Commission Regulation (EC) No 1126/2008 of 3 November 2008 adopting certain inter... (32008R1126)
Commission Regulation (EC) No 1126/2008 of 3 November 2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council (Text with EEA relevance)
- COMMISSION REGULATION (EC)
- No 1126/2008
- of 3 November 2008
- adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council
- (Text with EEA relevance)
- Article 1
- Article 2
- Article 3
- ANNEX
- INTERNATIONAL ACCOUNTING STANDARDS
- INTERNATIONAL ACCOUNTING STANDARD 1
- Presentation of financial statements
- OBJECTIVE
- SCOPE
- PURPOSE OF FINANCIAL STATEMENTS
- COMPONENTS OF FINANCIAL STATEMENTS
- DEFINITIONS
- OVERALL CONSIDERATIONS
- Fair presentation and compliance with IFRSs
- Going concern
- Accrual basis of accounting
- Consistency of presentation
- Materiality and aggregation
- Offsetting
- Comparative information
- STRUCTURE AND CONTENT
- Introduction
- Identification of the financial statements
- Reporting period
- Balance sheet
- Current/non-current distinction
- Current assets
- Current liabilities
- Information to be presented on the face of the balance sheet
- Information to be presented either on the face of the balance sheet or in the notes
- Income statement
- Profit or loss for the period
- Information to be presented on the face of the income statement
- Information to be presented either on the face of the income statement or in the notes
- Statement of changes in equity
- Cash-flow statement
- Notes
- Structure
- Disclosure of accounting policies
- Key sources of estimation uncertainty
- Capital
- Other disclosures
- EFFECTIVE DATE
- WITHDRAWAL OF IAS 1 (REVISED 1997)
- INTERNATIONAL ACCOUNTING STANDARD 2
- Inventories
- OBJECTIVE
- SCOPE
- DEFINITIONS
- MEASUREMENT OF INVENTORIES
- Cost of inventories
- Costs of purchase
- Costs of conversion
- Other costs
- Cost of inventories of a service provider
- Cost of agricultural produce harvested from biological assets
- Techniques for the measurement of cost
- Cost formulas
- Net realisable value
- RECOGNITION AS AN EXPENSE
- DISCLOSURE
- EFFECTIVE DATE
- WITHDRAWAL OF OTHER PRONOUNCEMENTS
- INTERNATIONAL ACCOUNTING STANDARD 7
- Cash-flow statements
- OBJECTIVE
- SCOPE
- BENEFITS OF CASH FLOW INFORMATION
- DEFINITIONS
- Cash and cash equivalents
- PRESENTATION OF A CASH-FLOW STATEMENT
- Operating activities
- Investing activities
- Financing activities
- REPORTING CASH FLOWS FROM OPERATING ACTIVITIES
- REPORTING CASH FLOWS FROM INVESTING AND FINANCING ACTIVITIES
- REPORTING CASH FLOWS ON A NET BASIS
- FOREIGN CURRENCY CASH FLOWS
- INTEREST AND DIVIDENDS
- TAXES ON INCOME
- INVESTMENTS IN SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES
- ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES AND OTHER BUSINESS UNITS
- NON-CASH TRANSACTIONS
- COMPONENTS OF CASH AND CASH EQUIVALENTS
- OTHER DISCLOSURES
- EFFECTIVE DATE
- INTERNATIONAL ACCOUNTING STANDARD 8
- Accounting policies, changes in accounting estimates and errors
- OBJECTIVE
- SCOPE
- DEFINITIONS
- ACCOUNTING POLICIES
- Selection and application of accounting policies
- Consistency of accounting policies
- Changes in accounting policies
- Applying changes in accounting policies
- Retrospective application
- Limitations on retrospective application
- Disclosure
- CHANGES IN ACCOUNTING ESTIMATES
- Disclosure
- ERRORS
- Limitations on retrospective restatement
- Disclosure of prior period errors
- IMPRACTICABILITY IN RESPECT OF RETROSPECTIVE APPLICATION AND RETROSPECTIVE RESTATEMENT
- EFFECTIVE DATE
- WITHDRAWAL OF OTHER PRONOUNCEMENTS
- INTERNATIONAL ACCOUNTING STANDARD 10
- Events after the balance sheet date
- OBJECTIVE
- SCOPE
- DEFINITIONS
- RECOGNITION AND MEASUREMENT
- Adjusting events after the balance sheet date
- Non-adjusting events after the balance sheet date
- Dividends
- GOING CONCERN
- DISCLOSURE
- Date of authorisation for issue
- Updating disclosure about conditions at the balance sheet date
- Non-adjusting events after the balance sheet date
- EFFECTIVE DATE
- WITHDRAWAL OF IAS 10 (REVISED 1999)
- INTERNATIONAL ACCOUNTING STANDARD 11
- Construction contracts
- OBJECTIVE
- SCOPE
- DEFINITIONS
- COMBINING AND SEGMENTING CONSTRUCTION CONTRACTS
- CONTRACT REVENUE
- CONTRACT COSTS
- RECOGNITION OF CONTRACT REVENUE AND EXPENSES
- RECOGNITION OF EXPECTED LOSSES
- CHANGES IN ESTIMATES
- DISCLOSURE
- EFFECTIVE DATE
- INTERNATIONAL ACCOUNTING STANDARD 12
- Income taxes
- OBJECTIVE
- SCOPE
- DEFINITIONS
- Tax base
- RECOGNITION OF CURRENT TAX LIABILITIES AND CURRENT TAX ASSETS
- RECOGNITION OF DEFERRED TAX LIABILITIES AND DEFERRED TAX ASSETS
- TAXABLE TEMPORARY DIFFERENCES
- Business combinations
- Assets carried at fair value
- Goodwill
- Initial recognition of an asset or liability
- Deductible temporary differences
- Initial recognition of an asset or liability
- Unused tax losses and unused tax credits
- Reassessment of unrecognised deferred tax assets
