Technical issues trending now – June 2021

In this edition

Developments within International Financial Reporting Standards (IFRS)

• Primary financial statements project – Redeliberations continue on the exposure draft: General Presentation and Disclosures that propose substantial changes to reporting financial performance

Developments within UK Accounting Standards

• FRS 101 amendments – FRS 101 amendments – 2020/21 cycle introduces disclosure exemption relating to IAS 16
• FRS 102 amendments – Application period for accounting for Covid-19-related rent concessions extended

Narrative and Front-end Reporting Developments

• Management commentary – IASB publishes proposals for a comprehensive new framework for management commentary reflecting today’s needs of investors and creditors
• UK Corporate Governance Code – FRC publishes report on workforce engagement setting out key lessons to be learnt

Mind the GAAP Blog: Latest articles

• FRS 102 Section 20 Leases – Amendments to extend the relief period for accounting for Covid-19-related rent concessions
• Primary financial statements project – Redeliberations continue (part 1)
• Hot Topic publication – Interim reporting: What does good look like? - Key highlights checklist from the FRC’s thematic review
• Primary financial statements project – Redeliberations begin by the IASB on the exposure draft: General Presentation and Disclosures that propose substantial changes to reporting financial performance
• BEIS consultation: Restoring trust in audit and corporate governance – Focusing on the proposals for corporate reporting (part 1)