IASB amends 12 standards
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The International Accounting Standards Board (IASB) has made a range of amendments to 12 International Financial Reporting Standards (IFRSs). Read original article.
All the changes are part of the board's annual improvements project, which is used to make non-urgent adjustments to IFRSs.
The latest amendments reflect issues that were initially raised in proposals published in October 2007, August 2008 and January 2009.
A spokesperson for the IASB said: "By presenting the amendments in a single document rather than as a series of piecemeal changes, the IASB aims to ease the burden of change for all concerned."
The changes are effective for annual periods beginning on or after January 1st 2010, unless otherwise specified, he added.
However, the IASB has decided to postpone reconsideration of two issues raised in the proposed changes of August 2008 due to comments received during the consultation period.
Recently, the board announced it is working on the proposals made by the leaders of the G20 nations at their meeting earlier this month.
All the changes are part of the board's annual improvements project, which is used to make non-urgent adjustments to IFRSs.
The latest amendments reflect issues that were initially raised in proposals published in October 2007, August 2008 and January 2009.
- Print-friendly version of this press release [PDF]
- Annual Improvements project page
- IASB homepage
A spokesperson for the IASB said: "By presenting the amendments in a single document rather than as a series of piecemeal changes, the IASB aims to ease the burden of change for all concerned."
The changes are effective for annual periods beginning on or after January 1st 2010, unless otherwise specified, he added.
However, the IASB has decided to postpone reconsideration of two issues raised in the proposed changes of August 2008 due to comments received during the consultation period.
Recently, the board announced it is working on the proposals made by the leaders of the G20 nations at their meeting earlier this month.
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