- Investments in subsidiaries, branches and associates and interests in joint ventures
- MEASUREMENT
- RECOGNITION OF CURRENT AND DEFERRED TAX
- Income statement
- Items credited or charged directly to equity
- Deferred tax arising from a business combination
- Current and deferred tax arising from share-based payment transactions
- PRESENTATION
- Tax assets and tax liabilities
- Offset
- Tax expense
- Tax expense (income) related to profit or loss from ordinary activities
- Exchange differences on deferred foreign tax liabilities or assets
- DISCLOSURE
- EFFECTIVE DATE
- INTERNATIONAL ACCOUNTING STANDARD 16
- Property, plant and equipment
- OBJECTIVE
- SCOPE
- DEFINITIONS
- RECOGNITION
- Initial costs
- Subsequent costs
- MEASUREMENT AT RECOGNITION
- Elements of cost
- Measurement of cost
- MEASUREMENT AFTER RECOGNITION
- Cost model
- Revaluation model
- Depreciation
- Depreciable amount and depreciation period
- Depreciation method
- Impairment
- Compensation for impairment
- DERECOGNITION
- DISCLOSURE
- TRANSITIONAL PROVISIONS
- EFFECTIVE DATE
- WITHDRAWAL OF OTHER PRONOUNCEMENTS
- INTERNATIONAL ACCOUNTING STANDARD 17
- Leases
- OBJECTIVE
- SCOPE
- DEFINITIONS
- CLASSIFICATION OF LEASES
- LEASES IN THE FINANCIAL STATEMENTS OF LESSEES
- Finance leases
- Initial recognition
- Subsequent measurement
- Operating leases
- LEASES IN THE FINANCIAL STATEMENTS OF LESSORS
- Finance leases
- Initial recognition
- Subsequent measurement
- Operating leases
- SALE AND LEASEBACK TRANSACTIONS
- TRANSITIONAL PROVISIONS
- EFFECTIVE DATE
- WITHDRAWAL OF IAS 17 (REVISED 1997)
- INTERNATIONAL ACCOUNTING STANDARD 18
- Revenue
- OBJECTIVE
- SCOPE
- DEFINITIONS
- MEASUREMENT OF REVENUE
- IDENTIFICATION OF THE TRANSACTION
- SALE OF GOODS
- RENDERING OF SERVICES
- INTEREST, ROYALTIES AND DIVIDENDS
- DISCLOSURE
- EFFECTIVE DATE
- INTERNATIONAL ACCOUNTING STANDARD 19
- Employee benefits
- OBJECTIVE
- SCOPE
- DEFINITIONS
- SHORT-TERM EMPLOYEE BENEFITS
- Recognition and measurement
- All short-term employee benefits
- Short-term compensated absences
- Profit-sharing and bonus plans
- Disclosure
- POST-EMPLOYMENT BENEFITS: DISTINCTION BETWEEN DEFINED CONTRIBUTION PLANS AND DEFINED BENEFIT PLANS
- Multi-employer plans
- Defined benefit plans that share risks between various entities under common control
- State plans
- Insured benefits
- POST-EMPLOYMENT BENEFITS: DEFINED CONTRIBUTION PLANS
- Recognition and measurement
- Disclosure
- POST-EMPLOYMENT BENEFITS: DEFINED BENEFIT PLANS
- Recognition and measurement
- Accounting for the constructive obligation
- Balance sheet
- Profit or loss
- Recognition and measurement: present value of defined benefit obligations and current service cost
- Actuarial valuation method
- Attributing benefit to periods of service
- Actuarial assumptions
- Actuarial assumptions: discount rate
- Actuarial assumptions: salaries, benefits and medical costs
- Actuarial gains and losses
- Past service cost
- Recognition and measurement: plan assets
- Fair value of plan assets
- Reimbursements
- Return on plan assets
- Business combinations
- Curtailments and settlements
- Presentation
- Offset
- Current/non-current distinction
- Financial components of post-employment benefit costs
- Disclosure
- OTHER LONG-TERM EMPLOYEE BENEFITS
- Recognition and measurement
- Disclosure
- TERMINATION BENEFITS
- Recognition
- Measurement
- Disclosure
- TRANSITIONAL PROVISIONS
- EFFECTIVE DATE
- INTERNATIONAL ACCOUNTING STANDARD 20
- Accounting for government grants and disclosure of government assistance
- SCOPE
- DEFINITIONS
- GOVERNMENT GRANTS
- Non-monetary government grants
- Presentation of grants related to assets
- Presentation of grants related to income
- Repayment of government grants
- GOVERNMENT ASSISTANCE
- DISCLOSURE
- TRANSITIONAL PROVISIONS
- EFFECTIVE DATE
- INTERNATIONAL ACCOUNTING STANDARD 21
- The effects of changes in foreign exchange rates
- OBJECTIVE
- SCOPE
- DEFINITIONS
- Elaboration on the definitions
- Functional currency
- Net investment in a foreign operation
- Monetary items
- SUMMARY OF THE APPROACH REQUIRED BY THIS STANDARD
- REPORTING FOREIGN CURRENCY TRANSACTIONS IN THE FUNCTIONAL CURRENCY
- Initial recognition
- Reporting at subsequent balance sheet dates
- Recognition of exchange differences
- Change in functional currency
- USE OF A PRESENTATION CURRENCY OTHER THAN THE FUNCTIONAL CURRENCY
- Translation to the presentation currency
- Translation of a foreign operation
- Disposal of a foreign operation
- TAX EFFECTS OF ALL EXCHANGE DIFFERENCES
- DISCLOSURE
- EFFECTIVE DATE AND TRANSITION
- WITHDRAWAL OF OTHER PRONOUNCEMENTS
- INTERNATIONAL ACCOUNTING STANDARD 23
- Borrowing costs
- OBJECTIVE
- SCOPE
- DEFINITIONS
- BORROWING COSTS — BENCHMARK TREATMENT
- Recognition
- Disclosure
- BORROWING COSTS — ALLOWED ALTERNATIVE TREATMENT
- Recognition
- Borrowing costs eligible for capitalisation
- Excess of the carrying amount of the qualifying asset over recoverable amount
