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Germany
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Update for December 2007
Update for May 2004
Update for August 2003
Update for July 2003
Update for April 2003
Update for January 2003
Update for October 2002
Update for July 2002
Update for April 2002
Update for January 2002
Update for October 2001
Update for July 2001
Update for May 2001
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Financial Reporting Framework in Germany
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Adoption of IFRSs in Europe Effective in 2005
In June 2002, the European Union adopted an IAS Regulation requiring European companies listed in an EU securities market, including banks and insurance companies, to prepare their consolidated financial statements in accordance with IFRSs starting with financial statements for financial year 2005 onwards. EU countries have the option to:
- Require or permit IFRSs for unlisted companies.
- Require or permit IFRSs in parent company (unconsolidated) financial statements.
- Permit companies whose only listed securities are debt securities to delay IFRS adoption until 2007.
- Permit companies that are listed on exchanges outside of the EU and that currently prepare their primary financial statements using a non-EU GAAP (in most cases this would be US GAAP) to delay IFRS adoption until 2007.
The European IAS regulation applies not only to the 27 EU Member States but also to the three members of the European Economic Area (EEA) – Iceland, Liechtenstein, and Norway.
Germany is an EU Member State. Consequently, German companies companies listed in an EU/EEA securities market will follow IFRSs starting in 2005. In January 2005, the European Commission published the results of a survey of the 25 EU member states and the 3 EEA member states on their plans regarding the four options above. For information on each country's plans, click to download:
The European Commission has adopted the following wording for use in the notes to the accounts and in the audit reports of companies subject to EU Regulation 1606/2002/EC (the 'IAS regulation'):
- "in accordance with International Financial Reporting Standards as adopted by the EU" or
- "in accordance with IFRSs as adopted by the EU".
Companies may also state, in a footnote, compliance with IFRSs as adopted by the IASB, if that is the case.
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IFRS Model Financial Statements and Presentation and Disclosure Checklist for 2007 in German
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Deloitte (Germany) has published the German language versions of Deloitte's 2007 IFRS Model financial Statements (IFRS-Musterkonzernabschluss 2007) and 2007 IFRS Presentation and Disclosure Checklist (IFRS-Checkliste zu Ausweis- und Angabevorschriften 2007).
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Summary of IFRS 1, First-time Adoption of IFRS, in German |
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Click to download a Summary of IFRS 1, First-time Adoption of IFRS, in German (PDF 102k).
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Frequently Asked Questions on German Accounting Standards
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Here is the Link to the FAQ File on the website of the German Accounting Standards Board.
It includes a list of German companies currently using IFRSs.
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December 2007 Update
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Major changes in German accounting law are under discussion
On 8 November 2007, the German Ministry of Justice (MOJ) issued for public comment a staff draft of the German Accounting Law Modernisation Act (BilMoG) (PDF 651k, German language). The overall goals of the reform are to (1) modernise the German Accounting Law (Handelsgesetzbuch, or HGB) and (2) reduce regulatory burden on companies. The proposed changes are generally in the direction of closer conformity of the HGB with IFRSs. The bill would also make changes in the areas of auditing, supervisory boards, and audit committees. Important accounting changes include:
- greater recognition of intangible assets (although the related increase in equity would not be available for distrbution as dividends)
- special purpose entities controlled by a parent would have to be consolidated
- recognition of deferred tax assets (previously prohibited)
- measurement of financial assets held for trading at fair values in excess of initially recognised costs
- measurement of provisions at discounted amounts
- inclusion of actuarial assumptions in the measurement of pension liabilities
- exemption of small non-listed entities from the requirement to publish HGB-GAAP financial statements
The staff draft is currently out for comment by key interested parties until 8 January 2008. Thereafter, the draft law will be revised based on the comments received by MOJ and then submitted to both chambers of Parliament (the Deutsche Bundestag and Bundesrat) where it will be deliberated for at least several months. Many observers anticipate a heated debate. The original time frame indicated by the MOJ was for publication of the final law in the second half of 2008, with applicability as of 1 January 2009. However, observers suggest that due to significant election dates in 2008 and 2009, that date may not be feasible to uphold.
