IFRS Foundation Issues A Guide Through IFRS 2013

Wednesday, September 25, 2013 Print Email

The International Financial Reporting Standards (IFRS) Foundation has issued "A Guide through IFRS 2013". The IFRS Foundations has announced that the Guide is now available for purchase by the accountants, auditors, analysts, students, and other users. The Guide is also usually with the nickname of the "Green Book".

The Guide through IFRS 2013 comprises the full text of the International Accounting Standards (IASs), International Financial Reporting Standards (IFRSs), and interpretations. The accompanying documents such as the Basis for Conclusion are also included in the Guide. All of the IASs, IFRSs, interpretations and accompanying documents issued by the International Accounting Standards Board (IASB) as of July 01, 2013 has been included in the Guide. The Guide contains extensive cross references and other annotations.

The IASs, IFRSs, interpretations and accompanying documents that have been replaced or superseded are not included in this edition of the Guide. Although they are not included in the Guide, they are still applicable if a reporting entity decides not to adopt the newer versions of these documents.

The new requirements since July 01, 2012 include the following:

· Amendments to IFRS 10 Consolidated Financial Statements

· Amendments to IFRS 12 Disclosure of Interests in Other Entities

· Amendments to IAS 27 Separate Financial Statements

· Amendments to IAS 36 Impairment of Assets

· Amendments to IAS 39 Financial Instruments: Recognition and Measurement

The above amendments arose from

· Investment Entities: It was issued on October 31, 2012 and resulted in amendments to IFRS 10, IFRS 12, and IAS 27

· Recoverable Amount Disclosure for Non-Financial Assets: It was issued on May 29, 2013 and resulted in amendments to IAS 36

· Novation of Derivatives and Continuation of Hedge Accounting: It was issued on June 27, 2013 and resulted in amendments to IAS 39

The Guide can be bought for 90 UK Pound Sterling plus any shipping costs for a set of two books. Discounts are available for students, academics and developing countries. Bulk purchase discounts are also available. 

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