About UsSERVICESIFRS TrainingTestimonialsNewsStandardsContactNewsletterPartnersBlog

IFRS is the generic term referring to all standards promulgated by the International Accounting Standards Board (IASB). They include those standards with the term "IFRS" included in their names, as well as those standards named "IAS #" whiach were inherited from the Board's predecessor, the International Acounting Standards Committee (IASC).

New and Revised IFRS effective 2009


In addition to the standards presented below, there are also a number of new and revised Interpretations (IFRICs & SICs) which are effective from 2009.

Some standards appear more than once since there was more than one recent revision.
 

Standard

Details

Annual periods beginning on or after 1 January 2009

Annual periods beginning on or after 1 July 2009

IFRS 1

First-time Adoption of International Financial Reporting Standards

Amendment relating to cost of an investment on first-time adoption

x


IFRS 2

Share-based Payment

Amendment relating to vesting conditions and cancellations

x


IFRS 3

Business Combinations

Comprehensive revision on applying the acquisition method


x

IFRS 5

Non-current Assets Held for Sale and Discontinued Operations

2008 Annual improvements to IFRS


x

IFRS 8

Operating Segments

Issued 2006

x


IAS 1

Presentation of Financial Statements 

Comprehensive revision including requiring a statement of comprehensive income 2007

x


IAS 1

Presentation of Financial Statements

Amendments relating to disclosure of puttable instruments and obligations arising on liquidation  2008

x


IAS 1

Presentation of Financial Statements

2008 Annual improvements to IFRSs

x


IAS 16

Property, Plant and Equipment

2008 Annual improvements to IFRS

x


IAS 19

Employee Benefits

2008 Annual improvements to IFRS

x


IAS 20

Government Grants and Disclosure of Government Assistance

2008 Annual improvements to IFRS

x


IAS 23

Borrowing Costs

Comprehensive revision to prohibit immediate expensing 2007

Borrowing costs relating to qualifying assets for which the commencement date for capitalisation is on or after 1 January 2009


IAS 23

Borrowing Costs

2008 Annual improvements to IFRS

x


IAS 27

Consolidated and Separate Financial Statements

Consequential amendments arising from amendments to IFRS 3  (2008)


x

IAS 27

Consolidated and Separate Financial Statements

Amendment relating to cost of an investment on first-time adoption Revised 2008

x


IAS 27

Consolidated and Separate Financial Statements

2008 Annual improvements to IFRS

x


IAS 28

Investments in Associates

Consequential amendments arising from amendments to IFRS 3  (2008)


x

IAS 28

Investments in Associates

2008 Annual improvements to IFRS

x


IAS 29

Financial Reporting in Hyperinflationary Economies

2008 Annual improvements to IFRS

x


IAS 31

Interests in Joint Ventures

Consequential amendments arising from amendments to IFRS 3  (2008)


x

IAS 31

Interests in Joint Ventures

2008 Annual improvements to IFRS

x


IAS 32

Financial Instruments: Presentation

Consequential amendments arising from amendments to IFRS 3  (2008)

x


IAS 36

Impairment of Assets

2008 Annual improvements to IFRS

x


IAS 38

Intangible Assets

2008 Annual improvements to IFRS

x


IAS 39

Financial Instruments: Recognition and Measurement 

2008 Annual improvements to IFRS

x


IAS 39

Financial Instruments: Recognition and Measurement 

Amendments for eligible hedged items July 2008


x

IAS 40

Investment Property 

2008 Annual improvements to IFRS

x


IAS 41

Agriculture

2008 Annual improvements to IFRS

x




 

Back to Top

IFRS Currently in Issue

The hypertext links below take you to the official summaries of the standards as they appear on the IASB's website. Please note that these standards are to be read in conjunction with relevant Interpretations (IFRICs & SICs).


Framework - Technical Summary

IFRS 1 First-time Adoption of International Financial Reporting Standards

IFRS 2 Share-based Payment

IFRS 3 Business Combinations

IFRS 4 Insurance Contracts

IFRS 5 Non-current Assets Held for Sale and Discontinued Operations

IFRS 6 Exploration for and evaluation of Mineral Resources

IFRS 7 Financial Instruments: Disclosures

IFRS 8 Operating Segments

IAS 1 Presentation of Financial Statements

IAS 2 Inventories

IAS 7 Cash Flow Statements

IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors

IAS 10 Events After the Balance Sheet Date

IAS 11 Construction Contracts

IAS 12 Income Taxes

IAS 16 Property, Plant and Equipment

IAS 17 Leases

IAS 18 Revenue

IAS 19 Employee Benefits

IAS 20 Accounting for Government Grants and Disclosure of Government Assistance

IAS 21 The Effects of Changes in Foreign Exchange Rates

IAS 23 Borrowing Costs

IAS 24 Related Party Disclosures

IAS 26 Accounting and Reporting by Retirement Benefit Plans

IAS 27 Consolidated and Separate Financial Statements

IAS 28 Investments in Associates

IAS 29 Financial Reporting in Hyperinflationary Economies

IAS 31 Interests in Joint Ventures

IAS 32 Financial Instruments: Presentation

IAS 33 Earnings per Share

IAS 34 Interim Financial Reporting

IAS 36 Impairment of Assets

IAS 37 Provisions, Contingent Liabilities and Contingent Assets

IAS 38 Intangible Assets

IAS 39 Financial Instruments: Recognition and Measurement

IAS 40 Investment Property

IAS 41 Agriculture

Back to Top

 
 
 

 

 

web counter