IAS Plus newsletter — Improvements to IFRSs 2009
Published on:
Apr 29, 2009
On 16 April 2009, the International Accounting Standards Board (IASB) issued Improvements to IFRSs 2009 – incorporating amendments to 12 International Financial Reporting Standards (IFRSs).
This is the second collection of amendments issued under the annual improvements process, which is designed to make necessary, but non-urgent, amendments to IFRSs.The following table lists the IFRSs and topics addressed by the amendments:
| IFRS | Subject of amendment | Effective for annual periods beginning |
|---|---|---|
| IFRS 2 Share-based Payment | Scope of IFRS 2 and revised IFRS 3 | 1 July 2009 |
| IFRS 5 Non-current Assets Held for Sale and Discontinued Operations | Disclosures of non-current assets (or disposal groups) classified as held for sale or discontinued operations | 1 January 2010 |
| IFRS 8 Operating Segments | Disclosure of information about segment assets | 1 January 2010 |
| IAS 1 Presentation of Financial Statements | Current/non-current classification of convertible instruments | 1 January 2010 |
| IAS 7 Statement of Cash Flows | Classification of expenditures on unrecognised assets | 1 January 2010 |
| IAS 17 Leases | Classification of leases of land and buildings | 1 January 2010 |
| IAS 18 Revenue | Determining whether an entity is acting as a principal or as an agent | None – amendment to non-mandatory guidance |
| IAS 36 Impairment of Assets | Unit of accounting for goodwill impairment test | 1 January 2010 |
| IAS 38 Intangible Assets | Additional consequential amendments arising from revised IFRS 3 Measuring the fair value of an intangible asset acquired in a business combination | 1 July 2009 |
| IAS 39 Financial Instruments: Recognition and Measurement | Treating loan prepayment penalties as closely related embedded derivatives Scope exemption for business combination contracts Cash flow hedge accounting | 1 January 2010 |
| IFRIC 9 Reassessment of Embedded Derivatives | Scope of IFRIC 9 and revised IFRS 3 | 1 July 2009 |
| IFRIC 16 Hedges of a Net Investment in a Foreign Operation | Amendment to the restriction on the entity the entity that can hold hedging instruments | 1 July 2009 |
- IAS 1 — Presentation of Financial Statements
- IAS 7 — Statement of Cash Flows
- IAS 17 — Leases
- IAS 18 — Revenue
- IAS 36 — Impairment of Assets
- IAS 39 — Financial Instruments: Recognition and Measurement
- IFRS 2 — Share-based Payment
- IFRS 5 — Non-current Assets Held for Sale and Discontinued Operations
- IFRS 8 — Operating Segments
- IFRIC 9 — Reassessment of Embedded Derivatives
- IFRIC 16 — Hedges of a Net Investment in a Foreign Operation
