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Financial statements and disclosure

Title Description
Asset disposals and discontinued operations Completed 2004. The IASB issued IFRS 5 'Non-current Assets Held for Sale and Discontinued Operations' on 31 March 2004.
Business reporting on the internet Discontinued 2001. This project was handed over to the International Federation of Accountants (IFAC), who are working on a similar project.
Disclosure initiative — IAS 1 amendments Completed 2014. The IASB issued 'Disclosure Initiative (Amendments to IAS 1)' on 18 December 2014.
Disclosure initiative — Principles of disclosure This project has been concluded. The IASB published ‘Disclosure Initiative — Principles of Disclosure project summary' on 21 March 2019 and will not conduct any further work regarding this project.
Disclosure initiative — Materiality Completed. The IASB issued IFRS Practice Statement 'Making Materiality Judgements' on 14 September 2017 and 'Definition of Material (Amendments to IAS 1 and IAS 8)' on 31 October 2018.
Disclosure initiative — Net debt Completed 2016. The IASB issued 'Disclosure Initiative (Amendments to IAS 7)' on 29 January 2016.
Earnings per share On hold. Originally a joint IASB-FASB project to converge the requirements for the calculation of earnings per share. This project is currently on hold pending an IASB staff review to develop a recommended course of action.
Financial statement presentation — Other comprehensive income Completed 2011. The IASB issued 'Presentation of Items of Other Comprehensive Income (Amendments to IAS 1)' on 16 June 2011 implementing limited scope amendments to IAS 1.
Financial statement presentation — Financial statements and comparatives Completed 2007. The IASB issued a revised IAS 1 'Presentation of Financial Statements' on 6 September 2007, completing the first phase of the IASB-FASB convergence project on financial statement presentation.
Financial statement presentation — Comprehensive project Discontinued in 2010. This project sought to address broadly the issues related to the display and presentation in the financial statements of all recognised changes in assets and liabilities from transactions or other events except those related to transactions with owners as owners (sometimes called comprehensive income).
IAS 1 — Classification of liabilities Completed. The IASB issued 'Classification of Liabilities as Current or Non-current (Amendments to IAS 1)' on 23 January 2020.
IAS 1 — Disclosures about going concern A narrow scope project to clarify the disclosure requirements about the assessment of going concern in IAS 1 'Presentation of Financial Statements'. This project has been incorporated into the IASB's short-term disclosure initiative of amendments to IAS 1.
IAS 24 — State controlled entities and definition of 'related party' Completed 2009. The IASB issued a revised IAS 24 'Related Party Disclosures' on 4 November 2009.
IAS 34 — Disclosures in interim reporting periods Completed 2010. 'Annual Improvements to IFRSs 2010' was issued on 6 May 2010, clarifying the nature of disclosures required in interim reporting periods.
IFRS 5 — Definition of 'discontinued operations' On hold. Originally a joint IASB-FASB project to develop a common definition of, and common disclosures about, discontinued operations. This project is currently on hold pending an IASB staff review to develop a recommended course of action.
IFRS for small and medium-sized entities Completed 2009. The IASB issued 'IFRS for Small and Medium-sized Entities' on 9 July 2009.
IFRS for SMEs — Comprehensive review 2012-2014 This project has been completed. The IASB issued '2015 Amendments to the IFRS for SMEs' on 21 May 2015.
Management commentary Completed 2010. The IASB issued IFRS Practice Statement 'Management Commentary' on 8 December 2010.
Reporting comprehensive income (performance reporting) Discontinued 2004. The IASB and FASB agreed that, in the interests of convergence, a project on this topic should be conducted jointly. These discussions are covered in the 'financial statement presentation' project.
Segment reporting — Convergence issues Completed 2006. The IASB issued IFRS 8 'Operating Segments' on 30 November 2006.

Correction list for hyphenation

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