- Commencement of capitalisation
- Suspension of capitalisation
- Cessation of capitalisation
- DISCLOSURE
- TRANSITIONAL PROVISIONS
- EFFECTIVE DATE
- INTERNATIONAL ACCOUNTING STANDARD 24
- Related party disclosures
- OBJECTIVE
- SCOPE
- PURPOSE OF RELATED PARTY DISCLOSURES
- DEFINITIONS
- DISCLOSURE
- EFFECTIVE DATE
- WITHDRAWAL OF IAS 24 (REFORMATTED 1994)
- INTERNATIONAL ACCOUNTING STANDARD 26
- Accounting and reporting by retirement benefit plans
- SCOPE
- DEFINITIONS
- DEFINED CONTRIBUTION PLANS
- DEFINED BENEFIT PLANS
- Actuarial present value of promised retirement benefits
- Frequency of actuarial valuations
- Financial statement content
- ALL PLANS
- Valuation of plan assets
- Disclosure
- EFFECTIVE DATE
- INTERNATIONAL ACCOUNTING STANDARD 27
- Consolidated and separate financial statements
- SCOPE
- DEFINITIONS
- PRESENTATION OF CONSOLIDATED FINANCIAL STATEMENTS
- SCOPE OF CONSOLIDATED FINANCIAL STATEMENTS
- CONSOLIDATION PROCEDURES
- ACCOUNTING FOR INVESTMENTS IN SUBSIDIARIES, JOINTLY CONTROLLED ENTITIES AND ASSOCIATES IN SEPARATE FINANCIAL STATEMENTS
- DISCLOSURE
- EFFECTIVE DATE
- WITHDRAWAL OF OTHER PRONOUNCEMENTS
- INTERNATIONAL ACCOUNTING STANDARD 28
- Investments in associates
- SCOPE
- DEFINITIONS
- Significant influence
- Equity method
- APPLICATION OF THE EQUITY METHOD
- Impairment losses
- SEPARATE FINANCIAL STATEMENTS
- DISCLOSURE
- EFFECTIVE DATE
- WITHDRAWAL OF OTHER PRONOUNCEMENTS
- INTERNATIONAL ACCOUNTING STANDARD 29
- Financial reporting in hyperinflationary economies
- SCOPE
- THE RESTATEMENT OF FINANCIAL STATEMENTS
- Historical cost financial statements
- Balance sheet
- Income statement
- Gain or loss on net monetary position
- Current cost financial statements
- Balance sheet
- Income statement
- Gain or loss on net monetary position
- Taxes
- Cash-flow statement
- Corresponding figures
- Consolidated financial statements
- Selection and use of the general price index
- ECONOMIES CEASING TO BE HYPERINFLATIONARY
- DISCLOSURES
- EFFECTIVE DATE
- INTERNATIONAL ACCOUNTING STANDARD 31
- Interests in joint ventures
- SCOPE
- DEFINITIONS
- Forms of joint venture
- Joint control
- Contractual arrangement
- JOINTLY CONTROLLED OPERATIONS
- JOINTLY CONTROLLED ASSETS
- JOINTLY CONTROLLED ENTITIES
- Financial statements of a venturer
- Proportionate consolidation
- Equity method
- Exceptions to proportionate consolidation and equity method
- Separate financial statements of a venturer
- TRANSACTIONS BETWEEN A VENTURER AND A JOINT VENTURE
- REPORTING INTERESTS IN JOINT VENTURES IN THE FINANCIAL STATEMENTS OF AN INVESTOR
- OPERATORS OF JOINT VENTURES
- DISCLOSURE
- EFFECTIVE DATE
- WITHDRAWAL OF IAS 31 (REVISED 2000)
- INTERNATIONAL ACCOUNTING STANDARD 32
- Financial instruments: presentation
- OBJECTIVE
- SCOPE
- DEFINITIONS (SEE ALSO PARAGRAPHS AG3-AG23)
- PRESENTATION
- Liabilities and equity (see also paragraphs AG25-AG29)
- No contractual obligation to deliver cash or another financial asset (paragraph 16(a))
- Settlement in the entity's own equity instruments (paragraph 16(b))
- Contingent settlement provisions
- Settlement options
- Compound financial instruments (see also paragraphs AG30-AG35 and Illustrative Examples 9-12)
- Treasury shares (see also paragraph AG36)
- Interest, dividends, losses and gains (see also paragraph AG37)
- Offsetting a financial asset and a financial liability (see also paragraphs AG38 and AG39)
- DISCLOSURE
- EFFECTIVE DATE
- WITHDRAWAL OF OTHER PRONOUNCEMENTS
- Appendix
- APPLICATION GUIDANCE
- IAS 32 Financial instruments: presentation
- DEFINITIONS (PARAGRAPHS 11-14)
- Financial assets and financial liabilities
- Equity instruments
- Derivative financial instruments
- Contracts to buy or sell non-financial items (paragraphs 8-10)
- PRESENTATION
- Liabilities and equity (paragraphs 15-27)
- No contractual obligation to deliver cash or another financial asset (paragraphs 17-20)
- Settlement in the entity's own equity instruments (paragraphs 21-24)
- Contingent settlement provisions (paragraph 25)
- Treatment in consolidated financial statements
- Compound financial instruments (paragraphs 28-32)
- Treasury shares (paragraphs 33 and 34)
- Interest, dividends, losses and gains (paragraphs 35-41)
- Offsetting a financial asset and a financial liability (paragraphs 42-50)
- DISCLOSURE
- Financial assets and financial liabilities at fair value through profit or loss (paragraph 94(f))
- INTERNATIONAL ACCOUNTING STANDARD 33
- Earnings per share
- OBJECTIVE
- SCOPE
- DEFINITIONS
- MEASUREMENT
- Basic earnings per share
- Earnings
- Shares
- Diluted earnings per share
- Earnings
- Shares
- Dilutive potential ordinary shares
- Options, warrants and their equivalents
- Convertible instruments
- Contingently issuable shares
- Contracts that may be settled in ordinary shares or cash
- Purchased options
- Written put options
- RETROSPECTIVE ADJUSTMENTS
- PRESENTATION
- DISCLOSURE
- EFFECTIVE DATE
- WITHDRAWAL OF OTHER PRONOUNCEMENTS
