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IFRS Taxonomy 2014: Common Practice Project [ED]

Those that were wishing to participate in the 2014 Common Practice Project were invited to express their interest by April 15, 2014.

Proposed effective date:

Not specified.

Last updated:

April 2014


For the last four years, IASB staff have been co-operating with external parties to identify common practice elements for addition to the IFRS Taxonomy. Common practice elements relate to qualitative or quantitative items that entities commonly present or disclose within IFRS financial statements, even though they are not referred to explicitly in Standards or Illustrative Examples accompanying the Standards.

The 2014 Common Practice Project will focus on identifying common practice elements related to the following activities: (a) chemicals; (b) information technology (including software, hardware, peripherals, etc.); (c) media (including publishing, television networks, digital downloads, printing, etc.); and (d) utilities.

Recent activities 

April 2014

On April 7, 2014, the IASB announced that it has established a Common Practice project related to the Taxonomy 2014 and is seeking suitable participants to contribute to this project.

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.