Following the financial crisis, the view became widespread that IFRS, because it is based on a so-called incurred-loss approach, led to significant overstatements of financial assets by placing tight restrictions on the recognition of loan losses. As a result, the IASB undertook a project to...

Even though the IASB and the FASB avowed that they would not use the annuity method of depreciation in their leases exposure draft of May 2013, they did so anyway, and with stealth. This article discusses and illustrates the annuity method of depreciation and then critically assesses how the...