Search results
Results from the WOW.Com Content Network
This is a list of the International Financial Reporting Standards (IFRSs) and official interpretations, as set out by the IFRS Foundation. It includes accounting standards either developed or adopted by the International Accounting Standards Board (IASB), the standard-setting body of the IFRS Foundation.
This can include, but is not limited to, customer relationships, technology, order backlog, brand, favourable- or unfavourable contracts, investments in associates. IFRS 3 also provide guidance for leases acquired in a business combination, where the lease liability should be remeasured at the acquisition date.
IFRS 1; IFRS 2; IFRS 4; IFRS 5; IFRS 7; IFRS 9; IFRS 10; IFRS 10, 11 and 12; IFRS 11; IFRS 12; IFRS 13; IFRS 15; IFRS 16; IFRS 17; IFRS Foundation; International Public Sector Accounting Standards; International Sustainability Standards Board
International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). [1] They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and ...
In the United Kingdom, the IFRS was adopted beginning 2005, and, as of 2011, public companies are required to use the IFRS for their consolidated accounts. Other companies are also allowed to use the IFRS, but most have chosen not to do so, and continue to use the UK accounting standards largely developed prior to 2005.
Under the new terminology, IFRS consist of the combination of accounting standards issued by the IASB and of sustainability-related standards issued by the ISSB. The former are still labeled IFRS (or IAS for those issued before 2001), and the latter are labeled IFRS-S (with the last "S" for Sustainability).
In 2008, the Securities and Exchange Commission issued a preliminary "roadmap" that indicated it was considering whether to adopt or allow domestic issuers to use IFRS instead of U.S. GAAP. [16] In 2010, the SEC expressed their aim to fully adopt International Financial Reporting Standards in the U.S. by 2014. [17]
A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are coded by ...