- Appendix A
- APPLICATION GUIDANCE
- PROFIT OR LOSS ATTRIBUTABLE TO THE PARENT ENTITY
- RIGHTS ISSUES
- CONTROL NUMBER
- AVERAGE MARKET PRICE OF ORDINARY SHARES
- OPTIONS, WARRANTS AND THEIR EQUIVALENTS
- WRITTEN PUT OPTIONS
- INSTRUMENTS OF SUBSIDIARIES, JOINT VENTURES OR ASSOCIATES
- PARTICIPATING EQUITY INSTRUMENTS AND TWO-CLASS ORDINARY SHARES
- PARTLY PAID SHARES
- INTERNATIONAL ACCOUNTING STANDARD 34
- Interim financial reporting
- OBJECTIVE
- SCOPE
- DEFINITIONS
- CONTENT OF AN INTERIM FINANCIAL REPORT
- Minimum components of an interim financial report
- Form and content of interim financial statements
- Selected explanatory notes
- Disclosure of compliance with IFRSs
- Periods for which interim financial statements are required to be presented
- Materiality
- DISCLOSURE IN ANNUAL FINANCIAL STATEMENTS
- RECOGNITION AND MEASUREMENT
- Same accounting policies as annual
- Revenues received seasonally, cyclically, or occasionally
- Costs incurred unevenly during the financial year
- Applying the recognition and measurement principles
- Use of estimates
- RESTATEMENT OF PREVIOUSLY REPORTED INTERIM PERIODS
- EFFECTIVE DATE
- INTERNATIONAL ACCOUNTING STANDARD 36
- Impairment of assets
- OBJECTIVE
- SCOPE
- DEFINITIONS
- IDENTIFYING AN ASSET THAT MAY BE IMPAIRED
- MEASURING RECOVERABLE AMOUNT
- Measuring the recoverable amount of an intangible asset with an indefinite useful life
- Fair value less costs to sell
- Value in use
- Basis for estimates of future cash flows
- Composition of estimates of future cash flows
- Foreign currency future cash flows
- Discount rate
- RECOGNISING AND MEASURING AN IMPAIRMENT LOSS
- CASH-GENERATING UNITS AND GOODWILL
- Identifying the cash-generating unit to which an asset belongs
- Recoverable amount and carrying amount of a cash-generating unit
- Goodwill
- Allocating goodwill to cash-generating units
- Testing cash-generating units with goodwill for impairment
- Minority interest
- Timing of impairment tests
- Corporate assets
- Impairment loss for a cash-generating unit
- REVERSING AN IMPAIRMENT LOSS
- Reversing an impairment loss for an individual asset
- Reversing an impairment loss for a cash-generating unit
- Reversing an impairment loss for goodwill
- DISCLOSURE
- Estimates used to measure recoverable amounts of cash-generating units containing goodwill or intangible assets with indefinite useful lives
- Transitional provisions and effective date
- Withdrawal of IAS 36 (issued 1998)
- Appendix A
- USING PRESENT VALUE TECHNIQUES TO MEASURE VALUE IN USE
- The components of a present value measurement
- General principles
- Traditional and expected cash flow approaches to present value
- Traditional approach
- Expected cash flow approach
- Discount rate
- INTERNATIONAL ACCOUNTING STANDARD 37
- Provisions, contingent liabilities and contingent assets
- OBJECTIVE
- SCOPE
- DEFINITIONS
- Provisions and other liabilities
- Relationship between provisions and contingent liabilities
- RECOGNITION
- Provisions
- Present obligation
- Past event
- Probable outflow of resources embodying economic benefits
- Reliable estimate of the obligation
- Contingent liabilities
- Contingent assets
- MEASUREMENT
- Best estimate
- Risks and uncertainties
- Present value
- Future events
- Expected disposal of assets
- REIMBURSEMENTS
- CHANGES IN PROVISIONS
- USE OF PROVISIONS
- APPLICATION OF THE RECOGNITION AND MEASUREMENT RULES
- Future operating losses
- Onerous contracts
- Restructuring
- DISCLOSURE
- TRANSITIONAL PROVISIONS
- EFFECTIVE DATE
- INTERNATIONAL ACCOUNTING STANDARD 38
- Intangible assets
- OBJECTIVE
- SCOPE
- DEFINITIONS
- Intangible assets
- Identifiability
- Control
- Future economic benefits
- RECOGNITION AND MEASUREMENT
- Separate acquisition
- Acquisition as part of a business combination
- Measuring the fair value of an intangible asset acquired in a business combination
- Subsequent expenditure on an acquired in-process research and development project
- Acquisition by way of a government grant
- Exchanges of assets
- Internally generated goodwill
- Internally generated intangible assets
- Research phase
- Development phase
- Cost of an internally generated intangible asset
- RECOGNITION OF AN EXPENSE
- Past expenses not to be recognised as an asset
- MEASUREMENT AFTER RECOGNITION
- Cost model
- Revaluation model
- USEFUL LIFE
- INTANGIBLE ASSETS WITH FINITE USEFUL LIVES
- Amortisation period and amortisation method
- Residual value
- Review of amortisation period and amortisation method
- INTANGIBLE ASSETS WITH INDEFINITE USEFUL LIVES
- Review of useful life assessment
- RECOVERABILITY OF THE CARRYING AMOUNT — IMPAIRMENT LOSSES
- RETIREMENTS AND DISPOSALS
- DISCLOSURE
- General
- Intangible assets measured after recognition using the revaluation model
- Research and development expenditure
- Other information
- TRANSITIONAL PROVISIONS AND EFFECTIVE DATE
- Exchanges of similar assets
- Early application
- WITHDRAWAL OF IAS 38 (ISSUED 1998)
