IASB publishes editorial corrections
19 Sep 2014
The International Accounting Standards Board (IASB) has published its second batch of editorial corrections for 2014. The corrections impact a previous editorial correction, consequential amendments, stand-alone standards, and the IASB's "A Guide Through IFRS 2013", "2014 IFRS (Blue Book)", and "2014 IFRS (Red Book)".
The retraction of a previous editorial correction affects the following standard:
- IFRS 5 Non-current Assets Held for Sale and Discontinued Operations
Editorial corrections to consequential amendments affect the following standards:
- Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27)
- IFRS 13 Fair Value Measurement
Editorial corrections affect the following individual pronouncements:
- Equity Method in Separate Financial Statements (Amendments to IAS 27)
- IFRS 9 Financial Instruments (as issued in July 2014)
- Agriculture: Bearer Plants (Amendments to IAS 16 and IAS 41)
- IFRS 15 Revenue from Contracts with Customers
- Accounting for Acquisitions of Interests in Joint Operations (Amendments to IFRS 11)
- Clarification of Acceptable Methods of Depreciation and Amortisation (Amendments to IAS 16 and IAS 38)
- Annual Improvements to IFRSs 2010–2012 Cycle
- IFRIC 21 Levies
- IFRS 10 Consolidated Financial Statements
Editorial corrections to the 2014 IFRS (Red Book), A Guide through IFRS 2013 and 2014 IFRS (Blue Book) affect the following standards:
- IFRS 1 First-time Adoption of International Financial Reporting Standards
- IFRS 3 Business Combinations
- IFRS 4 Insurance Contracts
- IFRS 7 Financial Instruments: Disclosures
- IFRS 9 Financial Instruments
- IAS 27 Separate Financial Statements
- IAS 32 Financial Instruments: Presentation
- IAS 39 Financial Instruments: Recognition and Measurement
- IFRIC 2 Members' Shares in Co-operative Entities and Similar Instruments
- IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
- IFRIC 12 Service Concession Arrangements
Editorial corrections do not change the meaning or application of pronouncements, but instead correct inadvertent errors. Full details of the editorial corrections are available on the IASB website.
Related Topics
- IAS 41 — Agriculture
- IAS 32 — Financial Instruments: Presentation
- IAS 39 — Financial Instruments: Recognition and Measurement
- IAS 40 — Investment Property
- IFRS 1 — First-time Adoption of International Financial Reporting Standards
- IFRS 3 — Business Combinations
- IFRS 4 — Insurance Contracts
- IAS 27 — Separate Financial Statements (2011)
- IFRS 10 — Consolidated Financial Statements
- IFRS 12 — Disclosure of Interests in Other Entities
- IFRS 11 — Joint Arrangements
- IFRS 9 — Financial Instruments
- IFRS 15 — Revenue from Contracts with Customers
- IFRS 5 — Non-current Assets Held for Sale and Discontinued Operations
- IAS 38 — Intangible Assets
- IFRS 2 — Share-based Payment
- IFRS 13 — Fair Value Measurement
- IFRS 7 — Financial Instruments: Disclosures
- IAS 16 — Property, Plant and Equipment
- IFRIC 21 — Levies
- IFRIC 2 — Members' Shares in Co-operative Entities and Similar Instruments
- IFRIC 5 — Rights to Interests Arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
- IFRIC 12 — Service Concession Arrangements