International Financial Reporting Standards® as issued at 1 January 2009 The consolidated text of International Financial Reporting Standards (IFRSs®) including International Accounting Standards (IASs®) and Interpretations together with their accompanying documents as issued at 1 January 2009
International Accounting Standards Board® 30 Cannon Street London EC4M 6XH United Kingdom Telephone: +44 (0)20 7246 6410 Fax: +44 (0)20 7246 6411 Email:
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[email protected] Web: www.iasb.org
IFRSs together with their accompanying documents are issued by the International Accounting Standards Board (IASB), 30 Cannon Street, London EC4M 6XH, United Kingdom. Tel: +44 (0)20 7246 6410 Fax: +44 (0)20 7246 6411 Email:
[email protected] Web: www.iasb.org ISBN: 978-1-905590-90-2 Copyright © 2009 International Accounting Standards Committee Foundation (IASCF). International Financial Reporting Standards, International Accounting Standards, Interpretations, Exposure Drafts, and other IASB publications are copyright of the IASCF. The approved text of International Financial Reporting Standards, including International Accounting Standards and Interpretations, is that issued by the IASB in the English language. Copies may be obtained from the IASCF Publications Department. Please address publication and copyright matters to: IASC Foundation Publications Department 30 Cannon Street, London EC4M 6XH, United Kingdom. Telephone: +44 (0)20 7332 2730 Fax: +44 (0)20 7332 2749 Email:
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Contents
Changes in this edition
1
Introduction to this edition
5
IASC Foundation Constitution
15
Due Process Handbook for the IASB
29
Due Process Handbook for the IFRIC
55
Preface to International Financial Reporting Standards
67
Framework for the Preparation and Presentation of Financial Statements
73
International Financial Reporting Standards (IFRSs) IFRS 1
First-time Adoption of International Financial Reporting Standards
99
IFRS 2
Share-based Payment
195
IFRS 3
Business Combinations
331
IFRS 4
Insurance Contracts
535
IFRS 5
Non-current Assets Held for Sale and Discontinued Operations
673
IFRS 6
Exploration for and Evaluation of Mineral Resources
725
IFRS 7
Financial Instruments: Disclosures
755
IFRS 8
Operating Segments
827
International Accounting Standards (IASs) IAS 1
Presentation of Financial Statements
891
IAS 2
Inventories
979
IAS 7
Statement of Cash Flows
999
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IAS 8
Accounting Policies, Changes in Accounting Estimates and Errors
1021
IAS 10
Events after the Reporting Period
1053
IAS 11
Construction Contracts
1067
IAS 12
Income Taxes
1083
IAS 16
Property, Plant and Equipment
1141
IAS 17
Leases
1177
IAS 18
Revenue
1205
IAS 19
Employee Benefits
1225
IAS 20
Accounting for Government Grants and Disclosure of Government Assistance
1347
IAS 21
The Effects of Changes in Foreign Exchange Rates
1359
IAS 23
Borrowing Costs
1393
IAS 24
Related Party Disclosures
1413
IAS 26
Accounting and Reporting by Retirement Benefit Plans
1429
IAS 27
Consolidated and Separate Financial Statements
1441
IAS 28
Investments in Associates
1493
IAS 29
Financial Reporting in Hyperinflationary Economies
1517
IAS 31
Interests in Joint Ventures
1527
IAS 32
Financial Instruments: Presentation
1551
IAS 33
Earnings per Share
1641
IAS 34
Interim Financial Reporting
1697
IAS 36
Impairment of Assets
1723
IAS 37
Provisions, Contingent Liabilities and Contingent Assets
1877
IAS 38
Intangible Assets
1911
IAS 39
Financial Instruments: Recognition and Measurement
1983
IAS 40
Investment Property
2299
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IAS 41
Agriculture
2345
Interpretations IFRIC 1
Changes in Existing Decommissioning, Restoration and Similar Liabilities
2389
Members’ Shares in Co-operative Entities and Similar Instruments
2409
IFRIC 4
Determining whether an Arrangement contains a Lease
2427
IFRIC 5
Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
2449
Liabilities arising from Participating in a Specific Market—Waste Electrical and Electronic Equipment
2465
Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies
2473
IFRIC 8
Scope of IFRS 2
2491
IFRIC 9
Reassessment of Embedded Derivatives
2501
IFRIC 2
IFRIC 6
IFRIC 7
IFRIC 10 Interim Financial Reporting and Impairment
2511
IFRIC 11 IFRS 2—Group and Treasury Share Transactions
2519
IFRIC 12 Service Concession Arrangements
2531
IFRIC 13 Customer Loyalty Programmes
2573
IFRIC 14 IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction
2589
IFRIC 15 Agreements for the Construction of Real Estate
2611
IFRIC 16 Hedges of a Net Investment in a Foreign Operation
2631
IFRIC 17 Distributions of Non-cash Assets to Owners
2655
SIC-7
Introduction of the Euro
2677
SIC-10
Government Assistance—No Specific Relation to Operating Activities
2683
SIC-12
Consolidation—Special Purpose Entities
2687
SIC-13
Jointly Controlled Entities—Non-Monetary Contributions by Venturers
2695
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SIC-15
Operating Leases—Incentives
2701
SIC-21
Income Taxes—Recovery of Revalued Non-Depreciable Assets
2707
SIC-25
Income Taxes—Changes in the Tax Status of an Entity or its Shareholders
2711
Evaluating the Substance of Transactions Involving the Legal Form of a Lease
2717
SIC-29
Service Concession Arrangements: Disclosures
2727
SIC-31
Revenue—Barter Transactions Involving Advertising Services
2733
SIC-32
Intangible Assets—Web Site Costs
2739
SIC-27
Approval by the Board of Improvements to IFRSs issued in May 2008
2749
Glossary of Terms
2751
Index
2801
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