What is latest version of IFRS?
The final version of IFRS 9 “Financial Instruments” issued in July 2014 is the IASB’s replacement of IAS 39 “Financial Instruments: Recognition and Measurement”. The Standard includes requirements for recognition and measurement, impairment, derecognition and general hedge accounting.
What is IFRS list out the IFRS?
The International Financial Reporting Standards (IFRS) are accounting standards that are issued by the International Accounting Standards Board (IASB) with the objective of providing a common accounting language to increase transparency in the presentation of financial information.
What IFRS 14?
IFRS 14 prescribes special accounting for the effects of rate regulation. Rate regulation is a legal framework for establishing the prices that a public utility or similar entity can charge to customers for regulated goods or services. Rate regulation can create a regulatory deferral account balance.
What is the current accounting standard?
The Indian Accounting Standard 11 prescribes the accounting treatment of the revenues and costs associated with construction contracts. Know more about the accounting standard here. Indian Accounting standard 8 is intended to enhance the reliability and relevance of an organization’s financial statements.
What IFRS 13?
IFRS 13 is a new standard that defines fair value, sets out in a single IFRS a framework for measuring fair value and requires disclosures about fair value measurements. IFRS 13 does not determine when an asset, a liability or an entity’s own equity instrument is measured at fair value.
When do the new IFRS standards come out?
IFRS® Standards Issued at 1 January 2020 This is the official printed edition of the authoritative pronouncements of the International Accounting Standards Board as issued at 1 January 2020. New in this edition: Interest Rate Benchmak Reform, which amends IFRS 9, IAS 39 and IFRS 7.
What are the parts of the IFRS report?
This edition is presented in three volume parts: Part A (Issued Standards) contains the IFRS® Standards, including IAS® Standards, IFRIC® Interpretations and SIC® Interpretations, together with the 2018 Conceptual Framework for Financial Reporting.
Which is the best publication for insights into IFRS?
Insights into IFRS – our flagship publication – can help. Drawing on real-life queries, it provides up-to-date guidance on emerging issues. It’s available in print and as an e-book on ProView TM.
Is the IFRS Red Book available for free?
The IFRS Foundation provides free access (through Basic registration) to the PDF files of the current year’s consolidated IFRS ® Standards (Part A of the Issued Standards—the Red Book), the Conceptual Framework for Financial Reporting and IFRS Practice Statements, as well as available translations of Standards.