- INTERNATIONAL ACCOUNTING STANDARD 39
- Financial instruments: recognition and measurement
- OBJECTIVE
- SCOPE
- DEFINITIONS
- Definition of a derivative
- Definitions of four categories of financial instruments
- Definition of a financial guarantee contract
- Definitions relating to recognition and measurement
- Definitions relating to hedge accounting
- EMBEDDED DERIVATIVES
- RECOGNITION AND DERECOGNITION
- Initial recognition
- Derecognition of a financial asset
- Transfers that qualify for derecognition (see paragraph 20(a) and (c)(i))
- Transfers that do not qualify for derecognition (see paragraph 20(b))
- Continuing involvement in transferred assets (see paragraph 20(c)(ii))
- All transfers
- Regular way purchase or sale of a financial asset
- Derecognition of a financial liability
- MEASUREMENT
- Initial measurement of financial assets and financial liabilities
- Subsequent measurement of financial assets
- Subsequent measurement of financial liabilities
- Fair value measurement considerations
- Reclassifications
- Gains and losses
- Impairment and uncollectability of financial assets
- Financial assets carried at amortised cost
- Financial assets carried at cost
- Available-for-sale financial assets
- HEDGING
- Hedging instruments
- Qualifying instruments
- Designation of hedging instruments
- Hedged items
- Qualifying items
- Designation of financial items as hedged items
- Designation of non-financial items as hedged items
- Designation of groups of items as hedged items
- Hedge accounting
- Fair value hedges
- Cash flow hedges
- Hedges of a net investment
- EFFECTIVE DATE AND TRANSITION
- WITHDRAWAL OF OTHER PRONOUNCEMENTS
- Appendix A
- Application guidance
- SCOPE (paragraphs 2-7)
- DEFINITIONS (paragraphs 8 and 9)
- Designation as at fair value through profit or loss
- Paragraph 9(b)(i): Designation eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise
- Paragraph 9(b)(ii): A group of financial assets, financial liabilities or both is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy
- Effective interest rate
- Derivatives
- Transaction costs
- Financial assets and financial liabilities held for trading
- Held-to-maturity investments
- Loans and receivables
- EMBEDDED DERIVATIVES (paragraphs 10-13)
- Instruments containing embedded derivatives
- RECOGNITION AND DERECOGNITION (paragraphs 14-42)
- Initial recognition (paragraph 14)
- Derecognition of a financial asset (paragraphs 15-37)
- Arrangements under which an entity retains the contractual rights to receive the cash flows of a financial asset, but assumes a contractual obligation to pay the cash flows to one or more recipients (paragraph 18(b))
- Evaluation of the transfer of risks and rewards of ownership (paragraph 20)
- Evaluation of the transfer of control
- Transfers that qualify for derecognition
- Transfers that do not qualify for derecognition
- Continuing involvement in transferred assets
- All assets
- Assets measured at amortised cost
- Assets measured at fair value
- All transfers
- Examples
- Regular way purchase or sale of a financial asset (paragraph 38)
- Derecognition of a financial liability (paragraphs 39-42)
- MEASUREMENT (paragraphs 43-70)
- Initial measurement of financial assets and financial liabilities (paragraph 43)
- Subsequent measurement of financial assets (paragraphs 45 and 46)
- Fair value measurement considerations (paragraphs 48-49)
- Active market: quoted price
- No active market: valuation technique
- No active market: equity instruments
- Inputs to valuation techniques
- Gains and losses (paragraphs 55-57)
- Impairment and uncollectability of financial assets (paragraphs 58-70)
- Financial assets carried at amortised cost (paragraphs 63-65)
- Interest income after impairment recognition
- HEDGING (paragraphs 71-102)
- Hedging instruments (paragraphs 72-77)
- Qualifying instruments (paragraphs 72 and 73)
- Hedged items (paragraphs 78-84)
- Qualifying items (paragraphs 78-80)
- Designation of financial items as hedged items (paragraphs 81 and 81A)
- Designation of non-financial items as hedged items (paragraph 82)
- Designation of groups of items as hedged items (paragraphs 83 and 84)
- Hedge accounting (paragraphs 85-102)
- Assessing hedge effectiveness
- Fair value hedge accounting for a portfolio hedge of interest rate risk
- TRANSITION (paragraphs 103-108b)
- INTERNATIONAL ACCOUNTING STANDARD 40
- Investment property
- OBJECTIVE
- SCOPE
- DEFINITIONS
- RECOGNITION
- MEASUREMENT AT RECOGNITION
- MEASUREMENT AFTER RECOGNITION
- Accounting policy
- Fair value model
- Inability to determine fair value reliably
- Cost model
- TRANSFERS
- DISPOSALS
- DISCLOSURE
- Fair value model and cost model
- Fair value model
- Cost model
- TRANSITIONAL PROVISIONS
- Fair value model
- Cost model
- EFFECTIVE DATE
- WITHDRAWAL OF IAS 40 (2000)
- INTERNATIONAL ACCOUNTING STANDARD 41
- Agriculture
- OBJECTIVE
- SCOPE
- DEFINITIONS
- Agriculture-related definitions
