Status of adoption of IFRSs in Bangladesh as at July 2012
11 Jul 2012
Provides a summary as at July 2012 of which standards issued by the International Accounting Standards Board have been adopted by the Institute of Chartered Accountants in Bangladesh (ICAB) as equivalent Bangladesh Financial Reporting Standards (BFRSs).
International Accounting Standards (IAS)
|
IAS No. |
Title |
Status of adoption by ICAB |
Effective date as BAS |
| 1 | Presentation of Financial Statements | Adopted | 1 January 2007 |
| 2 | Inventories | Adopted | 1 January 2007 |
| 7 | Cash Flow Statements | Adopted | 1 January 1999 |
| 8 | Accounting Policies, Changes in Accounting Estimates and Errors |
Adopted | 1 January 2007 |
| 10 | Events after the Balance Sheet Date | Adopted | 1 January 2007 |
| 11 | Construction Contracts | Adopted | I January 1999 |
| 12 | Income Taxes | Adopted. | 1 January 1999 |
| 16 | Property, Plant and Equipment | Adopted | 1 January 2007 |
| 17 | Leases | Adopted | I January 2007 |
| 18 | Revenue | Adopted | 1 January 2007 |
| 19 | Employee Benefits | Adopted | 1 January 2004 |
| 20 | Accounting for Government Grants and Disclosure of Government Assistance | Adopted | 1 January 1999 |
| 21 | The Effects of Changes in Foreign Exchange Rates | Adopted | 1 January 2007 |
| 23 | Borrowing Costs | Adopted | 1 January 2010 |
| 24 | Related Party Disclosures | Adopted | 1 January 2007 |
| 26 | Accounting and Reporting by Retirement Benefit Plans | Adopted | 1 January 2007 |
| 27 | Consolidated and Separate Financial Statements |
Adopted | 1 January 2010 |
| 28 | Investments in Associates | Adopted | 1 January 2007 |
| 29 | Financial Reporting in Hyperinflationary Economies | Not adopted - impractiable in the Bangladeshi context |
— |
| 31 | Interests in Joint Ventures | Adopted | 1 January 2007 |
| 32 | Financial Instruments: Presentation | Adopted | 1 January 2010 |
| 33 | Earnings per Share | Adopted | 1 January 2007 |
| 34 | Interim Financial Reporting | Adopted | 1 January 1999 |
| 36 | Impairment of Assets | Adopted | 1 January 2005 |
| 37 | Provisions, Contingent Liabilities and Contingent Assets | Adopted | 1 January 2007 |
| 38 | Intangible Assets | Adopted | 1 January 2005 |
| 39 | Financial Instruments: Recognition and Measurement | Adopted | 1 January 2010 |
| 40 | Investment Property | Adopted | 1 January 2007 |
| 41 | Agriculture | Adopted | 1 January 2007 |
International Financial Reporting Standards (IFRS)
|
IFRS No. |
IFRS title |
Status of adoption by ICAB |
Effective Date as BFRS |
| 1 | First-time Adoption of International Financial Reporting Standards | Adopted | 1 January 2009 |
| 2 | Share Based Payment | Adopted | 1 January 2007 |
| 3 | Business Combinations | Adopted | 1 January 2010 |
| 4 |
Insurance Contracts | Adopted | 1 January 2010 |
| 5 | Non-Current Assets held for Sale and Discontinued Operations | Adopted | 1 January 2007 |
| 6 | Exploration for and Evaluation of Mineral Resources | Adopted | 1 January 2007 |
| 7 | Financial Instruments: Disclosures | Adopted | 1 January 2010 |
| 8 | Operating Segments | Adopted |
1 January 2010 |
| 9 | Financial Instruments | Not adopted | — |
| 10 | Consolidated Financial Statements | Adopted | 1 January 2013 |
| 11 | Joint Arrangements | Adopted | 1 January 2013 |
| 12 | Disclosure of Interests in Other Entities | Adopted | 1 January 2013 |
| 13 | Fair Value Measurement | Adopted | 1 January 2013 |
Source: ICAB website, ICAB annual report 2011.
