European Union formally adopts updated references to the Conceptual Framework
06 Dec, 2019
The European Union has published a Commission Regulation endorsing 'Amendments to References to the Conceptual Framework in IFRS Standards'.
The following standards and interpretations are affected by the amendments published by the IASB in March 2018:
- IAS 1 Presentation of Financial Statements
- IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
- IAS 34 Interim Financial Reporting
- IAS 37 Provisions, Contingent Liabilities and Contingent Assets
- IAS 38 Intangible Assets
- IFRS 2 Share-based Payment
- IFRS 3 Business Combinations
- IFRS 6 Exploration for and Evaluation of Mineral Resources
- IFRIC 12 Service Concession Arrangements
- IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments
- IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine
- IFRIC 22 Foreign Currency Transactions and Advance Consideration
- SIC-32 Intangible Assets — Web Site Costs
The European Union effective date is the same as the IASB in case of all amendments (1 January 2020).
The Commission Regulation amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council was published in the Official Journal of the European Union on 6 December 2019.
Related Topics
- IAS 1 — Presentation of Financial Statements
- IAS 8 — Accounting Policies, Changes in Accounting Estimates and Errors
- IAS 34 — Interim Financial Reporting
- IAS 37 — Provisions, Contingent Liabilities and Contingent Assets
- IAS 38 — Intangible Assets
- IFRS 2 — Share-based Payment
- IFRS 3 — Business Combinations
- IFRS 6 — Exploration for and Evaluation of Mineral Resources
- SIC-32 — Intangible Assets – Web Site Costs
- IFRIC 12 — Service Concession Arrangements
- IFRIC 19 — Extinguishing Financial Liabilities with Equity Instruments
- IFRIC 20 — Stripping Costs in the Production Phase of a Surface Mine
- IFRIC 22 — Foreign Currency Transactions and Advance Consideration