Mr. Stefan Pärlhem (right) and myself
(picture from a previous meeting in Stockholm June 3, 2016)
Yesterday October 7, 2016, I met Mr. Stefan Pärlhem for a discussion about the present situation for a number of accounting issues, as well as some other topics.
Mr Stefan Pärlhem is the Head of Secretariat of The Swedish Accounting Standards Board (Bokföringsnämnden, BFN). Last time I met him was in June 3, 2016 (Meeting BFN).
Intensive phase for K-standards
The overall issue for BFN is of course adapting K-standards to the New Annual Accounts Act in Sweden, which is in force from January 1, 2016. BFN issued drafts in April 2016 and they have been open for opinions until August 2016. See my posts on this:
- New K-standard for SME (K2 ÅR)
- Updated K-standard for Large Enterprises (K3)
- Updated Standards for Mergers
The focus is now on processing received opinions and the goal is to adapt the updated standards in the end of November, 2016, even if an absolutely fixed timeline is not at hand yet.
We also exchanged thoughts of which other projects should be started or completed once these updates are a fact. There are a number of topics and one thing is sure, the heavy workload for BFN is here to stay!
More on the menu
A very important step is to apply the standards in everyday accounting and in financial reports. Here the Swedish BAS Chart of Accounts plays a very important role, so we discussed my experiences from recent writings of books, articles and lecture documentations. I just met Mr. Mats Brockert (Meeting BAS & Srf), so naturally we came in touch with topics from that meeting.
My feedback from meeting the staff at Wolters Kluwer, working with software development for financial reports and related areas, also attracted interest (Teaching for Wolters Kluwer Staff in Gothenburg). Close to this I also had feedback from lectures related to financial reporting, for instance a great interest for the examples of financial statements that have been produced but also the needs for them to be updated soon. One example: Teaching in Stockholm about New Annual Accounts Act.
Of course we also had to talk about what to think about the next steps for the Swedish Annual Account Act, since there is more to be processed in legislation.
This is not all, but all-in-all it was as nice as always to meet Mr. Stefan Pärlhem 🙂
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