IFRS Consultants

Standards

CONTENTS

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