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Hyper-inflationary economies at 31 December 2019 - PwC In brief This document presents the countries that are hyper-inflationary at 31 December 2019, and those that are not hyper-inflationary at that date but that should be kept under review in 2020.  EU endorses the IBOR amendments to IFRS 9, IAS 39 and IFRS 7 These amendments to IFRS 9, IAS 39 and IFRS 7 provide certain reliefs in connection with interest rate benchmark reform. The reliefs relate to hedge accounting and have the effect that IBOR reform should not generally cause hedge accounting to terminate. The amendments are effective 1 January 2020 - for further details of the amendments see PwC In brief INT2019-11.    EU has not yet endorsed the amendment to IFRS3, ‘Business combinations', that revises the definition of a business  The amendments to the guidance in IFRS 3, ‘Business combinations’, that revise the definition of a business, are effective for business combinations occurring in annual periods beginning on or after 1 January 2020. However, these amendments have not yet been endorsed by the EU. According to EFRAG, the European Parliament’s required scrutiny period will conclude mid-March 2020 and endorsement is predicted to follow before the end of March. One-off cash compensation on collateralised derivatives due to the transition from EONIA to €STR - PwC In brief In connection with reforms to EONIA, the rate of interest paid on the collateral on certain Euro-denominated collateralised derivatives is expected to be reduced. The effect on the fair value of outstanding derivatives will be compensated for by a one-off cash compensation payment. See this In brief for the details.     Practical insights     PwC IFRS Talks Episode 65: Alternative financing Listen to a recording of the latest podcast here.     Detailed guidance

Updates to Accounting implications of the UK’s Brexit decision - PwC In depth The existing In depth INT2018-15 dealing with the accounting implications of Brexit has been refreshed. Manual of accounting - IFRS 2020 ebook Our Manual of accounting - IFRS 2020 ebook (global edition) is now available. It is available via our publishers Lexis Nexis. IFRS News - January 2020 See the new IFRS News issue here.

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