SwissHoldings agrees with the Boards’ considerations to establish a common approach for the offsetting of financial assets and liabilities. As non-financial service industry preparers SwissHoldings will be less significantly affected by the proposals as financial institutions. However SwissHoldings also recognises the need to converge the accounting principles for offsetting of financial assets and liabilities and [...]
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Posted on May 8th, 2011
Posted on April 10th, 2011
SwissHoldings welcomes the Boards’ initiative to align the different proposals made by standard setters on the impairment methodology for financial instruments measured at amortised cost. As non-financial service industry preparers SwissHoldings supports the facilitation of the impairment approach for financial instruments measured at amortised cost. However, SwissHoldings is convinced that an even more [...] Posted on March 14th, 2011
According to SwissHoldings, the result of the IASB’s strong focus on convergence in its program is rather disappointing. This convergence-dominated work program has not overall produced better, more useable or more decision-useful financial reporting standards for IFRS preparers and users, and in some areas standards have even been made worse: new standards have [...] Posted on January 5th, 2011
SwissHoldings agrees that the accounting for leases requires revision as the current standard allows too many financial structuring opportunities which reduces the comparability and decision usefulness of financial statement information. Several users of financial statements already make adjustments to capitalize operating leases to improve comparability between companies. However, there is no common approach [...] Posted on November 3rd, 2010
While the ED represents some clarification compared to the Discussion Paper published in 2008, SwissHoldings believes that it still comprises too many unresolved issues concerning construction contracts, separation of performance obligations and licensing agreements and above all it does not demonstrate that the principle of control is superior to that of the risks [...] 3 pages
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