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From Accountingnet.ie Financial Reporting
The International Accounting Standards Board (IASB) issued today Improvements to IFRSs -a collection of amendments to twelve International Financial Reporting Standards (IFRSs) - as its latest set of annual improvements. The IASB uses the annual improvements project to make necessary, but non-urgent, amendments to IFRSs that will not be included as part of another major project. The amendments included in today’s publication reflect issues that were included in exposure drafts of proposed amendments to IFRSs published in October 2007, August 2008 and January 2009. By presenting the amendments in a single document rather than as a series of piecemeal changes the IASB aims to ease the burden of change for all concerned. Unless otherwise specified, the amendments are effective for annual periods beginning on or after 1 January 2010, although entities are permitted to adopt them earlier. During its deliberations of comments received on the exposure draft of Proposed Improvements to IFRSs published in August 2008, the IASB decided to postpone reconsideration of two issues until more analysis could be completed. Consequently, with the document published today, all the other issues included in the three exposure drafts have been finalised or removed from the IASB’s agenda. Improvements to IFRSs is available for eIFRS subscribers from today. Those wishing to subscribe to eIFRSs should visit the online shop at www.iasb.org or contact: IASC Foundation Publications Department, 30 Cannon Street, London EC4M 6XH, United Kingdom. Tel: +44 (0)20 7332 2730 Fax +44 (0)20 7332 2749 Email: publications@iasb.org Web: www.iasb.org Printed copies of Improvements to IFRSs (ISBN 978-1-907026-05-8) will be available shortly, at £15 a copy (plus shipping), from the IASC Foundation Publications Department. © Copyright 2005 by Accountingnet.ie |