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IASB publishes proposed IFRS Taxonomy update

  • IFRS - IASB Image

Oct 29, 2020

On October 29, 2020, the International Accounting Standards Board (IASB) published PTU/2020/4 "IFRS Taxonomy 2020 — General Improvements and Common Practice — Presentation of information in primary financial statements". Comments are requested by January 5, 2021.

The proposed update includes elements to reflect common reporting practice and new and amended labels to clarify the accounting meaning and intended use of some existing elements.

Review the press release and proposed update on the IASB’s website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.