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.

Need to know — IASB issues Annual Improvements: 2010-2012 Cycle

Published on: 13 Dec 2013

This edition of ‘Need to know’ outlines the recent amendments to seven International Financial Reporting Standards (IFRSs) issued under the annual improvement process.

The amendments impact the following standards:

  • IFRS 2 Share based payments – Definition of vesting condition
  • IFRS 3 Business Combinations – Accounting for contingent consideration in a business combination
  • IFRS 8 Operating Segments – (1) Aggregation of operating segments and (2) Reconciliation of the total of the reportable segments’ assets to the entity’s assets
  • IFRS 13 Fair Value Measurement – Short-term receivables and payables
  • IAS 16 Property, Plant and Equipment- Revaluation method: proportionate restatement of accumulated depreciation
  • IAS 24 Related Party Disclosures- Key management personnel
  • IAS 38 Intangible Assets – Revaluation method: proportionate restatement of accumulated amortisation

The amendments are effective for annual periods beginning on or after 1 July 2014, with earlier application permitted. This is subject to EU endorsement, as appropriate.

Download

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.