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Implementing Hong Kong equivalents of IFRSs

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09 Aug 2005

Deloitte (China) has published (PDF 2,022k).

Starting in 2005, Hong Kong Financial Reporting Standards are identical to International Financial Reporting Standards. While Hong Kong had adopted many of the earlier IASs as Hong Kong standards, some had not been adopted, including IAS 32 and IAS 39. And all of the December 2003 improvements and new and revised IFRSs issued in 2004 and 2005 will take effect in Hong Kong beginning in 2005. For each standard, this new 180-page book sets out:
  • a summary of its content,
  • the key changes it makes to accounting in Hong Kong,
  • the most significant implications of its adoption, and
  • related anticipated future developments. There is one Hong Kong standard and several Hong Kong interpretations that do not have counterparts in IFRSs. Also there are several wording differences between HKFRSs and IFRSs due to Hong Kong law. These are all described in this new book. You will find a link to this and many other Deloitte publications on our IFRS Publications Page.

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