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Status of adoption of IASs/IFRSs in Bangladesh as at July 2007

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30 Jul 2007

Provides a summary as at July 2007 of which standards issued by the International Accounting Standards Board (and its predecessor, the International Accounting Standards Committee) have been adopted by the Institute of Chartered Accountants in Bangladesh (ICAB) as equivalent Bangladesh Accounting Standards (BASs) or Bangladesh Financial Reporting Standards (BFRSs).


International Accounting Standards (IAS)

IAS No.

IAS Title

Date of Pronouncement

Effective Date as IAS

Status of Adoption by ICAB

Effective Date as BAS

01 Presentation of Financial Statements September 1997(Amended) 01 January 2005 Originally adopted on 1 July 1984. 05 July 2006 (latest version) 05 July 2006
02 Inventories December 1993 (Amended) 01 January 2005 Originally adopted on 1 January 1986.05 July 2006 (latest version) 05 July 2006
07 Cash Flow Statements December 1992 01 January 1994 Originally adopted on 1 January 1986. Subsequently amended. 01 January 1994
08 Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies December 1993 (Amended) 01 January 2005 Originally adopted on 1 January 1991. 05 July 2006 (latest version) 05 July 2006
10 Events after the Balance Sheet Date May 1999 (Amended) 01 January 2005 Originally adopted on 1 January 1990. 05 July 2006 (latest version) 05 July 2006
11 Construction Contracts December 1993 01 January 1995 Originally adopted on 1 January 1990. Subsequently amended. 01 January 1999
12 Income Taxes October 1996 01 January 1998 Originally adopted on 1 January 1990. Subsequently amended. 01 January 1998
14 Segment Reporting August 1997 01 July 1998 Adopted on 27 July 2003 01 January 2004
16 Property, Plant and Equipment December 1993 (Amended) 01 January 2005 Originally adopted on 1 January 1985. 05 July 2006 (latest version) 05 July 2006
17 Leases December 1997 (Amended) 01 January 2005 Originally adopted on 18 November 2003.05 July 2006 (latest version) 05 July 2006
18 Revenue December 1993 01 January 2005 Originally adopted on 1 January 1993. Subsequently amended. 01 January 1995
19 Employee Benefits February 1998 1 January 1999 Adopted on 27 July 2003. IAS 19 (Revised 2004) not yet considered by ICAB. 01 January 2004
20 Accounting for Government Grants and Disclosure of Government Assistance April 1983Reformatted in 1994 01 January 1984 Adopted on 8 November 1998 01 January 1999
21 The Effects of Changes in Foreign Exchange Rates December 1993 (Amended) 01 January 2005 Originally adopted on 1 January 1990. 05 July 2006 (latest version) 05 July 2006
23 Borrowing Costs December 1993 (Amended)Reformatted in 1994 01 January 1995 Originally adopted on 1 January 1990.05 July 2006 (latest version) 05 July 2006
24 Related Party Disclosures July 1984 (Amended) 01 January 2005 Originally adopted on 27 July 2003.05 July 2006 (latest version) 05 July 2006
26 Accounting and Reporting by Retirement Benefit Plans January 1987Reformatted in 1994 01 January 1988 Adopted on 27 July 2003 01 January 2004
27 Consolidated Financial Statements and Accounting for Investments in Subsidiaries April 1989 (Amended) 01 January 2005 Adopted on 27 December 1998. 05 July 2006 (latest version) 05 July 2006
28 Accounting for Investments in Associates April 1989 (Amended) 01 January 2005 Adopted on 1 January 2005.05 July 2006 (latest version) 15 July 2006
29 Financial Reporting in Hyperinflationary Economies July 1989 01 January 1990 Not yet adopted
31 Financial Reporting of Interests in Joint Ventures December 1990 (Amended)Reformatted in 1994 01 January 2005 Adopted on 27 December 2003. 05 July 2006 (latest version) 05 July 2006
32 Financial Instruments: Presentation June 1995 1 January 1996 Not yet adopted
33 Earnings per Share February 1997 (Amended) 01 January 2005 Adopted on 27 December 1998. 05 July 2006 (latest version) 05 July 2006
34 Interim Financial Reporting February 1998 01 January 1999 Adopted on 27 December 1998 01 January 1999
36 Impairment of Assets June 1998 31 March 2004 Adopted on 27 December 2003 IAS 36 (Revised 2004) not yet considered by ICAB. 01 January 2004
37 Provisions, Contingent Liabilities and Contingent Assets September 1998Reformatted in 1994 01 July 1999 Adopted on 27 December 2003 01 January 2004
38 Intangible Assets September 1998Limited amendments were made 31 March 2004 Adopted on 18 April 2004 IAS 38 (Revised 2004) not yet considered by ICAB 01 January 2005
39 Financial Instruments: Recognition and Measurement March 1999 1 January 2001 Under review by ICAB. Not yet adopted
40 Investment Property April 2000 (Amended) 01 January 2005 Adopted on 18 April 2004.05 July 2006 (latest version) 05 July 2006
41 Agriculture February 2001 (Amended) 01 January 2003 05 July 2006 05 July 2006


International Financial Reporting Standards (IFRS)

IFRS No.

IFRS Title

Date of Pronouncement

Effective Date as IFRS

Status of Adoption by ICAB

Effective Date as BAS

IFRS 1 First-time Adoption of International financial Reporting Standards June 2003 01 January 2004 Under review by ICAB
IFRS 2 Share Based Payment February 2004 01 January 2005 05 July 2006 01 January 2007
IFRS 3 Business Combinations October 1998 31 March 2004 15 December 2005 01 January 2007
IFRS 4 Insurance Contracts March 2004 01 January 2005 Under review by ICAB --
IFRS 5 Non-Current Assets held for Sale and Discontinued Operations June 1998 01 January 2005 15 December 2005 01 January 2007
IFRS 6 Exploration for and Evaluation of Mineral Resources December 2004 01 January 2006 05 July 2006 01 January 2007
IFRS 7 Financial Instruments: Disclosures August 1990 01 January 2006 Not yet adopted
IFRS 8 Operating Segments November 2006 01 January 2009 Not yet adopted

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.