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May 2004 Update
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Germany establishes a financial reporting enforcement mechanism
Under the auspices of the German Federal Ministry of Justice, representatives of 15 professional and industry associations have established the Financial Reporting Enforcement Panel (FREP). The role of the FREP is solely to discover infringements of financial reporting requirements by listed entities, including matters of compliance with IFRSs. It does not have any authority to impose sanctions. The FREP will inform the entity and the
government's Financial Services Authority of any possible irregularity it has discovered. Thereafter, the Financial Services Authority has responsibility to take appropriate enforcement action. Click for Announcement (PDF 29k).
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August 2003 Update
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Non-listed companies in Germany will be permitted to use IFRS
Non-listed companies in Germany will be permitted to use IFRS, rather than German GAAP, in preparing their consolidated financial statements starting in 2005. For both listed and non-listed companies, statutory (individual company) financial statements would continue to follow German GAAP, though IFRS accounts could be presented in addition. These provisions were set out in a joint announcement by the German Ministries of Justice and Finance in February, updated in May, but not previously reported on IASPlus. Listed companies were already required to switch to IFRS in their consolidated statements starting in 2005 under the European Accounting Regulation.
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July 2003 Update
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At its 65th meeting on 15 May, the GASB discussed a draft of its revised terms of reference taking into account changes in GASC's constitution approved by the last general assembly (see IAS Plus Newsletter April edition). A revised text will be submitted to GASC's management committee for approval.
At the meeting, the GASB also decided that E-GAS 11, Accounting for share option plans and similar compensation arrangements, will not be finalised or re-exposed before an IFRS is published. The Board agreed that activities on financial instruments will not be taken up, before the European Fair Value Directive is implemented into the German Commercial Code. Furthermore, the GASB made the decision that no activities will be pursued on issues related to measuring assets or liabilities at their fair value.
Concerning E-GAS 18, Currency translation, some questions arising while finalizing were solved in the meeting.
As regards IASB's ED 3, Business Combinations, the GASB approved the final text of its comment letter, at its 64th meeting on 7 and 8 April. The letter is available for download from GASC's website.
At that meeting, the Board also discussed how to go forward with the comments received on the draft framework. The Working Group will analyse the comments in detail and prepare proposals to amend the text.At its 66th meeting on 4 June, the GASB considered revising extant German Accounting Standards. A draft will be submitted at the July meeting with the aim of publishing a draft standard containing all paragraphs to be revised with an invitation to comment.
Moreover, the GASB tentatively concluded to hold public discussions on the following IASB projects in late September or early October 2003:
- Insurance Contracts – Phase I.
- Disposal of Non-Current Assets and Reporting of Discontinued Operations (revision of IAS 35).
- Provisions, Contingent Liabilities and Contingent Assets (revision of IAS 37).
- Financial Instruments (possible re-exposure of parts of IAS 32/39).
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April 2003 Update
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At its 61st meeting on 10 and 11 February 2003, the GASB considered the comments received on E-GAS 18, Foreign Currency Translation. The text will be finalised for approval in a public meeting.
The following table represents an updated list of current GAS and E-GAS:
| STANDARD | STATUS |
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| GAS 1 - Exempting Consolidated Financial Statements in accordance with Sec. 292a of the Commercial Code - General Part | Published |
| GAS 2/-10/-20* Cash-flow Statements | Published |
| GAS 3/-10/-20* Segment Reporting | Published |
| GAS 4 Acquisition Accounting in Consolidated Financial Statements | Published |
| GAS 5/-10/-20* Risk Reporting | Published |
| GAS 6 Interim Financial Statements | Published |
| GAS 7 Group Equity and Total Recognised Results | Published |
| GAS 8 Accounting for Investments in Associated Enterprises | Published |
| GAS 9 Accounting for Investments in Joint Ventures in Consolidated Financial Statements | Published |
| GAS 10 Deferred Taxes in Consolidated Financial Statements | Published |
| GAS 11 Related Party Disclosure | Published |
| GAS 12 Non-current Intangible Assets | Published |
| GAS 13 Consistency Principle and Correction of Errors | Published |
| E-GAS 10 Duty to Prepare Consolidated Financial Statements and Scope of Consolidation | Draft reissued as E-GAS 16 |
| E-GAS 11 Accounting for Stock Option Plans and Similar Forms of Compensation | Draft to be revised.
Re-exposure for comment probably in June |
| E-GAS 16 Duty to Prepare Consolidated Financial Statements and Scope of Consolidation | Draft.
Further discussion |
| E-GAS 17 Revenue | Draft awaiting further international development |
| E-GAS 18 Foreign Currency Translation | Draft |
| E-GAS 19 Post Employment Benefits in Consolidated Financial Statements | Draft issued.
