Year-end Newsletter – Closing Out 2008
20 Dec 2008
Deloitte's IFRS Global Office has published an IAS Plus Update Newsletter – Closing Out 2008.
The newsletter (PDF 163k) provides a high level overview of new and revised Standards and Interpretations that are effective for December 2008 and later accounting periods. Where applicable, the newsletter includes hyperlinks to past Deloitte newsletters dealing with the specific Standard or Interpretation in more detail. Those past newsletters are all available on here on IAS Plus. As always, entities should refer to the Standards and Interpretations themselves to identify all of the changes that may affect their particular circumstances.
Mandatory for 2008 |
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Of the long list of pronouncements recently issued, only three Interpretations are required to be adopted for December 2008 year ends: |
Optional for 2008 |
Entities are generally permitted to adopt new and revised Standards and Interpretations in advance of their effective dates. Therefore, the following are available for early adoption in 2008 (refer to the newsletter for details): New Standard:
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