International Financial Reporting Standards
- IFRS 1 Adoption of International financial reporting standards – Outlines the procedures that have to be followed when adopting IFRSs for the first-time.
- IFRS 2 Share-based Payments– Requires company’s to state share-based payment transactions in the financial statements including other transactions such as employees or other parties.
- IFRS 4 Insurance Contracts- Outlines the accounting treatment for all insurance contracts such as reinsurance contracts.
- IFRS 5 Non-current Assets Held for Sale and Discontinued Operations- Outlines how non-current assets held for sale should be dealt with.
- IFRS 6 Exploration for and Evaluation of Mineral Resources – Outlines the effects of allowing a business to use accounting policies to explore and evaluate assets before the IFRS is adopted.
- IFRS 7 Financial instruments: Disclosures- Outlines the requirement of disclosing information about financial instruments to a business and the nature/risk associated with the financial instrument.
- IFRS 9 Financial instruments- Outlines the accounting requirement and measurement for financial instruments.
- IFRS 10 Consolidated Financial Statements- Outlines the requirement for the preparation and presentation of consolidated financial statements.
- IFRS 11 Joint arrangements- Outlines the accounting for businesses that jointly control an arrangement.
- IFRS 12 Disclosure of interest in other businesses- Outlines the requirement to disclose a business’s interest in subsidiaries etc.
- IFRS 13 Fair value measurement– Outlines the IFRS framework for measuring fair value and require disclosure of fair value measurements.
For a more detailed explanation of each accounting standards click here