Comment deadline ends 31 May 2003 |
| Framework | Revising text following discussion of comment letters received |
*-10 Refers to specific regulations for financial institutions
-20 Refers to specific regulations for insurance companies |
The GASC has also published the following position and discussion papers:
| PAPER | STATUS |
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| Position Paper 1, Accounting for Share Options and Similar Compensation Plans | Deadline for comment expired |
| Position Paper 2, Group Accounting by Insurance Enterprises | Deadline for comment expired |
| Discussion Paper, Uniform Purchase Accounting | Deadline for comment expired |
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January 2003 Update
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On October 17, 2002 the German Accounting Standards Board (GASB) issued a draft Framework. The draft Framework sets out the principles of accounting. It serves as a basis for the development of new German Accounting Standards (GAS) as well as a source of guidance when accounting issues arise, which are not covered by current law or GAS. The draft Framework is not a standard; hence it will not have the same authoritative level. Although minor differences between the GASB's and the IASB's Framework can be observed - they are due to German statutory requirements - the GASB's Framework's regulations correspond to the IASB Framework in all material aspects. In comparison to the scope of the IFRS Framework the draft also sets forth measurement principles for assets and liabilities for initial recognition, subsequent to initial recognition and impairment. The comment deadline expired on December 13, 2002.
The GASB furthermore issued E-GAS 18, Foreign Currency Translation. The main provisions of E-GAS 18 correspond with IAS 21 as potentially amended by the IASB's Improvements Project. The scope of E-GAS 18 also includes provisions concerning financial reporting in hyperinflationary economies. The draft allows for use of several methods to translate hyperinflationary financial statements whereas IAS 29 stipulates a single method. Different results may arise from application of the future standard in respect of deferred taxes due to differences between GAS 10, Deferred Taxes in Consolidated Financial Statements and IAS 12 (see Update July 2002).
In October 2002 GAS 12, Non-Current Intangible Assets and GAS 13, Consistency and Correction of Errors, were published in the Federal Gazette. In order to become effective, a GAS needs to be published by the Federal Ministry of Justice in the Federal Gazette.At its 58th meeting on November 14 and 15, 2002 the GASB decided not to pursue work on E-GAS 17, Revenue, and will rather monitor the international joint project on revenue recognition.
The following table represents an updated list of current GAS and E-GAS:
| STANDARD | STATUS |
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| GAS 1 - Exempting Consolidated Financial Statements in accordance with Sec. 292a of the Commercial Code - General Part | Published |
| GAS 2/-10/-20* Cash-flow Statements | Published |
| GAS 3/-10/-20* Segment Reporting | Published |
| GAS 4 Acquisition Accounting in Consolidated Financial Statements | Published |
| GAS 5/-10/-20* Risk Reporting | Published |
| GAS 6 Interim Financial Statements | Published |
| GAS 7 Group Equity and Total Recognised Results | Published |
| GAS 8 Accounting for Investments in Associated Enterprises | Published |
| GAS 9 Accounting for Investments in Joint Ventures in Consolidated Financial Statements | Published |
| GAS 10 Deferred Taxes in Consolidated Financial Statements | Published |
| GAS 11 Related Party Disclosure | Published |
| GAS 12 Non-current Intangible Assets | Published |
| GAS 13 Consistency Principle and Correction of Errors | Published |
| E-GAS 10 Duty to Prepare Consolidated Financial Statements and Scope of Consolidation | Draft revoked and replaced by E-GAS 16 |
| E-GAS 11 Accounting for Stock Option Plans and Similar Forms of Compensation | Draft awaiting further international development |
| E-GAS 16 Duty to Prepare Consolidated Financial Statements and Scope of Consolidation | Draft under further discussion |
| E-GAS 17 Revenue | Draft awaiting further international development |
| E-GAS 18 Foreign Currency Translation | Draft |
| Framework | Draft |
*-10 Refers to specific regulations for financial institutions
-20 Refers to specific regulations for insurance companies |
The GASC has also published the following position and discussion papers:
| PAPER | STATUS |
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| Position Paper 1, Accounting for Share Options and Similar Compensation Plans | Deadline for comment expired |
| Position Paper 2, Group Accounting by Insurance Enterprises | Deadline for comment expired |
| Discussion Paper, Uniform Purchase Accounting | Deadline for comment expired |
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October 2002 Update
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Status of the Work Programme of the German Accounting Standard Board (GASB)
