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IAS 7 (1992) Cash Flow Statements: 1 January 1994: Effective date of IAS 7 (1992) 6 September 2007: Retitled from Cash Flow Statements to Statement of Cash Flows as a consequential amendment resulting from revisions to IAS 1: 16 April 2009: IAS 7 amended by Annual Improvements to IFRSs 2009 with respect to expenditures that do not result in a ...
IFRS 7, titled Financial Instruments: Disclosures, is an International Financial Reporting Standard (IFRS) published by the International Accounting Standards Board (IASB). It requires entities to provide certain disclosures regarding financial instruments in their financial statements. [ 1 ]
IFRS 18 IAS 2: Valuation and Presentation of Inventories in the Context of the Historical Cost System (1975) Inventories (1993) 1976 January 1, 1976: IAS 3: Consolidated Financial Statements 1976 January 1, 1977: January 1, 1990: IAS 27 and IAS 28: IAS 4: Depreciation Accounting 1976 January 1, 1977: July 1, 1999: IAS 36: IAS 5
As of August 2019, profiles are completed for 166 jurisdictions, with 166 jurisdictions requiring the use of IFRS Standards. [7] Due to the difficulty of maintaining up-to-date information in individual jurisdictions, three sources of information on current worldwide IFRS adoption are recommended: IFRS Foundation profiles page [7] The World ...
The amendments were controversial for setting out rules on how entities would account for legal cases in their financial statements; it would require firms to recognize the contingent liability as a weighted average of the possible outcomes of a legal case. [7]
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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).
Joint ventures: IFRS 11 Joint Arrangements was issued in 2011. Income tax: A joint exposure draft was published in 2009. [13] An update to the memorandum of understanding in 2008 introduced long-term convergence projects, including the following. Derecognition: both boards issued amendments to their accounting standards.