The IFRS Foundation is a not-for-profit, public interest organisation established to develop high-quality, understandable, enforceable and globally accepted accounting and sustainability disclosure standards.
Our Standards are developed by our two standard-setting boards, the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB).
Why global accounting Standards? What benefits do they bring to the world economy? Which jurisdictions have adopted and require use of our accounting Standards?
Discover more about the adoption process for IFRS Accounting Standards.
Access our Standards, Interpretations and related materials here. If you register with us for a free acccount, you can access PDF files of this year's consolidated IFRS Accounting Standards, IFRIC Interpretations, the Conceptual Framework for Financial Reporting and IFRS Practice Statements, as well as available translations of Standards.
What do we do once we’ve issued a Standard? We undertake various activities to support the consistent application of IFRS Standards, which includes implementation support for recently issued Standards. We do this because the quality of implementation and application of the Standards affects the benefits that investors receive from having a single set of global standards.
The work plan includes all projects undertaken by the IFRS Foundation Trustees, the International Accounting Standards Board (IASB), the International Sustainability Standards Board (ISSB) and the IFRS Interpretations Committee. Public consultations are a key part of all our projects and are indicated on the work plan.
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On 3 November 2021, at COP26, the IFRS Foundation Trustees announced the creation of the International Sustainability Standards Board (ISSB).
The ISSB will deliver a global baseline of sustainability disclosures to meet capital market needs.
The Essentials aims to increase investors' awareness of IFRS Standards and to enhance insights drawn from information in financial statements prepared using IFRS Standards.
Each Essentials issue aims to provide an overview of how a specific Standard is relevant to financial-statement analysis.
|Issue No.5: The Essentials—Analysing lessee financial statements and Non-GAAP performance measures||Introduction to the new leasing Standard and disclosure requirements|
|Assessment of similarities and differences between the IFRS 16 financial statements of lessees and asset buyers|
|Comparison of lessees and asset buyers’ free cash flow (FCF) measures|
|Case study demonstrating the use of IFRS 16 disclosures in making adjustments to lessees’ FCF|
|Issue No.4: The Essentials—Busting insurance jargon||New metrics for evaluating the performance of insurers|
|Premiums vs insurance revenue|
|What can you learn from the contractual service margin?|
|Disclosures and ratios|
|Issue No.3: The Essentials—Sizing Up the Balance Sheet||Offsetting explained|
|When do banks report a net figure?|
|How does this tie in with Basel III?|
|Issue No.2: The Essentials—Presentation of Financial Statements||Making the most of what’s presented in financial statements|
|Reporting principles investors will want to know|
|Reporting ‘extraordinary’ items|
|IFRS vs US GAAP|
|Issue No.1: The Essentials—Cash Flow Statements||What you need to know about the cash flow statement|
|How do investors commonly look at free cash flow valuation?|
|Areas of debate about the cash flow statement|
|IFRS vs US GAAP|
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