Top 10 Accounting and Audit Headlines from Offshore A discussion on the proposed IASB model, an entity should recognise an impairment loss equal to the 12-month expected credit loss. Many funds and similar entities will be exempted from consolidating controlled investees under amendments to IFRS 10 ‘Consolidated financial statements’. On 12 July 2012, the Companies Bill was passed by the Legislative Council marking a significant milestone in the development of Hong Kong’s company law. A discussion on the importance of good corporate reporting. Illustrative corporate consolidated financial statements 2012 provides a realistic set of financial statements for a corporate entity, based on the requirements of IFRS standards and interpretations for financial years beginning on or after 1 January 2012. When determining the value of a business, an assessment must be made as to whether the premise of value should be based on a going concern approach or a liquidation approach. As your business reflects on both the changing shape of the Solvency II timetable and the eventual move to a new IFRS standard for insurance contracts, how can a durable platform for regulatory and financial reporting in the future? An insight on the reporting requirements as at 31 December 2012. "FOR SALE - Liquor License (Santa Cruz), $20,000". This is easily the kind of classified ad one may find in any local newspaper in Costa Rica. With European governments needing to increase their tax collection, the Organisation for Economic Co-operation and development and other organisations are looking to standardise the reporting and filing of annual financial statements for companies across the world. | 
