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15 09 2015
This update covers: Recent amendments to IFRS for SMEs, the discussions held at the IFRIC (International Financial Reporting Interpretations Committee) meeting held in May 2015 as well as the Financial Instruments 2015 Guide released by the IFRS Foundation.
02 03 2015
The International Accounting Standards Board (IASB) has issued a new standard, IFRS 15 Revenue from Contracts with Customers on 28 May 2014 which replaces IAS 18 Revenue, IAS 11 Construction contracts and related Interpretations.
27 05 2014
The International Accounting Standards Board (IASB) has been focused on a few major projects over the past year of which we are likely to see some results in 2014. The IASB released an updated work plan at the end of April 2014.
22 01 2014
The following is a summary of new standards and pronouncements that are in issue and expected to be effective in the 2013 sets of financial statements of entities or thereafter. Preparers should take note of these amendments during the preparation of their annual financial statements or when planning forthcoming data capturing requirements
03 09 2013
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have formally announced plans to create a group dealing with the final converged standard on revenue recognition,which is due to be released later this year.
22 02 2013
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors requires that when an entity has notapplied a new Standard or Interpretation that has been issued but is not yet effective, the entity shall disclose certain facts.
09 11 2012
There are a number of amendments to IFRSs that become effective or are available for early adoption for financial statements for years ending 31 December 2012. This update provides an overview of these amendments.
07 09 2012
On the 28th June 2012 the International Accounting Standards Board (IASB) issued amendments to IFRS 10 Consolidated Financial Statements (IFRS 10), IFRS 11 Joint Arrangements (IFRS 11) and IFRS 12 Disclosure of Interests in Other Entities (IFRS 12).
The amendments change the transition guidance to provide further relief from full retrospective application.
06 08 2012
Incorporates activities and tentative decisions made up to 30 June 2012 made by the FASB & IASB on current joint projects.
26 07 2012
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) (collectively, the Boards) issued a revised Exposure Draft (ED) Revenue from contracts with customers (“the 2011 ED”) in November 2011. The Boards had previously issued an ED on revenue recognition in 2010 (“the 2010 ED”) but following some critical responses, extensive outreach activities and its own re-deliberations the Boards have revised some of their original proposals.
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