- General definitions
- RECOGNITION AND MEASUREMENT
- Gains and losses
- Inability to measure fair value reliably
- GOVERNMENT GRANTS
- DISCLOSURE
- General
- Additional disclosures for biological assets where fair value cannot be measured reliably
- Government grants
- EFFECTIVE DATE AND TRANSITION
- INTERNATIONAL FINANCIAL REPORTING STANDARD 1
- First-time adoption of international financial reporting standards
- OBJECTIVE
- SCOPE
- RECOGNITION AND MEASUREMENT
- Opening IFRS balance sheet
- Accounting policies
- Exemptions from other IFRSs
- Business combinations
- Fair value or revaluation as deemed cost
- Employee benefits
- Cumulative translation differences
- Compound financial instruments
- Assets and liabilities of subsidiaries, associates and joint ventures
- Designation of previously recognised financial instruments
- Share-based payment transactions
- Insurance contracts
- Changes in existing decommissioning, restoration and similar liabilities included in the cost of property, plant and equipment
- Leases
- Fair value measurement of financial assets or financial liabilities
- Exceptions to retrospective application of other IFRSs
- Derecognition of financial assets and financial liabilities
- Hedge accounting
- Estimates
- Assets classified as held for sale and discontinued operations
- PRESENTATION AND DISCLOSURE
- Comparative information
- Exemption from the requirement to restate comparative information for IAS 39 and IFRS 4
- Exemption from the requirement to present comparative information for IFRS 6
- Exemption from the requirement to provide comparative disclosures for IFRS 7
- Non-IFRS comparative information and historical summaries
- Explanation of transition to IFRSs
- Reconciliations
- Designation of financial assets or financial liabilities
- Use of fair value as deemed cost
- Interim financial reports
- EFFECTIVE DATE
- Appendix A
- Defined terms
- Appendix B
- Business combinations
- INTERNATIONAL FINANCIAL REPORTING STANDARD 2
- Share-based payment
- OBJECTIVE
- SCOPE
- RECOGNITION
- EQUITY-SETTLED SHARE-BASED PAYMENT TRANSACTIONS
- Overview
- Transactions in which services are received
- Transactions measured by reference to the fair value of the equity instruments granted
- Determining the fair value of equity instruments granted
- Treatment of vesting conditions
- Treatment of a reload feature
- After vesting date
- If the fair value of the equity instruments cannot be estimated reliably
- Modifications to the terms and conditions on which equity instruments were granted, including cancellations and settlements
- CASH-SETTLED SHARE-BASED PAYMENT TRANSACTIONS
- SHARE-BASED PAYMENT TRANSACTIONS WITH CASH ALTERNATIVES
- Share-based payment transactions in which the terms of the arrangement provide the counterparty with a choice of settlement
- Share-based payment transactions in which the terms of the arrangement provide the entity with a choice of settlement
- DISCLOSURES
- TRANSITIONAL PROVISIONS
- EFFECTIVE DATE
- Appendix A
- Defined terms
- Appendix B
- Application Guidance
- Estimating the fair value of equity instruments granted
- Shares
- Share options
- Inputs to option pricing models
- Expected early exercise
- Expected volatility
- Newly listed entities
- Unlisted entities
- Expected dividends
- Risk-free interest rate
- Capital structure effects
- Modifications to equity-settled share-based payment arrangements
- INTERNATIONAL FINANCIAL REPORTING STANDARD 3
- Business combinations
- OBJECTIVE
- SCOPE
- Identifying a business combination
- Business combinations involving entities under common control
- METHOD OF ACCOUNTING
- APPLICATION OF THE PURCHASE METHOD
- Identifying the acquirer
- Cost of a business combination
- Adjustments to the cost of a business combination contingent on future events
- Allocating the cost of a business combination to the assets acquired and liabilities and contingent liabilities assumed
- Acquiree's identifiable assets and liabilities
- Acquiree's intangible assets
- Acquiree's contingent liabilities
- Goodwill
- Excess of acquirer's interest in the net fair value of acquiree's identifiable assets, liabilities and contingent liabilities over cost
- Business combination achieved in stages
- Initial accounting determined provisionally
- Adjustments after the initial accounting is complete
- Recognition of deferred tax assets after the initial accounting is complete
- DISCLOSURE
- TRANSITIONAL PROVISIONS AND EFFECTIVE DATE
- Previously recognised goodwill
- Previously recognised negative goodwill
- Previously recognised intangible assets
- Equity accounted investments
- Limited retrospective application
- WITHDRAWAL OF OTHER PRONOUNCEMENTS
- Appendix A
- Defined terms
- Appendix B
- Application supplement
- Reverse acquisitions
- Cost of the business combination
- Preparation and presentation of consolidated financial statements
- Minority interest
- Earnings per share
