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Special Newsletter–Closing Out 2006

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23 Dec 2006

Deloitte's IFRS Global Office has published a special edition of our IAS Plus Newsletter titled Closing Out 2006.

The newsletter summarises all of the new and revised Standards and Interpretations in effect for December 2006 year ends and beyond. Here is list of those pronouncements:

Effective for 31 December 2006 year ends

New Standard

IAS Plus newsletter issued

IFRS 6

Exploration for and Evaluation of Mineral Resources

January 2005

Amendments to Standards

IAS Plus newsletter issued

Amendment to IAS 19

Actuarial Gains and Losses, Group Plans and Disclosures

None

Amendment to IAS 21

Net Investment in a Foreign Operation

None

Amendment to IAS 39

Cash Flow Hedge Accounting of Forecast Intragroup Transactions

None

Amendment to IAS 39

The Fair Value Option

July 2005

Amendments to IAS 39 & IFRS 4

Financial Guarantee Contracts

December 2005

New Interpretations

IAS Plus newsletter issued

IFRIC 4

Determining whether an Arrangement Contains a Lease

December 2004

IFRIC 5

Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds

December 2004

IFRIC 6

Liabilities arising from Participation in a Specific Market–Waste Electrical and Electronic Equipment (effective for accounting periods beginning on or after 1 December 2005)

September 2005

Available for early adoption for 31 December 2006 year ends

New Standards

Effective for accounting periods beginning on or after

IAS Plus newsletter issued

IFRS 7

Financial Instruments: Disclosures

1 January 2007

October 2005

IFRS 8

Operating Segments

1 January 2009

December 2006

Amendments to Standards

Effective for accounting periods beginning on or after

IAS Plus newsletter issued

Amendment to IAS 1

Capital Disclosures

1 January 2007

October 2005

Revised Guidance on Implementing IFRS 4

1 January 2007

None

New Interpretations

Effective for accounting periods beginning on or after

IAS Plus newsletter issued

IFRIC 7

Applying the Restatement Approach under IAS 29, Financial Reporting in Hyperinflationary Economies

1 March 2006

December 2005

IFRIC 8

Scope of IFRS 2

1 May 2006

January 2006

IFRIC 9

Reassessment of Embedded Derivatives

1 June 2006

March 2006

IFRIC 10

Interim Financial Reporting and Impairment 1

November 2006

August 2006

IFRIC 11

IFRS 2–Group and Treasury Share Transactions

1 March 2007

December 2006

IFRIC 12

Service Concession Arrangements

1 January 2008

December 2006

You will find all Past IAS Plus Newsletters Here

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