The status report for the projects currently covered by the GASB`s working
groups was updated as of 9 September 2002:
| PROJECT | STATUS |
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| E-GAS 11 Accounting for share option plans and similar compensation arrangements | Awaiting international developments |
| GAS 12 Intangible assets (E-GAS 14) | Adopted on 8 July 2002, sent to Federal
Ministry of Justice for publication |
| GAS 13 Consistency and Correction of Errors (E-GAS 15) | Adopted on 8 July 2002, sent to Federal
Ministry of Justice for publication |
| E-GAS 17 Revenue Recognition | Comment deadline expired, amended text to be discussed in the 4th quarter of 2002 |
| Construction Contracts Project | Proposal being developed |
| Currency Translation | Text for Exposure Draft is being prepared |
| Discontinuing Operations | Steering Committee is developing draft Second discussion on the Exposure Draft to be held at GASB's October meeting |
| Fair Value | Steering Committee is developing Issues Paper; Issues Paper to be discussed in the 4th
quarter of 2002 |
| Financial Instruments Project | Proposal being developed |
| Framework | Preparing text for issue for comment |
| Long-term Employee Benefits | Steering Committee is developing Exposure Draft; Second discussion on the Exposure Draft to be held at GASB's October meeting |
| Operating Financial Review | First discussion to be held at GASB's November meeting |
| Reporting Financial Performance | First discussion to be held at GASB's October meeting |
| Scope of Consolidation | Second discussion of Issues Paper to be held in the 4th quarter of 2002 |
Consolidation of Special Purpose Entities
In 1999, the national professional organisation of auditors (Institut der Wirtschaftsprüfer – IDW) issued a Position on Accounting Questions Concerning the Application of IAS (IDW RS HFA 2), which is continued on a sequel basis. In July the IDW published a draft sequel (Sequel 4), dealing with the consolidation of Special Purpose Entities (SPE) under SIC-12. Sequel 4 especially elaborates on the indicators of control over an SPE given in the appendix to SIC-12. It examines the relationship among these indicators as well as their relationship to provisions of other IAS which cover the allocation of assets, e.g. IAS 17. The main conclusions of Sequel 4 will be sent to the IFRIC for comment on compliance with SIC-12.
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July 2002 Update
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In April 2002, three German Accounting Standards (GAS) were published in the Federal Gazette:
- GAS 1a, Exempting Consolidated Financial Statements in Accordance with §292a of the Commercial Code - Consolidated Financial Statements in accordance with US GAAP: Goodwill and Other Non-Current Intangible Assets,
- GAS 10, Deferred Taxes in Consolidated Financial Statements, and
- GAS 11, Related Party Disclosures.
GAS 1a takes the affirmative view that consolidated financial statements drawn up in accordance with internationally accepted accounting principles still meet the requirements for exemption as promulgated by § 292a of the Commercial Code. The revised accounting treatment for goodwill under SFAS 142 would not change this presumption.
GAS 10 refers to deferred tax issues in consolidated financial statements. Contrary to IAS 12, Income Taxes, where the balance sheet liability method is applied, deferred taxes under GAS 10 are based on the income statement liability method. Thus only timing differences affecting the income statement qualify for deferred taxes. However, deviating from current German accounting practice, differences reversing only on the disposal of an asset or liability are also included in the definition of timing differences.
For timing differences arising on consolidation, deferred tax has to be recognised. In contrast to IAS 12 deferred tax is always recognised, irrespective of whether negative goodwill arises or increases.
The provisions of GAS 11 regarding related parties, related party transactions and information to be disclosed are similar to those in IAS 24, Related Party Disclosures. In contrast to the international standard, the scope of GAS 11 requires only capital market oriented companies preparing group accounts to disclose related party relationships. Other enterprises are encouraged to apply the requirements of this standard.
In addition to the above, the GASB issued an exposure draft E-GAS 17, Revenue. This exposure draft addresses the recognition and measurement of revenue from the sale of assets and rendering of services. The scope of E-GAS 17 is more comprehensive than the one in IAS 18, Revenue, in that it also covers construction contracts. The approach of E-GAS 17 aims to establish consistent requirements regarding revenue recognition and measurement. The proposed accounting treatment of E-GAS 17 is similar or even identical to IAS 18 and IAS 11, Construction Contracts. As a major difference E-GAS 17 requires the existence of an actual arrangement or contract regarding the sales of goods or rendering of services before revenue can be recognised.