- Allocating the cost of a business combination
- INTERNATIONAL FINANCIAL REPORTING STANDARD 4
- Insurance contracts
- OBJECTIVE
- SCOPE
- Embedded derivatives
- Unbundling of deposit components
- RECOGNITION AND MEASUREMENT
- Temporary exemption from some other IFRSs
- Liability adequacy test
- Impairment of reinsurance assets
- Changes in accounting policies
- Current market interest rates
- Continuation of existing practices
- Prudence
- Future investment margins
- Shadow accounting
- Insurance contracts acquired in a business combination or portfolio transfer
- Discretionary participation features
- Discretionary participation features in insurance contracts
- Discretionary participation features in financial instruments
- DISCLOSURE
- Explanation of recognised amounts
- Nature and extent of risks arising from insurance contracts
- EFFECTIVE DATE AND TRANSITION
- Disclosure
- Redesignation of financial assets
- Appendix A
- Defined terms
- Appendix B
- Definition of an insurance contract
- Uncertain future event
- Payments in kind
- Distinction between insurance risk and other risks
- Examples of insurance contracts
- Significant insurance risk
- Changes in the level of insurance risk
- INTERNATIONAL FINANCIAL REPORTING STANDARD 5
- Non-current assets held for sale and discontinued operations
- OBJECTIVE
- SCOPE
- CLASSIFICATION OF NON-CURRENT ASSETS (OR DISPOSAL GROUPS) AS HELD FOR SALE
- Non-current assets that are to be abandoned
- MEASUREMENT OF NON-CURRENT ASSETS (OR DISPOSAL GROUPS) CLASSIFIED AS HELD FOR SALE
- Measurement of a non-current asset (or disposal group)
- Recognition of impairment losses and reversals
- Changes to a plan of sale
- PRESENTATION AND DISCLOSURE
- Presenting discontinued operations
- Gains or losses relating to continuing operations
- Presentation of a non-current asset or disposal group classified as held for sale
- Additional disclosures
- TRANSITIONAL PROVISIONS
- EFFECTIVE DATE
- WITHDRAWAL OF IAS 35
- Appendix A
- Defined terms
- Appendix B
- Application supplement
- EXTENSION OF THE PERIOD REQUIRED TO COMPLETE A SALE
- INTERNATIONAL FINANCIAL REPORTING STANDARD 6
- Exploration for and evaluation of mineral resources
- OBJECTIVE
- SCOPE
- RECOGNITION OF EXPLORATION AND EVALUATION ASSETS
- Temporary exemption from IAS 8 paragraphs 11 and 12
- MEASUREMENT OF EXPLORATION AND EVALUATION ASSETS
- Measurement at recognition
- Elements of cost of exploration and evaluation assets
- Measurement after recognition
- Changes in accounting policies
- PRESENTATION
- Classification of exploration and evaluation assets
- Reclassification of exploration and evaluation assets
- IMPAIRMENT
- Recognition and measurement
- Specifying the level at which exploration and evaluation assets are assessed for impairment
- DISCLOSURE
- EFFECTIVE DATE
- TRANSITIONAL PROVISIONS
- Appendix A
- Defined terms
- INTERNATIONAL FINANCIAL REPORTING STANDARD 7
- Financial instruments: disclosures
- OBJECTIVE
- SCOPE
- CLASSES OF FINANCIAL INSTRUMENTS AND LEVEL OF DISCLOSURE
- SIGNIFICANCE OF FINANCIAL INSTRUMENTS FOR FINANCIAL POSITION AND PERFORMANCE
- Balance sheet
- Categories of financial assets and financial liabilities
- Financial assets or financial liabilities at fair value through profit or loss
- Reclassification
- Derecognition
- Collateral
- Allowance account for credit losses
- Compound financial instruments with multiple embedded derivatives
- Defaults and breaches
- Income statement and equity
- Items of income, expense, gains or losses
- Other disclosures
- Accounting policies
- Hedge accounting
- Fair value
- NATURE AND EXTENT OF RISKS ARISING FROM FINANCIAL INSTRUMENTS
- Qualitative disclosures
- Quantitative disclosures
- Credit risk
- Financial assets that are either past due or impaired
- Collateral and other credit enhancements obtained
- Liquidity risk
- Market risk
- Sensitivity analysis
- Other market risk disclosures
- EFFECTIVE DATE AND TRANSITION
- WITHDRAWAL OF IAS 30
- Appendix A
- Defined terms
- Appendix B
- Application Guidance
- CLASSES OF FINANCIAL INSTRUMENTS AND LEVEL OF DISCLOSURE (PARAGRAPH 6)
- SIGNIFICANCE OF FINANCIAL INSTRUMENTS FOR FINANCIAL POSITION AND PERFORMANCE
- Financial liabilities at fair value through profit or loss (paragraphs 10 and 11)
- Other disclosure — accounting policies (paragraph 21)
- NATURE AND EXTENT OF RISKS ARISING FROM FINANCIAL INSTRUMENTS (PARAGRAPHS 31-42)
- Quantitative disclosures (paragraph 34)
- Maximum credit risk exposure (paragraph 36(a))
- Contractual maturity analysis (paragraph 39(a))
- Market risk — sensitivity analysis (paragraphs 40 and 41)
- Interest rate risk
- Currency risk
- Other price risk
- INTERNATIONAL FINANCIAL REPORTING STANDARD 8
- Operating segments
- CORE PRINCIPLE
- SCOPE
- OPERATING SEGMENTS
- REPORTABLE SEGMENTS
- Aggregation criteria
- Quantitative thresholds
- DISCLOSURE
- General information
- Information about profit or loss, assets and liabilities
- MEASUREMENT
- Reconciliations
