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IFRS

Financial reporting changes in phase 2 of the interest rate benchmark reform

On 9 April 2020 the International Accounting Standards Board published an Exposure Draft, Interest Rate Benchmark Reform – Phase 2, Proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16. Click to read the key proposals in the exposure draft.

COVID-19 Related Rent Concessions

Download the latest guidance on how to treat rent related concessions following the recent amendment to IFRS16 in the wake of COVID-19.

Commentary on changes to IFRS3

The IASB has introduced some changes to IFRS 3 ‘Business Combinations’ which apply for accounting periods beginning on or after 1 January 2020.

IFRS and its impact on Lessees

The International Accounting Standards Board (IASB) issued IFRS 16 Leases on 13 January 2016. Revising the lease accounting requirements was first added to the IASB’s agenda in 2006. Since then, several exposure drafts have been issued and hotly debated. Now that IFRS 16 has been released, our team looks at the key implications for leases and lessees.  

Sale and leaseback transactions and IFRS 16 implications

The turmoil in the shipping and financial markets since 2008 has resulted in a significant decrease in funds available for borrowing and has led shipping companies to seek alternative methods of financing for the acquisition of vessels such as the sale and leaseback option. With the adoption of IFRS 16 from 1 January 2019, Panos Drakoulakos details how this will impact sale and lease backs as an alternative financing method.