documents, given their peculiarities in performing the impairment of...

IASB publishes the Italian version of IFRS for SMEs

The IASB has published the Italian version of the IFRS for SMEs, whose translation has been taken care of the OIC. The document is free to download for private, non commercial use on the IASB website. For more information about the project, please refer to...

OIC’s conference on “Il bilancio delle piccole e medie imprese nella prospettiva internazionale. Il principio IFRS for SMEs e l’aggiornamento delle direttive contabili”

Alla luce dei recenti sviluppi che stanno interessando i bilanci delle “Small and Medium Entities” e del dibattito che si è acceso circa la possibilità di utilizzare in ambito europeo lo specifico principio contabile internazionale che disciplina la materia in alternativa o in sostituzione delle direttive contabili, l’OIC, Organismo Italiano di Contabilità, ha organizzato il convegno “Il...