New and revised IFRS


New and revised IFRS

Highlighting the changes - November 2016

The objective of this publication is to provide a summary of new and revised financial reporting requirements under IFRS, updated for financial reporting periods ending on 31 December 2016. This listing can be used to perform a quick check that new financial reporting requirements such as new and revised accounting standards and interpretations, and amendments to standards and interpretations, have been fully considered in the reporting close process. The information below can also be used to assist with the disclosure requirements under paragraph 30 of IAS 8 ‘Accounting Policies, Changes in Accounting Estimates and Errors’, which requires entities to disclose any new IFRSs that are in issue but not yet effective and which are likely to impact a company.

Download pdf to learn more about:

  • IFRS 9 Financial Instruments
  • IFRS 15 Revenue from Contracts with Customers
  • IFRS 16 Leases
  • IFRS 14 Regulatory Deferral Accounts

Revised standards

  • Accounting for Acquisitions of Interests in Joint Operations (Amendments to IFRS 11)
  • Clarification of Acceptable Methods of Depreciation and Amortisation (Amendments to IAS 16 and IAS 38)
  • Agriculture: Bearer Plants (Amendments to IAS 16 and IAS 41)
  • Equity Method in Separate Financial Statements (Amendments to IAS 27)
  • Annual Improvements 2012-2014 Cycle
  • Disclosure Initiative (Amendments to IAS 1)
  • Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28)
  • Recognition of Deferred Tax Assets for Unrealised Losses (Amendments to IAS 12)
  • Disclosure Initiative (Amendments to IAS 7)
  • Classification and Measurement of Share-based Payment Transactions (Amendments to IFRS 2)
  • Applying IFRS 9 'Financial Instruments' with IFRS 4 'Insurance Contracts' (Amendments to IFRS 4)
New and revised IFRS
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