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U.S. and International Accounting: Understanding the Differences
This edition provides clear and simple examples of the key differences between United States and international accounting standards. The authors demonstrate the variance in accounting rules with illustrations drawn directly from actual corporate balance sheets. |
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IFRS Accounting Trends & Techniques – Global Edition
The Global Edition presents carefully selected reporting examples from the audited annual reports of 170 international public companies across 43 industries and 38 countries to illustrate current reporting techniques and various presentation and disclosure practices. |
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IFRS COMPASS: IT Systems Implications
IT systems issues generated by the IFRS convergence need to be addressed now in order to have the necessary programming and systems in place to meet the requirements of the standards. This book provides a guideline to navigate the intricacies of successful IT systems implementation. |
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IFRS Policies and Procedures
With all current IAS, IFRS, SIC and IFRIC guidance addressed in depth, IFRS Policies and Procedures will assist you with timely coverage on all aspects of annual and interim financial reporting. |
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IFRS Primer for Audit Committees
Audit committees should anticipate possible significant change and inquire of the CEO and CFO as to the readiness of the company, and their implementation plan for moving to IFRS if or when required. |
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Financial System Considerations in IFRS Convergence Projects
Prepared by the IT Section of the AICPA, this white paper explores information technology implications of an IFRS conversion, including the impact on financial and business reporting, implementation considerations and lessons learned from the European experience. |
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The FASB/IASB Revenue Recognition Project
On November 14, 2011, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board published for public comment a revised joint exposure draft (ED), Revenue from Contracts with Customers. Comments on the revised ED are due by March 13, 2012, and the boards hope to issue a final standard later in 2012. (AICPA Brief)
The FASB/IASB Lease Accounting Project
On July 21, the International Accounting Standards Board and the Financial Accounting Standards Board
announced their intention to re-expose their revised proposals for a common leasing standard after their deliberations during third quarter of 2011.
FASB Financial Instruments Project: An Update
On May 26, 2010, the Financial Accounting Standards Board issued an exposure draft of
proposed Accounting for Financial Instruments and Revisions to Accounting for Derivative Instruments and Hedging Activities‐Financial Instruments.
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IFRS Technical Summaries
The International Accounting Standards Board publishes technical summaries of its International Financial Reporting Standards. Copies of the technical summaries can be found in this section. |
International Financial Reporting Standards
International Financial Reporting Standards are developed by the International Accounting Standards Board. The following is a list of the standards that were issued at January 1, 2011. Also provided is a link to the consolidated unaccompanied IFRSs (i.e. the core standards, without implementation guidance and the basis for conclusions) in English and the IFRS for SMEs. "
International Financial Reporting Standards
International Financial Reporting Standards are developed by the International Accounting Standards Board. Access to IFRS technical summaries and unaccompanied standards (the core standards, excluding content such as basis for conclusions) is available for free from the IASB website. An electronic online subscription service ("eIFRS"), the annual IFRS Bound Volume, and other IFRS products and services can be purchased from the International Accounting Standards Committee Foundation. To learn more, click on the link above.
The official annual bound edition of International Financial Reporting Standards issued by the IASB is also available for purchase from the Financial Accounting Foundation for customers in the United States, Canada, and Mexico. You can order online at the FASB website.
Following is a list of the standards as issued at January 1, 2010: |
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IFRS
- IFRS 1: First-time Adoption of International Financial Reporting Standards
- IFRS 2: Share-based Payment
- IFRS 3: Business Combinations
- IFRS 4: Insurance Contracts
- IFRS 5: Non-current Assets Held for Sale and Discontinued Operations
- IFRS 6: Exploration for and Evaluation of Mineral Assets
- IFRS 7: Financial Instruments: Disclosures
- IFRS 8: Operating Segments
- IFRS 9: Financial Instruments
IAS
- IAS 1: Presentation of Financial Statements
- IAS 2: Inventories
- IAS 7: Statement of Cash Flows
- IAS 8: Accounting Policies, Changes in Accounting Estimates and Errors
- IAS 10: Events After the Reporting Period
- IAS 11: Construction Contracts
- IAS 12: Income Taxes
- IAS 16: Property, Plant and Equipment
- IAS 17: Leases
- IAS 18: Revenue
- IAS 19: Employee Benefits
- IAS 20: Accounting for Government Grants and Disclosure of Government Assistance
- IAS 21: The Effects of Changes in Foreign Exchange Rates
- IAA 23: Borrowing Costs
- IAS 24: Related Party Disclosures
- IAS 26: Accounting and Reporting by Retirement Benefit Plans
- IAS 27: Consolidated and Separate Financial Statements
- IAS 28: Investments in Associates
- IAS 29: Service Concession Arrangements: Disclosures
- IAS 31: Interests In Joint Ventures
- IAS 32: Financial Instruments: Presentation
- IAS 33: Earnings Per Share
- IAS 34: Interim Financial Reporting
- IAS 36: Impairment of Assets
- IAS 37: Provisions, Contingent Liabilities and Contingent Assets
- IAS 38: Intangible Assets
- IAS 39: Financial Instruments: Recognition and Measurement
- IAS 40: Investment Property
- IAS 41: Agriculture
IFRIC
- IFRIC 1: Changes in Existing Decommissioning, Restoration and Similar Liabilities
- IFRIC 2: Members' Shares in Co-operative Entities and Similar Instruments
- IFRIC 4: Determining Whether an Arrangement Contains a Lease
- IFRIC 5: Rights to Interests Arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
- IFRIC 6: Liabilities Arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment
- IFRIC 7: Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies
- IFRIC 9: Reassessment of Embedded Derivatives
- IFRIC 10: Interim Financial Reporting and Impairment
- IFRIC 12: Service Concession Arrangements
- IFRIC 13: Customer Loyalty Programmes
- IFRIC 14: IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction
- IFRIC 15: Agreements for the Construction of Real Estate
- IFRIC 16: Hedges of a Net Investment in a Foreign Operation
- IFRIC 17: Distributions of Non-cash Assets to Owners
- IFRIC 18: Transfers of Assets from Customers
- IFRIC 19: Extinguishing Financial Liabilities with Equity Instruments
SIC
- SIC 7: Introduction of the Euro
- SIC 10: Government Assistance – No Specific Relation to Operating Activities
- SIC 12: Consolidation – Special Purpose Entities
- SIC 13: Jointly Controlled Entities – Non-Monetary Contributions by Venturers
- SIC 15: Operating Leases – Incentives
- SIC 21: Income Taxes – Recovery of Revalued Non-Depreciable Assets
- SIC 25: Income Taxes – Changes in the Tax Status of an Enterprise or its Shareholders
- SIC 27: Evaluating the Substance of Transactions in the Legal Form of a Lease
- SIC 29: Disclosure – Service Concession Arrangements
- SIC 31: Revenue – Barter Transactions Involving Advertising Services
- SIC 32: Intangible Assets – Web Site Costs
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IFRS for Small and Medium-sized Entities
This self-contained standard is designed to meet the needs and capabilities of small and medium-sized entities, which are estimated to account for over 95% of all companies around the world. Access the standard, basis for conclusions, illustrative financial statements presentation and disclosure checklist can be accessed here.
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IASB Podcast Summaries
The IASB provides audio summaries of Board meetings, project updates and other useful information. These provide a high-level overview of the topic and are designed to be listened to on a computer or downloaded to a digital media player.
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Investor Perspectives
IASB offers regular updates for investment professionals written by former analysts who are now IASB members, and investor alerts to other items that are likely to be of interest and will be a channel for gathering feedback.
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