Beyond the GAAP newsletters

Accounting standards and practices, updated monthly

At Mazars, we believe in keeping you posted with interesting and relevant updates that add value to your business.

Discover the latest information you need to know about industry practices from the world of accounting and audits.

Beyond the GAAP no.156 - June 2021

Doctr'in 1600 per 500.jpg
At the end of June, Hans Hoogervorst, Chair of the International Accounting Standards Board, has stepped down after a 10-year tenure. Andreas Barckow, who has previously served on several IFRS Foundation advisory bodies, has taken over for a first mandate as head of the IASB as of 1 July.

Read more

Beyond the GAAP no.155 - May 2021

Doctr'in 1600 per 500.jpg
As is now traditional at this time of year, this issue of Beyond the GAAP presents a rundown of the new standards that are mandatory or permitted at the 30 June 2021 half-yearly closing.

Read more

Beyond the GAAP no.154 - April 2021

Doctr'in 1600 per 500.jpg
In its final report on the “fitness check” on the EU framework for public reporting by companies, which began in 2018, the European Commission has concluded that IFRSs ensure high-quality financial information and comparability of financial statements. However, the findings on non-financial reporting were less encouraging, despite some progress thanks to the Non-Financial Reporting Directive (NFRD).

Read more

Beyond the GAAP no.153 - March 2021

Doctr'in 1600 per 500.jpg
Here we are in March again with something of a feeling of déjà vu, and it is unfortunately still difficult to estimate the full extent of the pandemic’s impact on companies’ financial performance.

Read more

Beyond the GAAP no.152 - February 2021

Doctr'in 1600 per 500.jpg
A major development this month is the publication of a proposed amendment to IFRS 16 in the light of the ongoing public health crisis: the practical expedient that was rushed through by the IASB last spring may now be applied to rent concessions granted up to 30 June 2022, rather than 30 June 2021.

Read more

Beyond the GAAP no.151 - January 2021

2021 opens with a relatively stable IFRS framework in which to prepare the consolidated financial statements for this financial year, given the limited number and scope of the standards coming into force on 1 January.

Read more

Beyond the GAAP no.150 - December 2020

As we move into the new year, the Beyond the GAAP editorial team would like to wish you all the best for 2021: here’s hoping that the health crisis will soon be over...

Read more

Beyond the GAAP no.149 - November 2020

Doctr'in 1600 per 500.jpg
While 2020 has required a lot of work on the accounting impacts of the public health crisis, it should also be noted that most companies are now done with the upheaval resulting from the implementation of new standards (although IFRS 16 remains an enforcement priority at 31 December).

Read more

Beyond the GAAP no.148 - October 2020

Doctr'in 1600 per 500.jpg
Since the beginning, our mission for Beyond the GAAP has been to keep you informed of accounting developments and to provide clarification and insight, in an environment where changes to accounting frameworks and regulators’ activities require constant vigilance from businesses and their auditors.

The launch of our new brand provides an opportunity for us to renew our commitment to this mission, as we present the new visual identity for Mazars and Beyond the GAAP. We are proud of our wide readership and will continue to apply our expertise and analysis to shed light on accounting news.

Read more

Beyond the GAAP no.147 - September 2020

Doctr'in 1600 per 500.jpg
Now that the pace of accounting standardisation has slowed down a little, and pending the IASB’s feedback (expected by the end of the year) on the 200-odd comment letters received in response to the exposure draft on the presentation of financial statements, this month’s edition of Beyond the GAAP turns to news about the non-financial reporting in relation with environmental, social and governance indicators (ESG).

The underlying trend observed for several months (indeed, years) towards a growing overlap between financial and non-financial reporting seems even more pressing at a time when the European Union has shifted up a gear in its approach to the standardisation of non-financial reporting by involving EFRAG, the European Financial Reporting Advisory Group.

Read more

Beyond the GAAP no.146 - July & August 2020

Doctr'in 1600 per 500.jpg
Unsurprisingly, the financial statements at 30 June 2020 that have been published to date reflect the significant impact of the COVID-19 crisis on companies’ financial positions. Given that the outlook for the second half of 2020 is still uncertain in many cases, issuers in particular will (unfortunately) need to draw once again on the guidance from standard-setters, regulators and the accounting profession issued to deal with the consequences of the crisis on the financial information.

Read more

Beyond the GAAP no.145 - June 2020

Doctr'in 1600 per 500.jpg
In contrast to the three previous issues, Beyond the GAAP is back to its traditional format this month, with no COVID-19 supplement. Things are getting back to normal as regards accountancy news, although it is expected that further statements will be published locally for instance on the consequences of the crisis on accounting for State-guaranteed loans in France.

Read more

Beyond the GAAP no.144 - May 2020

Doctr'in 1600 per 500.jpg
There is no doubt that the preparation of the 2020 interim accounts will be particularly difficult this year. Properly reflecting the impact of the COVID-19 crisis in the financial statements is certain to be the main subject of concern. Once again, this month’s COVID-19 supplement summarises the current issues to be taken into account, in particular the ESMA press release for listed entities.

Read more

Beyond the GAAP no.140 - January 2020

Doctr'in 1600 per 500.jpg
The year 2019 drew to a close with the publication of an exposure draft proposing significant changes to the presentation of IFRS financial statements, particularly the statement of comprehensive income. Consultations will continue in the new year, with many projects listed in the IASB’s work plan.

For example, in March, the IASB is expected to publish a Discussion Paper on goodwill and impairment. While the IASB is unlikely to propose the reintroduction of amortisation of goodwill, it is expected to make proposals aimed at improving disclosures in the notes and reducing the cost of impairment testing.

Read more

Beyond the GAAP no.141 - February 2020

Doctr'in 1600 per 500.jpg
Following the announcement of the first results for 2019 in February, companies that have not yet closed their accounts need to consider the potential implications of the current coronavirus epidemic for the disclosures required in the notes on events after the reporting period in accordance with IAS 10, as some market regulators have just recalled.

Read more

Accounting Standards March Covid edition

Doctr'in 1600 per 500.jpg
20/04/2020 Our last editorial touched, without wanting to believe it, on the wide repercussions we could expect from the coronavirus outbreak.

A few days later, with half the world’s population now under lock-down (whether enforced or encouraged), this month’s news has necessarily taken on a distinct flavour all its own. This is why we have produced a ‘COVID-19 supplement’ to examine the impacts of the crisis on 2019 reporting (for those entities still concerned!), and on the annual reporting that does not coincide with the calendar year and on the 2020 interim accounts.

Read more

Beyond the GAAP no.143 - April 2020

Doctr'in 1600 per 500.jpg
As the COVID-19 epidemic continues to disrupt business, with significant impacts expected on 2020 financial statements, various stakeholders (most especially standard-setters) are working hard to respond to this unprecedented crisis (cf. issue no. 2 of our COVID-19 supplement).

Read more