Q1 2018 Interim report market watch
IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers have come into effect on 1 January 2018. As a follow up to our 2017 Annual report market watch, in this article, we focus on disclosures made by companies in their Q1 2018 interim financial statements in accordance with IAS 34.
As there is little guidance on the extent of disclosures required by IAS 34 Interim Financial Reporting in respect of newly effective accounting standards, the purpose of this article was to identify the general consensus.
Our analysis focused on how reporters dealt with:
We also looked at a number of US GAAP reporters to draw parallel with disclosures made in relation to the new revenue standard.