IASB requires disclosures about debt financing

The board responded to questions about changes in debt.

Amendments to IFRS require companies to provide information about changes in their financing liabilities. The changes were designed in response to requests from investors for information about changes in a company's debt.

The International Accounting Standards Board (IASB) issued the changes to IAS 7, Statement of Cash Flows. The amendments address evaluation of changes in liabilities arising from financing activities, including changes from cash flows and noncash changes such as foreign exchange gains or losses.

The changes are part of an initiative the IASB has undertaken to improve the effectiveness of disclosures in financial reports. The amendments take effect for annual periods beginning on or after Jan. 1, 2017.

SPONSORED REPORT

2019 State of Financial Reporting Survey

We surveyed nearly 600 finance and accounting professionals on their month-end close and reporting processes. See the results.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.