This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

New guide to IFRS Taxonomy common practice content

  • ITCG (IFRS Taxonomy Consultative Group) (mid blue) Image

25 Aug 2016

The IFRS Taxonomy contains some content that reflects new common practice regarding disclosures entities commonly provide in practice when applying IFRSs. These disclosures are not explicitly referred to in the standards or the accompanying materials.

To provide users with a better understanding of this kind of content and thus to enable them to contribute meaningfully to the IFRS Taxonomy consultation process, the IFRS Foundation has developed a Guide to Common Practice Content. The guide clarifies:

  • IFRS Taxonomy common practice content;
  • why the IFRS Taxonomy includes common practice content;
  • the process followed to identify common practice elements; and
  • the criteria used to propose identified common practice elements for inclusion in the IFRS Taxonomy.

For more information, please see the press release and the new guide on the IASB 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.