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Friday 31 October 2014

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 Projects completed in 2010



2010 completed projects
Deferred tax: recovery of underlying assets, an amendment to IAS 12 Income Taxes was issued in December 2010. The amendment provides a practical solution to the problem of determining whether assets measured using the fair value model in IAS 40 Investment Property are recovered through use or through sale. The amendment is effective for annual periods beginning on or after 1 July 2011, with earlier application permitted.
Severe Hyperinflation and Removal of Fixed Dates for First-time Adopters, amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards was issued in December 2010. The amendments replace references to a fixed transition date with ‘the date of transition to IFRSs’ and set out the requirements for how an entity resumes presenting financial statements in accordance with IFRSs after a period when the entity was unable to comply with IFRSs because its functional currency was subject to severe hyperinflation. The amendments are effective from 1 July 2011, with earlier application permitted.
In October 2010 the IASB issued additions to IFRS 9 Financial Instruments in relation to financial liabilities that an entity has elected to measure at fair value. Those improvements have an effective date of 1 January 2013, with earlier application permitted.
IFRS Practice Statement Management Commentary was issued in December 2010. The Practice Statement provides a broad, non-binding framework for the presentation of narrative reporting to accompany financial statements prepared in accordance with IFRSs.
Derecognition – Disclosures. Amendments to IFRS 7 Financial Instruments: Disclosures were issued in October 2010. Those amendments improve the disclosure requirements in relation to transferred financial assets. The amendments are effective for annual periods beginning on or after 1 July 2011, with earlier application permitted.
Conceptual Framework Phase A: Objectives and qualitative characteristics. New chapters dealing with objectives and qualitative characteristics were issued on 28 September 2010, with immediate effect.

Related information

  • Access all completed projects:

2012
2011
2009 to 2006

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For questions on projects completed before 2006, contact info@ifrs.org