The latest amendments were included in exposure drafts of proposed amendments to IFRSs published in October 2007, August 2008, and January 2009. Most of the amendments are effective for annual periods beginning on or after 1 January 2010, although entities are permitted to adopt them earlier.
During its deliberations of comments received on the exposure draft of Proposed Improvements to IFRSs published in August 2008, the IASB decided to postpone reconsideration of two IAS 39 issues (relating to the fair value option and bifurcation of an embedded foreign currency derivative) until more analysis could be completed. Consequently, with the document published today, all the other issues included in the three exposure drafts have been finalised or removed from the IASB's agenda.
The following table lists the IFRSs and topics addressed by the amendments. Click for IASB Press Release (PDF 45k).
IFRS | Subject of amendment | Effective for annual periods beginning |
IFRS 2 Share-based Payment
|
Scope of IFRS 2 and revised IFRS 3
|
1 July 2009
|
IFRS 5 Non-current Assets Held for Sale and Discontinued Operations
|
Disclosures of non-current assets (or disposal groups) classified as held for sale or discontinued operations
|
1 January 2010
|
IFRS 8 Operating Segments
|
Disclosure of information about segment assets
|
1 January 2010
|
IAS 1 Presentation of Financial Statements
|
Current/non-current classification of convertible instruments
|
1 January 2010
|
IAS 7 Statement of Cash Flows
|
Classification of expenditures on unrecognised assets
|
1 January 2010
|
IAS 17 Leases
|
Classification of leases of land and buildings
|
1 January 2010
|
IAS 18 Revenue
|
Determining whether an entity is acting as a principal or as an agent
|
None – amendment to non-mandatory guidance
|
IAS 36 Impairment of Assets
|
Unit of accounting for goodwill impairment test
|
1 January 2010
|
IAS 38 Intangible Assets
|
Additional consequential amendments arising from revised IFRS 3
Measuring the fair value of an intangible asset acquired in a business combination
|
1 July 2009
|
IAS 39 Financial Instruments: Recognition and Measurement
|
Treating loan prepayment penalties as closely related embedded derivatives
Scope exemption for business combination contracts
Cash flow hedge accounting
|
1 January 2010
|
IFRIC 9 Reassessment of Embedded Derivatives
|
Scope of IFRIC 9 and revised IFRS 3
|
1 July 2009
|
IFRIC 16 Hedges of a Net Investment in a Foreign Operation
|
Amendment to the restriction on the entity the entity that can hold hedging instruments
|
1 July 2009
|