GAA Accounting

The Journal of the Global Accounting Alliance

06/12/2016
by GAA Accounting
Comments Off on What to expect from the forthcoming Insurance Contracts standard

What to expect from the forthcoming Insurance Contracts standard

After 20 years in the making, we are seeing heightened anticipation for the forthcoming Insurance Contracts standard. What does the new standard mean for us? This article outlines the background of the standard.

18/08/2016
by GAA Accounting
Comments Off on HKFRS 9 and the impact on classification and measurement for financial assets

HKFRS 9 and the impact on classification and measurement for financial assets

At first glance, the new classification and measurement requirements in HKFRS 9 Financial Instruments (equivalent to IFRS 9 of the same title) may not seem very different from what we have today. In fact, the new requirements (to supersede HKAS … Continue reading

18/08/2016
by GAA Accounting
Comments Off on HKFRS 15 and its impact on real estate developers

HKFRS 15 and its impact on real estate developers

How to account for sales incentives and selling costs incurred on real estate apartment sales contracts. Introduction The Institute published an article in A Plus August 2015 issue, the first in a series of articles, which discusses the impact of … Continue reading

16/06/2016
by GAA Accounting
Comments Off on The future landscape of financial reporting disclosure

The future landscape of financial reporting disclosure

The International Accounting Standards Board’s Disclosure Initiative explores how disclosures in financial reporting can be improved. The Disclosure Initiative is made up of a number of implementation and research projects which, collectively, will ultimately have a universal impact on the … Continue reading

18/04/2016
by GAA Accounting
Comments Off on A new life on leases

A new life on leases

By George W. Russell Implementation of IFRS 16 Leases will have a dramatic impact on Hong Kong’s extensive property, shipping and aviation businesses, as well as increase balance-sheet transparency for investors, as George W. Russell reports. For many Hong Kong … Continue reading

18/04/2016
by GAA Accounting
Comments Off on The intricacies of implementing the new leases standard

The intricacies of implementing the new leases standard

The new leases standard, IFRS 16 Leases, was issued by the International Accounting Standards Board in January and is effective for annual periods beginning on or after 1 January 2019. IFRS 16 supersedes IAS 17 Leases on its effective date. … Continue reading