New and revised IFRSs December 2014
The below resource summarises new and revised IFRSs for reporting periods ending on 31 December 2014. This listing can be used to perform a quick check that all the new financial reporting requirements such as new and revised accounting standards and interpretations, and amendments to standards and interpretations, have been fully considered in the reporting close process.
Significant highlights for December reporters applying IFRSs as adopted in the EU is the requirement to apply the 'suite of five' Standards (IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements, IFRS 12 Disclosure of Interests in Other Entities, IAS 27 Separate Financial Statements and IAS 28 Investments in Associates and Joint Ventures) for the first time and for those that are investment entities, they must apply the Investment Entities amendments for the first time.
New and revised pronouncements