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April 2002 Update
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Reform of the German Commercial Code and Stock Corporation Law
In February 2002, the German Federal Cabinet proposed a bill concerning
the reform of the stock corporation law and German Commercial Code
(Transparenz- und Publizitatsgesetz–(TransPuG)). This bill will amend the
rules of the Commercial Code regarding the preparation of consolidated
accounts in order to bring about convergence with internationally accepted
accounting standards, e.g. IAS or US GAAP. For example, information to
be provided in consolidated financial statements will be enhanced by
requiring a statement of changes in equity. Various alternative accounting
treatments such as the choice regarding the date of consolidation will be
eliminated. Additionally, regulations in the Commercial Code allowing tax
regulations to affect consolidated financial statements will be eliminated.
Furthermore, capital market oriented companies will be required to prepare
consolidated financial statements, even if these companies are included in
consolidated financial statements of a parent company.
Various amendments proposed in the TransPuG had already been addressed
by the German Accounting Standards Board (GASB) when they issued the
exposure draft E-GAS 16 “Duty to Prepare Consolidated Financial
Statements and Scope of Consolidation”. E-GAS 16 replaces in fact E-GAS
10, which is no longer considered an exposure draft. However, at its latest
meeting, the GASB decided that, given the proposals of the TransPuG, it
would not proceed with the due process of E-GAS 16.
Corporate Governance Codex Published
Another step to enhance the acceptance of German companies by
international investors is the publication of the German Corporate
Governance Codex (the Codex) by the government commission “Corporate
Governance Codex”, in February 2002. Among other issues the Codex
addresses reporting and auditing requirements for annual financial
statements. It is recommended that consolidated financial statements and
interim reports be prepared under internationally accepted accounting
principles. Furthermore, the Codex calls for extended disclosures such as
compensation of the members of the Management Board or information
regarding stock option programs. Compliance with the Codex is on a
voluntary basis only. Some German blue chips have already declared that
they would follow the Codex.
Auditing Guidelines on First-Time Application of IAS
The national professional organisation of auditors (Institut der
Wirtschaftsprüfer (IDW)) published an Accounting Practice Statement
(IDW RH HFA 1.003) which provides guidelines regarding the first time
application of IAS for interim reports. This Accounting Practice Statement
has primarily been issued because companies listed on the SMAX segment
of the German Stock Exchange are required to prepare financial statements
under IAS starting 2002. This Practice Statement requires an opening
balance sheet to be prepared for the current period, as well as for the
previous period, as if IAS had always been applied. Since comparative IAS
financial statements are not available to investors, interim reports should
provide information regarding significant accounting policies applied under
IAS, particularly stating differences from accounting policies applied under
German law.
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January 2002 Update
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The German Accounting Standards Board (GASB) has issued for comment two new Draft-GAS: E-GAS 14, Intangible Assets, and E-GAS 15, Accounting Changes and Principle of Consistency.
E-GAS 14 defines an intangible asset similar to IAS 38, Intangible Assets, setting three critical attributes: identifiability, control and future economic benefits.
There is a rebuttable presumption that the useful life of an intangible asset does not exceed twenty years. The key differences to IAS 38 are that capitalisation of development costs, as well as a revaluation to fair value, will not be allowed under the proposed standard.
The objective of E-GAS 15 is to set forth the treatment of changes in accounting principles, changes in accounting estimates and correction of errors with regard to the principle of consistency. Concerning changes in accounting principles and correction of errors, the proposed standard provides for a treatment similar to the allowed alternative of IAS 8, Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies, paragraphs 38 and 54. Changes in accounting estimates shall be treated in a manner similar to IAS 8.26.
The GASB also approved E-GAS 1a as a draft addendum to GAS 1, Exempting Consolidated Financial Statements in accordance with § 292a HGB (German Commercial Code). E-GAS 1a was issued for comment at the end of October 2001. The draft discusses whether consolidated financial statements prepared in accordance with US GAAP meet the requirement to be in conformity with the 7th EU Directive taking into consideration that goodwill and certain other intangible assets are no longer amortised. E-GAS 1a takes an affirmative position regarding such conformity.
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October 2001 Update
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The following GASC exposure drafts have been published for comment:
- E-GAS 12, Deferred Income Taxes in Consolidated Financial Statements; and
- E-GAS 13, Related Party Disclosures has been published for comment.
