Some new and revised IFRS will be effective for 2005, others not
25 Feb 2003
The IASB has announced, via a story in its Insight newsletter, that certain new or revised standards will be mandatory for 2005 and that others will be encouraged but not mandatory, as follows: Mandatory for 2005 Business Combinations – both Phases I and II Convergence – short-term items First-Time Application of IFRS Improvements to Existing IFRS Amendments to IAS 32 and IAS 39 Insurance Contracts Phase I Share-Based Payment Not mandatory for 2005.Early application encouraged: Consolidation, including special purpose entities Deposit-Taking, Lending, and Securities Activities Performance Reporting (now called Income Statements) Post-Employment Benefits (part of the Convergence project) Liabilities, Equity, and Revenue Recognition Segment Reporting (part of the Convergence project) .
The IASB has announced, via a story in its Insight newsletter, that certain new or revised standards will be mandatory for 2005 and that others will be encouraged but not mandatory, as follows:
Mandatory for 2005
| Not mandatory for 2005.Early application encouraged:
|