Standards
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 ” which were inherited from the Board’s predecessor, the International Acounting Standards Committee (IASC).
New & 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 | Description | Details | Annual periods from 1 Jan 2009 | Annual periods from 1 July 2009 | |
|---|---|---|---|---|---|
| IFRS 1 | First-time Adoption of IFRS | 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 | x | ||
| IAS 23 | Borrowing Costs | 2008 Annual improvements to IFRS | x | ||
| IAS 27 | Consolidated and Separate Financial Statements | Consequential amendments from IFRS 3 (2008) | x | ||
| IAS 27 | Consolidated and Separate Financial Statements | Amendments relating to cost of an investment on relative adoption | x | ||
| IAS 27 | Consolidated and Separate Financial Statements | 2008 Annual improvements to IFRS | x | ||
| IAS 28 | Investments in Associates | Consequential amendments from 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 from IFRS 3 (2008) | x | ||
| IAS 31 | Interests in Joint Ventures | 2008 Annual improvements to IFRS | x | ||
| IAS 32 | Financial Instruments: Presentation | Amendments relating to disclosure of puttable instruments and obligations arising on liquidation 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 | 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 | ||