The proposals will not lead to full convergence with IAS. E-GAS 12 still follows the 'timing difference concept' of accounting for deferred income tax, but converges the recognition criteria as far as possible to the 'temporary difference concept' stated in IAS 12 (for example, through recognition of deferred taxes on quasi-permanent differences, unused tax losses and fair value step-ups -- except for non-depreciable fixed assets -- in a business combination that is an acquisition). It should be noted that some argue that this is not in accordance with the requirements of the German Commercial Code (Handelsgesetzbuch).
The E-GAS 13 related party definition depends on a shareholder relationship or membership of a governing body of the reporting enterprise.
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July 2001 Update
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In April and May 2001, the following GASC accounting standards were approved by the Federal Minister of Justice and published in the Federal Gazette:
- GAS 5, Risk Reporting - effective for financial years beginning after 31 December 2000;
- GAS 7, Presenting Equity in Consolidated Financial Statements - effective for financial years beginning after 30 June 2001; and
- GAS 8, Accounting for Investments in Associates - effective for financial years beginning after 30th June 2001.
The following GASC exposure drafts have also been issued:
- E-GAS 10, Duty to prepare Consolidated Financial Statements and Scope of Consolidation; and
- E-GAS 11, Accounting for Stock Options and Similar Forms of Compensation.
E-GAS 11 was published in German and English - normally draft standards are published in German only - in order to actively support the work of the IASB, which intends to initiate a project on this matter. The proposed standard is based on the former GASC position paper that received comments varying from general support to strong rejection of the proposed accounting treatment for stock options.
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May 2001 Update
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Deutsche Boerse - German Stock Exchange
Effective 1 January 2002, companies listed in the SMAX, the index for small caps, are required to prepare financial statements using either IAS or US-GAAP. In addition the financial statements have to be published in English. These changes to the segment for small caps are part of the Deutsche Boerse's program to increase transparency and to further attract foreign investors.
As a result of these changes, the accounting standards requirements for companies listed in the different segments of the Deutsche Boerse are as follows:
- In general, the primary source for accounting requirements is the German Commercial Code (Handelsgesetzbuch - HGB). In 1998 a new section 292a HGB was introduced, allowing companies listed in a German stock exchange to prepare their consolidated financial statements using either IAS or US-GAAP instead of German GAAP. As a consequence, nearly all large companies listed in the DAX are taking advantage of this exemption rule.
- Depending on the segment companies are listed in or for which they are applying for a listing, IAS or US-GAAP become mandatory. Companies listed in the "Neuer Markt", the New Economy segment (counterpart to the NASDAQ), are already required to use either IAS or US-GAAP on preparing their financial statements. With the new requirements IAS or US-GAAP are now mandatory for small caps.
Standard Setting in Germany
In addition to the introduction of the above described exemption rule, standard setting in Germany was reformed in 1998: the German Accounting Standards Committee (GASC), a private standard setting body, was established to reform German accounting regulations concerning consolidated financial statements. Its objective is to harmonise German accounting standards with international standards (IAS/US-GAAP), by the end of 2004. As accounting regulations in Germany are normally established through the law, the standards of the GASC have to be approved by the Minister of Justice and published in the federal gazette (Bundesanzeiger) to become legally effective. Currently, the following standards have been either published or drafted:
| STANDARD | TITLE | STATUS |
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| DRS 1 | Exempting Consolidated Financial Statements in accordance with Sec. 292a of the Commercial Code General Part | Published |
| DRS 2/-10/-20* | Cash Flow Statements | Published |
| DRS 3/-10/-20 | Segment Reporting | Published |
| DRS 4 | Purchase Accounting | Published |
| E-DRS 5/-20 | Risk Reporting | Draft |
| DRS 5-10 | Risk Reporting by Financial Enterprises | Published |
| DRS 6 | Interim Financial Statements | Published |
| E-DRS 7 | Presenting Equity in Consolidated Financial Statements | Draft |
| E-DRS 8 | Accounting for Investments in Associates | Draft |
| E-DRS 9 | Accounting for Investments in Joint Ventures | Draft |
*/-10 refers to specific regulations for financial enterprises, /-20 refers to specific regulations for insurance enterprises.
The GASC has also published the following position and discussion papers, the comment periods for which have already lapsed:
- Position Paper 1 - Accounting for Share Option and Similar Compensation Plans
- Position Paper 2 - Group Accounting by Insurance Enterprises
- Discussion Paper - Uniform Purchase Accounting
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