6 Veröffentlichungen

An dieser Stelle informieren wir Sie regelmäßig über aktuelle KPMG-Publikationen auf dem Gebiet der handelsrechtlichen und internationalen Rechnungslegung.

Rückwirkung im Handelsbilanzrecht – ABC praxisrelevanter Geschäftsvorfälle

Das Gesetz zur Umsetzung der zweiten Aktionärsrechterichtlinie (ARUG II); Der neue aktienrechtliche Vergütungsbericht: Inhalte, Prüfung und Offenlegung

Auswirkungen der EU-TaxonomieVerordnung auf die Unternehmensberichterstattung

Spielertransfers im Profifußball – Bilanzierung vom Anfang bis zum Ende der Vertragslaufzeit eines Spielers

Auswirkungen von COVID-19 auf Leasingverträge

Auswirkungen der COVID-19-Krise auf den Immobilienmarkt – Eine neue Form der Wirtschaftskrise BB 26/2020, Seite 1451

WP Praxis 8/2020, Seite 231

BB 30/2020, Seite 1643

WPg 16/2020, Seite 959

WPg 17/2020, Seite 1030

WPg 16/2020, Seite 973 Katharina Bienert, Dr. Holger Seidler

Prof. Dr. Reiner Quick, Dominik Claßen, Sebastian Hargarten

Georg Lanfermann

Damian Schröder, Volker Specht

Dr. Markus Fuchs, Volker Specht

Dr. Hans Volkert Volckens, Karolin Schriever, Christine Reitsamer

Wie sollten die Auswirkungen von COVID-19 in GuV abgebildet werden? Die COVID-19-Pandemie beeinträchtigt die finanzielle Leistungsfähigkeit vieler Unternehmen. Möglicherweise beabsichtigen Unternehmen, diese Auswirkungen durch quantitative und qualitative Informationen innerhalb oder außerhalb der IFRS-Konzernabschlüsse und IFRS-Zwischenabschlüsse hervorzuheben und zu erläutern.

Anhand ausgewählter Fragestellungen wird es erläutert, wie die Auswirkungen von COVID-19 auf das Ergebnis in der Gewinn- und Verlustrechnung dargestellt werden können.

IFRS 16 – Lease term. How long is the lease?

Rent concessions – Practical relief for lessees

Insurance Contracts –First Impressions: 2020 edition Determining the lease term is a critical estimate under IFRS 16 Leases, affecting the size of the lease liability for a lessee and the lease classification for a lessor.

Following the IFRS Interpretations Committee’s decision in December 2019, it is now clear that companies are required to consider the broader economics of the contract – not just the narrow contractual terms.

As well as practical guidance and examples showing how to determine the lease term, our publication “Lease term – How long is the lease?” discusses how to navigate the links between written contracts, laws and regulations and penalties.

Due to the impact of the COVID-19 pandemic on business conditions, many lessees are seeking rent concessions from lessors – e.g. a one-off reduction, a deferral or a change in the nature of rent.

Recent amendments to IFRS 16 Leases allow lessees not to account for eligible rent concessions as lease modifications if they arise as a direct consequence of COVID-19. This practical expedient is effective immediately.

Our “Leases – Rent concessions” publication contains practical guidance and examples illustrating how a company identifies rent concessions that qualify for the practical expedient – and how to account for them. It also discusses how both lessees and lessors account for rent concessions that are treated as lease modifications.

Implementing the new and recently updated requirements of IFRS 17 Insurance Contracts will inevitably presents challenges. For many there’s still a lot of work to do to prepare for the effective date of 1 January 2023.

Now, fully updated to reflect the revised version of IFRS 17, our “First Impressions: 2020 edition” provides our detailed analysis and insight on the amended standard, and considers how it may affect insurers’ financial statements.

Insurance – IFRS 4 amendments

IBOR reform – Approaching the end of phase two

IBOR reform – Phase 2 final amendments issued

IFRIC agenda decisions Amendments respond to industry concerns about the impact of differing effective dates.

Differing effective dates of IFRS 9 Financial Instruments and the new insurance contracts standard could have had a significant impact on insurers.

In response to concerns regarding temporary accounting mismatches and volatility, and increased costs and complexity, the International Accounting Standards Board issued amendments to IFRS 4 Insurance Contracts in 2017.

The remaining feedback on the hedge accounting amendments in the IBOR phase 2 Exposure Draft (ED) has now been analysed by the International Accounting Standards Board (the Board), and at its July meeting it completed its redeliberation process.

The final phase 2 amendments are expected to be published by the end of August with an effective date of 1 January 2021. Earlier application would be permitted.

Many companies use benchmark interest rates – e. g. in their loan instruments, lease contracts and in hedge accounting. The replacement of some of these rates with alternative benchmark rates is expected to be mostly complete by the end of 2021. To ensure that financial statements best reflect the economic effects of IBOR reform, the International Accounting Standards Board has issued amendments that focus on the accounting once a new benchmark rate is in place.

Updates to the IFRS Foundation’s standard-setting manual – the Due Process Handbook – focus on the work of the IFRS Interpretations Committee and its agenda decisions. These updates include confirming that a company is required to apply IFRS Standards reflecting the explanatory material included in agenda decisions; explaining that a company is entitled to sufficient time to consider agenda decisions and implement any necessary resulting change in accounting policy; and enhancing due process by formally involving the International Accounting Standards Board in the finalisation of agenda decisions.

The issues discussed by the Committee are significant, so the impact of the resulting accounting policy changes on a company’s financial statements could be material. Any changes may need to be made in the next financial statements (interim or annual).

COVID-19 – How is a hedge of interest rate risk impacted by a payment holiday?

Where and how should COVID-19 impacts be presented in the income statement and related notes?

COVID-19 – Accounting for provisions The impact of a payment holiday on a hedging relationship will vary depending on the nature of the payment holiday and the type of hedge. The related accounting can be complex, and there are a number of factors management needs to consider.

Read our web article for guidance on which standards to apply and when to apply them.

The COVID-19 coronavirus pandemic is affecting the financial performance of many companies. Companies may intend to highlight and explain these impacts – i. e. by including quantitative and qualitative information about them either inside or outside the financial statements.

Read our recent web article on where and how COVID-19 impacts should be presented in the income statement.

Many companies are keen to recognise the impact of COVID-19 in P&L now, but this means finding the right balance between under- and over-providing for its impacts.

In our latest podcast, Irina Ipatova and Ian Greenwood provide a reminder of what can and can't be provided for.