IAS Plus newsletter — Improvements to IFRSs 2009

Published on: 28 Apr 2009

On 16 April 2009, the International Accounting Standards Board (IASB) issued Improvements to IFRSs 2009 – incorporating amendments to 12 International Financial Reporting Standards (IFRSs).

This is the second collection of amendments issued under the annual improvements process, which is designed to make necessary, but non-urgent, amendments to IFRSs.

The following table lists the IFRSs and topics addressed by the amendments:


IFRSSubject of amendmentEffective 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


Correction list for hyphenation

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