Accounting Matters Embark

Your trusty AM Now hosts Adam Olsen and Matt Fisser are at it again, bringing you the accounting and finance stories you need to know, including:

The SEC’s statement on IFRS 19 reducing disclosures for certain subsidiaries and the impact on SEC filings, including any additional disclosures likely required.The SEC provided relief to BF Borgers clients with additional time to hire a new public accountant and file quarterly and transition reports on their Form 10-Q given certain requirements.The IFRS Foundation’s updated guide on getting started on implementing the Integrated Reporting Framework and how to take account of the IFRS Sustainability Disclosure Standards.New ESMA guidelines on using ESG and sustainability-related terms in investment fund names.EFRAG’s compilation of 68 unique explanations to respond to various stakeholders’ technical questions on ESRS application required under the CSRD.
For more on this week’s topics:
Statement on the Application of IFRS 19, Subsidiaries without Public Accountability: Disclosures, in Filings with the SEC
Securities Exchange Act of 1934, Release No. 34-100185 (BF Borgers)
IFRS Foundation: Transition to integrated reporting
ESMA Guidelines establish harmonised criteria for use of ESG and sustainability terms in fund names
EFRAG Releases New ESRS Q And A Technical Explanations

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AM Now hosts Adam Olsen and Nicole Harger are back in the saddle, delivering this week’s most important accounting and finance stories, including:

The FTC’s recent ruling essentially banning the use of non-compete agreements in nearly all instancesThe FASB discussion on disaggregating income statement expenses, its ASC 606 post-implementation review, and feedback on financial statement measurementIFRS 19—another new accounting standard from the IASBThe SEC’s action against audit firm BF Borgers for deliberately and systematically failing to meet PCAOB audit and review standardsTwo new research projects added to the ISSB’s list of priorities
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For more on this week’s topics:
FTC Announces Rule Banning Noncompetes
FASB: Tentative Board Decisions 05-08-24
ISSB Explores Developing New Disclosure Standards for Biodiversity, Human Capital
IASB simplifies financial reporting for eligible subsidiary companies with new IFRS Accounting Standard
SEC: Staff Statement on Issuer Disclosure and Reporting Obligations in Light of Rule 102(e) Order against BF Borgers CPA PC
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Join us on Accounting Matters for a conversation about the intricacies of accounting for crypto assets under the latest guidance from the Financial Accounting Standards Board, ASU 2023-08.
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As always, your AM Now hosts Adam Olsen and Matt Fisser are here to deliver the recent accounting and finance stories you need to hear, including:

A quick discussion on the hot-off-the-presses IFRS 18, Presentation and Disclosure of Financial Statements.The CSDDD was voted into adoption and will become law this year. Finally.A new guide from the IFRS Foundation and EFRAG to help companies navigate the new sustainability requirements.The FASB Private Company Council’s decision to pursue improvements to ASC 350-40, Internal-Use Software.
Want to know the SEC’s final climate-related disclosure rules better? This webinar is for you:Meet the SEC’s Final Climate-Related Disclosure Rules

For more this week’s topics:
IFRS 18 will improve communication in financial statements
European Commission: Corporate sustainability due diligence
IFRS Foundation and EFRAG publish interoperability guidance
PCC Meeting Recap: 4/18/2024

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Your trusty AM Now hosts Adam Olsen and Nicole Harger return with another batch of essential accounting and finance stories, including:

Update on FASB’s discussion on accounting for government grantsAnother update from FASB, this time on ASC 815—Derivatives and HedgingFASB’s redeliberations on the Interim Reporting (Topic 270) ASUThe SEC’s adoption of amendments to a rule under the Investment Advisers Act of 1940The European Council’s official adoption of the revised Energy Performance of Buildings Directive (EPBD)
For insights, tips, and a handy cash flow model template from Embark’s team of gurus:13-Week Cash Flow Forecast Model Template

For more this week’s topics:
FASB—Accounting for Government Grants
FASB—Tentative Board Decisions, Topic 815 & Interim Reporting (4/10/24)
Exemption for Certain Investment Advisers Operating Through the Internet
Questions and Answers on the revised Energy Performance of Buildings Directive

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You’ve read the headlines. Perused the articles. Maybe even had a convo or two on the topic. But now it’s time to get to the ESRS nitty gritty with your trusted Accounting Matters embarkers. So get comfy with Nicole Harger, Adam Olsen, and Robby Sunberg for this first half of a two-fer on all things CSRD and ESRS. You, your sustainability reporting, and stakeholders won’t be sorry.

For more information on CSRD, ESRS, and related topics:

The ESRS Skinny: What the European Sustainability Reporting Standards Mean for You
The EU CSRD: Why US Companies Should Care about European ESG Reporting Regulations
SB 253 and SB 261: A Look at California's Landmark Climate Reporting Bills

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