IFRIC

IFRIC, What is this now

Accounting Problems User Posts: 27 Joined: 27/09/2011	#1 29/09/2011 07:10 Hi thanks for helping again and again. there are IAS then IFRS but what is IFRIC now. are these also part of standards or new standards. i am very confused about them

James Guest	#2 29/09/2011 07:18 IFRIC to make us Sick... isnt it... changes...IAS, IFRS, IFRIS and one more SIC and intrestengly there is also a GAAP for nearly every country

Muhammad Zargham Haider User Posts: 32 Joined: 27/09/2011	#3 29/09/2011 08:07 These are interpretation of IFRS and IAS originating from the International Financial Reporting Interpretations Committee (IFRIC). All of these are issued after 2001.

Accounting Problems User Posts: 27 Joined: 27/09/2011	#4 29/09/2011 09:36 ok. can you please tell me how many IAS, IFRS and IFRIC are issued uptill now.

Muhammad Zargham Haider User Posts: 32 Joined: 27/09/2011	#5 29/09/2011 10:47 there are some IAS which are over taken by other IAS and IFRS. There are currently 8 IFRS, 29 IASs, 16 IFRICs and 11 SICs

jake Guest	#6 05/10/2011 05:12 Is it possible that IAASB first issue IFRIC & SIC, when they got feedback on the same and the content become mature enough then it must be time to convert them into IFRS? currently IFRS have such a huge volume and even then why IFRICs are needed?

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