- Restatement of previously reported information
- ENTITY-WIDE DISCLOSURES
- Information about products and services
- Information about geographical areas
- Information about major customers
- TRANSITION AND EFFECTIVE DATE
- WITHDRAWAL OF IAS 14
- Appendix A
- Defined term
- IFRIC INTERPRETATION 1
- Changes in existing decommissioning, restoration and similar liabilities
- REFERENCES
- BACKGROUND
- SCOPE
- ISSUE
- CONSENSUS
- EFFECTIVE DATE
- TRANSITION
- IFRIC INTERPRETATION 2
- Members' shares in cooperative entities and similar instruments
- REFERENCES
- BACKGROUND
- SCOPE
- ISSUE
- CONSENSUS
- DISCLOSURE
- EFFECTIVE DATE
- Appendix
- Examples of application of the consensus
- UNCONDITIONAL RIGHT TO REFUSE REDEMPTION (paragraph 7)
- Example 1
- Facts
- Classification
- Example 2
- Facts
- Classification
- PROHIBITIONS AGAINST REDEMPTION (paragraphs 8 and 9)
- Example 3
- Facts
- Classification
- Before the governing charter is amended
- After the governing charter is amended
- Example 4
- Facts
- Classification
- Example 5
- Facts
- Classification
- Example 6
- Facts
- Classification
- Example 7
- Facts
- Classification
- IFRIC INTERPRETATION 4
- Determining whether an arrangement contains a lease
- REFERENCES
- BACKGROUND
- SCOPE
- ISSUES
- CONSENSUS
- Determining whether an arrangement is, or contains, a lease
- Fulfilment of the arrangement is dependent on the use of a specific asset
- Arrangement conveys a right to use the asset
- Assessing or reassessing whether an arrangement is, or contains, a lease
- Separating payments for the lease from other payments
- EFFECTIVE DATE
- TRANSITION
- IFRIC INTERPRETATION 5
- Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds
- REFERENCES
- BACKGROUND
- SCOPE
- ISSUES
- CONSENSUS
- Accounting for an interest in a fund
- Accounting for obligations to make additional contributions
- Disclosure
- EFFECTIVE DATE
- TRANSITION
- IFRIC INTERPRETATION 6
- Liabilities arising from participating in a specific market — waste electrical and electronic equipment
- REFERENCES
- BACKGROUND
- SCOPE
- ISSUE
- CONSENSUS
- EFFECTIVE DATE
- TRANSITION
- IFRIC INTERPRETATION 7
- Applying the restatement approach under IAS 29 Financial reporting in hyperinflationary economies
- REFERENCES
- BACKGROUND
- ISSUES
- CONSENSUS
- EFFECTIVE DATE
- IFRIC INTERPRETATION 8
- Scope of IFRS 2
- REFERENCES
- BACKGROUND
- SCOPE
- ISSUE
- CONSENSUS
- EFFECTIVE DATE
- TRANSITION
- IFRIC INTERPRETATION 9
- Reassessment of embedded derivatives
- REFERENCES
- BACKGROUND
- SCOPE
- ISSUES
- CONSENSUS
- EFFECTIVE DATE AND TRANSITION
- IFRIC INTERPRETATION 10
- Interim financial reporting and impairment
- REFERENCES
- BACKGROUND
- ISSUE
- CONSENSUS
- EFFECTIVE DATE AND TRANSITION
- IFRIC INTERPRETATION 11
- IFRS 2 — Group and treasury share transactions
- REFERENCES
- ISSUES
- CONSENSUS
- Share-based payment arrangements involving an entity's own equity instruments (paragraph 1)
- Share-based payment arrangements involving equity instruments of the parent
- A parent grants rights to its equity instruments to the employees of its subsidiary (paragraph 3(a))
- A subsidiary grants rights to equity instruments of its parent to its employees (paragraph 3(b))
- EFFECTIVE DATE
- TRANSITION
- SIC INTERPRETATION 7
- Introduction of the euro
- REFERENCES
- ISSUE
- CONSENSUS
- DATE OF CONSENSUS
- EFFECTIVE DATE
- SIC INTERPRETATION 10
- Government assistance — no specific relation to operating activities
- REFERENCES
- ISSUE
- CONSENSUS
- DATE OF CONSENSUS
- EFFECTIVE DATE
- SIC INTERPRETATION 12
- Consolidation — special purpose entities
- REFERENCES
- ISSUE
- CONSENSUS
- DATE OF CONSENSUS
- EFFECTIVE DATE
- SIC INTERPRETATION 13
- Jointly controlled entities — non-monetary contributions by venturers
- REFERENCES
- ISSUE
- CONSENSUS
- DATE OF CONSENSUS
- EFFECTIVE DATE
- SIC INTERPRETATION 15
- Operating leases — incentives
- REFERENCES
- ISSUE
- CONSENSUS
- DATE OF CONSENSUS
- EFFECTIVE DATE
- SIC INTERPRETATION 21
- Income taxes — recovery of revalued non-depreciable assets
- REFERENCES
- ISSUE
- CONSENSUS
- DATE OF CONSENSUS
- EFFECTIVE DATE
- SIC INTERPRETATION 25
- Income taxes — changes in the tax status of an entity or its shareholders
- REFERENCES
- ISSUE
- CONSENSUS
- DATE OF CONSENSUS
- EFFECTIVE DATE
- SIC INTERPRETATION 27
- Evaluating the substance of transactions involving the legal form of a lease
- REFERENCES
- ISSUE
- CONSENSUS
- DISCLOSURE
- DATE OF CONSENSUS
- EFFECTIVE DATE
- SIC INTERPRETATION 29
- Disclosure — service concession arrangements
- REFERENCES
- ISSUE
- CONSENSUS
- DATE OF CONSENSUS
- EFFECTIVE DATE
- SIC INTERPRETATION 31
- Revenue — barter transactions involving advertising services
- REFERENCES
- ISSUE
- CONSENSUS
- DATE OF CONSENSUS
- EFFECTIVE DATE
- SIC INTERPRETATION 32
- Intangible assets — website costs
- REFERENCES
- ISSUE
- CONSENSUS
- DATE OF CONSENSUS
- EFFECTIVE DATE
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