Japan finalises 'designation' of IFRSs issued by the IASB in 2011
May 14, 2012
On 11 May 2012, the Financial Services Agency (FSA) of Japan completed its public comment process and announced that additional IFRSs were designated for use by companies voluntarily applying IFRSs in Japan.
The FSA added all IFRSs (including amendments and interpretations) released between 1 January and 31 December 2011 to the list of 'designated IFRSs'.
Such IFRSs include:
- the "package of five" standards on consolidation, joint arrangements and disclosures, i.e. IFRS 10, IFRS 11, IFRS 12, IAS 27 (2011) and IAS 28 (2011).
- IFRS 13 Fair Value Measurement
- Amendments to IFRS 7/IFRS 9 and IAS 32 issued by the IASB on 16 December 2011
- IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine.