<?xml version="1.0" encoding="UTF-8"?>
<rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:wfw="http://wellformedweb.org/CommentAPI/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
	xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
	>

<channel>
	<title>IFRS LIST.com &#187; International</title>
	<atom:link href="http://www.ifrslist.com/tag/international/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.ifrslist.com</link>
	<description>The Community about IAS/IFRS, International Accounting</description>
	<lastBuildDate>Sat, 04 Feb 2012 07:46:24 +0000</lastBuildDate>
	<language>en</language>
	<sy:updatePeriod>hourly</sy:updatePeriod>
	<sy:updateFrequency>1</sy:updateFrequency>
	<generator>http://wordpress.org/?v=3.0.1</generator>
		<item>
		<title>IFRS for Small and Medium Sized Entities (SMEs)</title>
		<link>http://www.ifrslist.com/2009/07/09/ifrs-for-small-and-medium-sized-entities-smes/</link>
		<comments>http://www.ifrslist.com/2009/07/09/ifrs-for-small-and-medium-sized-entities-smes/#comments</comments>
		<pubDate>Thu, 09 Jul 2009 07:39:27 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IFRS FOR SME (SMEs)]]></category>
		<category><![CDATA[FINANCIAL REPORTING STANDARDS]]></category>
		<category><![CDATA[IFRS FOR SME]]></category>
		<category><![CDATA[IFRS FOR SMES]]></category>
		<category><![CDATA[IFRS LIGHT]]></category>
		<category><![CDATA[IFRS PMI]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[SMALL AND MEDIUM SIZED ENTITIES]]></category>
		<category><![CDATA[SMES]]></category>

		<guid isPermaLink="false">http://www.ifrslist.com/?p=1366</guid>
		<description><![CDATA[Dear All
this is just to inform you that the IASB issued today an International Financial Reporting Standard (IFRS) designed for use by small and medium-sized entities (SMEs).
You can download all the related documents 
- Standards
- Basis of Conclusions
- Illustrative Financial Statements Presentation and Disclosure Checklist
here (you need to register at IASB website): 
http://www.iasb.org/IFRS+for+SMEs/IFRS+for+SMEs+and+related+material/IFRS+for+SMEs+and+related+material.htm
In addition you can purchase a printed copy of IFRS for SMEs here:
http://eifrs.iasb.org/eifrs/RegisterMyInterest
Have a good joining
Kind Regards
Simone Salvi


Related posts:IFRS for SMEs &#8211; Free training material by IASC Foundation
News from IASB.org about IFRS for SMEs
Wiley: Applying IFRS for SMEs



Related posts:<ol><li><a href='http://www.ifrslist.com/2010/02/03/ifrs-for-smes-free-training-material-by-iasc-foundation/' rel='bookmark' title='Permanent Link: IFRS for SMEs &#8211; Free training material by IASC Foundation'>IFRS for SMEs &#8211; Free training material by IASC Foundation</a></li>
<li><a href='http://www.ifrslist.com/2009/02/01/news-from-iasborg-about-ifrs-for-smes/' rel='bookmark' title='Permanent Link: News from IASB.org about IFRS for SMEs'>News from IASB.org about IFRS for SMEs</a></li>
<li><a href='http://www.ifrslist.com/2010/09/26/wiley-applying-ifrs-for-smes/' rel='bookmark' title='Permanent Link: Wiley: Applying IFRS for SMEs'>Wiley: Applying IFRS for SMEs</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2009/07/09/ifrs-for-small-and-medium-sized-entities-smes/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>News about IAS/IFRS from EU &#8211; Link to IFRS file (in pdf)</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-message-from-the-moderator-news-about-iasifrs-from-eu-link-to-ifrs-file-in-pdf/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-message-from-the-moderator-news-about-iasifrs-from-eu-link-to-ifrs-file-in-pdf/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:29:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[FINANCIAL REPORTING STANDARDS]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IASB]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[International Accounting]]></category>
		<category><![CDATA[INTERNATIONAL ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[REPORT]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-message-from-the-moderator-news-about-iasifrs-from-eu-link-to-ifrs-file-in-pdf/</guid>
		<description><![CDATA[Dear allPlease find attached a news from European Commission about IFRS.
In addition you&#8217;ll find a link to a pdf file related to consolidated
text of IFRS.Have a good joining.
Regards
Simone SalviAccounting standards: Commission adopts consolidated text of IFRS
applicable in the EUThe European Commission has adopted on Monday 3 November the
consolidated text of all International Financial Reporting Standards
(IFRS) in force in the European Union (EU). The consolidated version
puts together all IFRS endorsed to date, including the latest
amendments endorsed on 15.10.2008. It will enable stakeholders to
refer to only one single legal document. This is ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-ifrs-vs-ias/' rel='bookmark' title='Permanent Link: IFRS vs IAS'>IFRS vs IAS</a></li>
<li><a href='http://www.ifrslist.com/2008/08/27/ifrs-implementation-support/' rel='bookmark' title='Permanent Link: IFRS Implementation Support'>IFRS Implementation Support</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-ias-27-query/' rel='bookmark' title='Permanent Link: IAS-27 query'>IAS-27 query</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/15/fwd-message-from-the-moderator-news-about-iasifrs-from-eu-link-to-ifrs-file-in-pdf/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Request for auditing standard</title>
		<link>http://www.ifrslist.com/2008/12/15/request-for-auditing-standard/</link>
		<comments>http://www.ifrslist.com/2008/12/15/request-for-auditing-standard/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:27:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[AUDIT]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[FOREIGN CURRENCY]]></category>
		<category><![CDATA[FOREX]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 2]]></category>
		<category><![CDATA[IAS 21]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-request-for-auditing-standard/</guid>
		<description><![CDATA[Dear all,


Can you share me the international auditing standard document. Thanks


Danella,I double checked after the comment below, and I agree with Hemant. IAS 21.28 explicitly states that gains/losses on forex should be recognized in P&#38;L. The forex is not attributable to the asset but to the financial liability.http://www.ifac.org/IAASB/
My apologies for my earlier answer.
Regards,
Jeroen


 
 



http://www.ifac.org/Store/Category.tmpl?Category=Auditing%2C%20Assurance%20%26%20Related%20Services


Related posts:PPP
Internal Auditing
Equity investments AFS is a non-monetary items?



Related posts:<ol><li><a href='http://www.ifrslist.com/2008/12/15/ppp/' rel='bookmark' title='Permanent Link: PPP'>PPP</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-internal-auditing/' rel='bookmark' title='Permanent Link: Internal Auditing'>Internal Auditing</a></li>
<li><a href='http://www.ifrslist.com/2008/12/14/equity-investments-afs-is-a-non-monetary-items/' rel='bookmark' title='Permanent Link: Equity investments AFS is a non-monetary items?'>Equity investments AFS is a non-monetary items?</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/15/request-for-auditing-standard/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Exceptional Items vs. Extraordinary Items</title>
		<link>http://www.ifrslist.com/2008/12/15/exceptional-items-vs-extraordinary-items/</link>
		<comments>http://www.ifrslist.com/2008/12/15/exceptional-items-vs-extraordinary-items/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:23:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[DOWNLOAD]]></category>
		<category><![CDATA[EQUITY]]></category>
		<category><![CDATA[FAIR VALUE]]></category>
		<category><![CDATA[GAAP]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 1]]></category>
		<category><![CDATA[IAS 32]]></category>
		<category><![CDATA[IFRS 2]]></category>
		<category><![CDATA[IFRS 3]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[INVESTMENTS]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[NON-RECURRING ITEMS]]></category>
		<category><![CDATA[PROJECT]]></category>
		<category><![CDATA[REPORT]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-re-ifrs-list-exceptional-items-vs-extraordinary-items/</guid>
		<description><![CDATA[Any one please clarify me this&#8230;.
Hari


Hi Team,
Will any one clarify the difference between Exceptional Items &#38;
Extraordinary Items?
With reference to IFRS what is the disclosure policy for the both.
Thanks &#38; Regards,
Hari


Hi Hari,
to my understanding according to IAS 1 there was for several years the
possibility to show extraordinary items in the P+L (IAS 1.85). Since
2004 this seems to be no longer allowed according to Dr. David
Grünberger who is member in the Accounting Regulatory Committee in
Brussels which decides upon the endorsement of new IAS/IFRS standards
within the EU. According to US-GAAP extraordinary items are ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/12/14/equity-investments-afs-is-a-non-monetary-items/' rel='bookmark' title='Permanent Link: Equity investments AFS is a non-monetary items?'>Equity investments AFS is a non-monetary items?</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/please-give-me-an-idea-how-to-treat/' rel='bookmark' title='Permanent Link: PLEASE GIVE ME AN IDEA HOW TO TREAT?'>PLEASE GIVE ME AN IDEA HOW TO TREAT?</a></li>
<li><a href='http://www.ifrslist.com/2008/08/27/asset-held-for-resale/' rel='bookmark' title='Permanent Link: Asset held for resale'>Asset held for resale</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/15/exceptional-items-vs-extraordinary-items/feed/</wfw:commentRss>
		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>IFRS AND IAS</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-ifrs-and-ias/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-ifrs-and-ias/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:21:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS Plus]]></category>
		<category><![CDATA[IASB]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[International Accounting]]></category>
		<category><![CDATA[PROJECT]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-ifrs-and-ias/</guid>
		<description><![CDATA[Dear Friend,
Please inform which website can give me detailed IFRS and IAS access
free of cost. Deloittee IAS PLUS gives summary.
Thanks
Hemant


Hi Hemant
For a summary of the scope of each Standard you may want to rely on
the official site of the International Accounting Standard Board
(www.iasb.org). Detailed information on each standard are instead
subject to a subscription which however provides you also with regular
updates.
Regards
Antonello


Related posts:News about IAS/IFRS from EU &#8211; Link to IFRS file (in pdf)
IFRS vs IAS
DIFFERENCES BETWEEN THE IFRS AND IAS



Related posts:<ol><li><a href='http://www.ifrslist.com/2008/12/15/fwd-message-from-the-moderator-news-about-iasifrs-from-eu-link-to-ifrs-file-in-pdf/' rel='bookmark' title='Permanent Link: News about IAS/IFRS from EU &#8211; Link to IFRS file (in pdf)'>News about IAS/IFRS from EU &#8211; Link to IFRS file (in pdf)</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-ifrs-vs-ias/' rel='bookmark' title='Permanent Link: IFRS vs IAS'>IFRS vs IAS</a></li>
<li><a href='http://www.ifrslist.com/2008/12/14/differences-between-the-ifrs-and-ias/' rel='bookmark' title='Permanent Link: DIFFERENCES BETWEEN THE IFRS AND IAS'>DIFFERENCES BETWEEN THE IFRS AND IAS</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-ifrs-and-ias/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Microsoft licence &#8230;.</title>
		<link>http://www.ifrslist.com/2008/12/15/microsoft-licence/</link>
		<comments>http://www.ifrslist.com/2008/12/15/microsoft-licence/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:18:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IAS 38]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[GAAP]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[PROJECT]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[SHARE]]></category>
		<category><![CDATA[TAX]]></category>
		<category><![CDATA[US GAAP]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-microsoft-licence/</guid>
		<description><![CDATA[Dear All ,
can anyone help me with an urgent answer on the below question :
- If we purchase software licences for office programs like (
Microsoft , power point etc ). and we renew the same every year
do we need to capitalize this cost or expense it ( Please note that
i&#8217;m not talking about operation or accounting software&#8217;s ) I&#8217;m talking
about licences like Microsoft ( office software&#8217;s).
regards
Tony


Hi Tony,
General software costs should be expensed as they do not meet IAS 38
recognition criteria.
regards,
Aida


The cost of software license is an expense recognized in the ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-software-capitalization/' rel='bookmark' title='Permanent Link: Software capitalization'>Software capitalization</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-ias-23-borrowing-costs-forex-diffrences/' rel='bookmark' title='Permanent Link: IAS 23 Borrowing costs &#8211; Forex diffrences'>IAS 23 Borrowing costs &#8211; Forex diffrences</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-cutt-off-period/' rel='bookmark' title='Permanent Link: Cutt off period'>Cutt off period</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/15/microsoft-licence/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>What is this ACCA?</title>
		<link>http://www.ifrslist.com/2008/12/15/what-is-this-acca/</link>
		<comments>http://www.ifrslist.com/2008/12/15/what-is-this-acca/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 22:16:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[TRAINING]]></category>
		<category><![CDATA[AICPA]]></category>
		<category><![CDATA[AUDIT]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[CPA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[GAAP]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[IFRS COURSES]]></category>
		<category><![CDATA[INTERNAL AUDIT]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[REPORT]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[SHARE]]></category>
		<category><![CDATA[STUDENT]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-what-is-this-acca/</guid>
		<description><![CDATA[I&#8217;m a CPA from the US. Is the ACCA something I should join? I&#8217;m a
member of the IMA and the AICPA in the US. Is ACCA some kind of
upstart or does anyone find it to add value to their careers and is it
recognized by global employers?
Thanks for the opinions, mostly just curious here.


Dear Justin,
ACCA is a British qualification mostly recognisted by European based
mutlinational corporations, British in particular. Please also consider
CIMA which is also Brtish qualification with more focus on management
accounting (controlling). With both qualifications you can take IFRS
path.
Please visit www.accaglobal.com ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-training-centre-for-ifrs-course-of-accai/' rel='bookmark' title='Permanent Link: Training centre for IFRS course of ACCAI?'>Training centre for IFRS course of ACCAI?</a></li>
<li><a href='http://www.ifrslist.com/2008/12/14/ifrs-lectures/' rel='bookmark' title='Permanent Link: IFRS lectures'>IFRS lectures</a></li>
<li><a href='http://www.ifrslist.com/2011/06/21/ifrs-implementation-cum-global-qualification-on-3rd-july-2011-in-new-delhi/' rel='bookmark' title='Permanent Link: IFRS Implementation-cum-Global Qualification on 3rd July 2011 in New Delhi'>IFRS Implementation-cum-Global Qualification on 3rd July 2011 in New Delhi</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/15/what-is-this-acca/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Date of comercial production</title>
		<link>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-date-of-comercial-production/</link>
		<comments>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-date-of-comercial-production/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 23:41:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IAS 16]]></category>
		<category><![CDATA[IAS 38]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[TAX]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DEPRECIATION]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 1]]></category>
		<category><![CDATA[INTANGIBLE ASSETS]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[PROJECT]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-date-of-comercial-production/</guid>
		<description><![CDATA[Dear all,
can anyone please guide me if there are any guidelines as to establish
date of commercial production in a manufacturing concern in IFRS.
thanks and regards
deepak


Hi Deepak,
I assume you are inferring to either intangible assets.
There is n...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-ias-1640-on-date-of-transition/' rel='bookmark' title='Permanent Link: IAS 16/40 on date of transition'>IAS 16/40 on date of transition</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/interest-capitalization/' rel='bookmark' title='Permanent Link: Interest Capitalization'>Interest Capitalization</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-software-capitalization/' rel='bookmark' title='Permanent Link: Software capitalization'>Software capitalization</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-date-of-comercial-production/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Loan Impairment</title>
		<link>http://www.ifrslist.com/2008/12/14/loan-impairment/</link>
		<comments>http://www.ifrslist.com/2008/12/14/loan-impairment/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 18:45:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CASH]]></category>
		<category><![CDATA[CASH FLOW]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[EQUITY]]></category>
		<category><![CDATA[FAIR VALUE]]></category>
		<category><![CDATA[GAAP]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 39]]></category>
		<category><![CDATA[IASB]]></category>
		<category><![CDATA[IFRIC]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[INVESTMENTS]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[LOAN]]></category>
		<category><![CDATA[PPE]]></category>
		<category><![CDATA[PROJECT]]></category>
		<category><![CDATA[REPORT]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[TAX]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-loan-impairment/</guid>
		<description><![CDATA[Is there any guideline for measurement of loan impairment and recognition of interest income by using effective rate method


Asim



well Esther the UK leads the path i.e. the UK tax authorities are the only ones in Europe which accept IFRS reporting to the extent that its website http://www.hmrc.gov.uk/ does have a section allocated to differences between IFRS and UK GAAP
I wish in Germany they had the same thing!!!!!







 

Asim
 
Below is the list of applicable paragraphs from IAS 39 for measurement of loan impairment:
 




                 Financial assets carried at amortized cost







63
If there is objective evidence ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/08/27/asset-held-for-resale/' rel='bookmark' title='Permanent Link: Asset held for resale'>Asset held for resale</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-impairment-goodwill/' rel='bookmark' title='Permanent Link: Impairment Goodwill'>Impairment Goodwill</a></li>
<li><a href='http://www.ifrslist.com/2008/12/14/equity-investments-afs-is-a-non-monetary-items/' rel='bookmark' title='Permanent Link: Equity investments AFS is a non-monetary items?'>Equity investments AFS is a non-monetary items?</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/14/loan-impairment/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Capitalization of WIP</title>
		<link>http://www.ifrslist.com/2008/12/14/capitalization-of-wip/</link>
		<comments>http://www.ifrslist.com/2008/12/14/capitalization-of-wip/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 18:44:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IAS 2]]></category>
		<category><![CDATA[ACCRUAL]]></category>
		<category><![CDATA[AUDIT]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[DOWNLOAD]]></category>
		<category><![CDATA[FIXED ASSET]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 1]]></category>
		<category><![CDATA[IAS 16]]></category>
		<category><![CDATA[IAS 37]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[INTERNAL AUDIT]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[INVENTORY]]></category>
		<category><![CDATA[IRR]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[PPE]]></category>
		<category><![CDATA[PROJECT]]></category>
		<category><![CDATA[REPORT]]></category>
		<category><![CDATA[SHARE]]></category>
		<category><![CDATA[STUDENT]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-capitalization-of-wip/</guid>
		<description><![CDATA[Hello,
 



If a company asks a third party to construct a fixed asset and at the end of the year, the fixed asset is not complete, but you have a statement of the costs incurred, would you capitalize the costs incurred under Construction in Progress with counterpart in accruals. Or would you record an entry only when it has been delivered to the company?
 
What IFRS would be applicable?
 
Thanks,
Isabelle



 


IFRS 16 would be applicable &#8220;Plant , Property and Equipemnt&#8221;
 
Recognisation -
Items of property, plant, and equipment should be recognised as assets when it is probable ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/08/28/re-re-ifrs-list-treatment-for-revaluation-of-land/' rel='bookmark' title='Permanent Link: Treatment for revaluation of land'>Treatment for revaluation of land</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/calculation-of-deferred-tax/' rel='bookmark' title='Permanent Link: Calculation of deferred tax'>Calculation of deferred tax</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/exceptional-items-vs-extraordinary-items/' rel='bookmark' title='Permanent Link: Exceptional Items vs. Extraordinary Items'>Exceptional Items vs. Extraordinary Items</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/14/capitalization-of-wip/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>DIFFERENCES BETWEEN THE IFRS AND IAS</title>
		<link>http://www.ifrslist.com/2008/12/14/differences-between-the-ifrs-and-ias/</link>
		<comments>http://www.ifrslist.com/2008/12/14/differences-between-the-ifrs-and-ias/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 18:44:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[DOWNLOAD]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IASB]]></category>
		<category><![CDATA[IASC]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[International Accounting]]></category>
		<category><![CDATA[INTERNATIONAL ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[SEC]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-redifferences-between-the-ifrs-and-ias/</guid>
		<description><![CDATA[What are the diferences between the two accounting policies?






IAS was in use before the introduction of IFRS. With effect from the introduction of IFRS, only IAS before the introduction of IFRS is stil in use. Any other international standard that will be issued will now be IFRS but not IAS.
 
Femi



In my view except the change in nomenaclature there is no much difference in the basic strategy of the standardization process. Ofcourse prior to 2001 (1973-2001) IAS International Accounting Standards were used to be issued by the IASC (International Accounting Standards Committee) and ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-ifrs-vs-ias/' rel='bookmark' title='Permanent Link: IFRS vs IAS'>IFRS vs IAS</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/fwd-message-from-the-moderator-news-about-iasifrs-from-eu-link-to-ifrs-file-in-pdf/' rel='bookmark' title='Permanent Link: News about IAS/IFRS from EU &#8211; Link to IFRS file (in pdf)'>News about IAS/IFRS from EU &#8211; Link to IFRS file (in pdf)</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-ifrs-and-ias/' rel='bookmark' title='Permanent Link: IFRS AND IAS'>IFRS AND IAS</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/14/differences-between-the-ifrs-and-ias/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>UK&#8217;s ASB AND GAAP</title>
		<link>http://www.ifrslist.com/2008/12/14/uks-asb-and-gaap/</link>
		<comments>http://www.ifrslist.com/2008/12/14/uks-asb-and-gaap/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 18:44:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[OTHER GAAP]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[GAAP]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[REPORT]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[TAX]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-reuks-asb-and-gaap/</guid>
		<description><![CDATA[
What measures are being taken by UK&#8217;s ASB to bring UK GAAP into line with international standards?
What are the advantages of a closer international harmonization of accounting olicies for multi national companies and investors?





well Esther the UK leads the path i.e. the UK tax authorities are the only ones in Europe which accept IFRS reporting to the extent that its website http://www.hmrc.gov.uk/ does have a section allocated to differences between IFRS and UK GAAP
I wish in Germany they had the same thing!!!!!
 


suggested answer
investors increasingly make investment decisions on a worldwide ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-difference-between-uk-gaap-and-ifrs/' rel='bookmark' title='Permanent Link: Difference between UK GAAP and IFRS'>Difference between UK GAAP and IFRS</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/where-can-i-find-pdf-copy-of-us-gaap-and-us-gaap-apb/' rel='bookmark' title='Permanent Link: Where can I find pdf copy of US GAAP and US GAAP APB?'>Where can I find pdf copy of US GAAP and US GAAP APB?</a></li>
<li><a href='http://www.ifrslist.com/2008/08/27/ifrs-and-debt-covenants/' rel='bookmark' title='Permanent Link: IFRS and Debt Covenants'>IFRS and Debt Covenants</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/14/uks-asb-and-gaap/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>IFRS lectures</title>
		<link>http://www.ifrslist.com/2008/12/14/ifrs-lectures/</link>
		<comments>http://www.ifrslist.com/2008/12/14/ifrs-lectures/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 18:43:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[TRAINING]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[CPA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[PROJECT]]></category>
		<category><![CDATA[REPORT]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-ifrs-list-ifrs-lectures/</guid>
		<description><![CDATA[Dear All ,
I need to attend IFRS classes , Do you know if there is any classes available in Dubai ( Not training sessions ) what i need is  any institute or University or anything else , have IFRS / IAS classes with certificate ( i repeat Not training conferences , by the way they are soooooo expensive i need something acceptable) not 4000 euro per day ( as they do in training programs )} 
Thanks for your help
regards

Tony


You can certification in IFRS through accaglobal.com



You can also look at the ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/12/15/what-is-this-acca/' rel='bookmark' title='Permanent Link: What is this ACCA?'>What is this ACCA?</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-training-centre-for-ifrs-course-of-accai/' rel='bookmark' title='Permanent Link: Training centre for IFRS course of ACCAI?'>Training centre for IFRS course of ACCAI?</a></li>
<li><a href='http://www.ifrslist.com/2011/06/21/ifrs-implementation-cum-global-qualification-on-3rd-july-2011-in-new-delhi/' rel='bookmark' title='Permanent Link: IFRS Implementation-cum-Global Qualification on 3rd July 2011 in New Delhi'>IFRS Implementation-cum-Global Qualification on 3rd July 2011 in New Delhi</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/14/ifrs-lectures/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Just one question</title>
		<link>http://www.ifrslist.com/2008/12/14/just-one-qustion/</link>
		<comments>http://www.ifrslist.com/2008/12/14/just-one-qustion/#comments</comments>
		<pubDate>Sun, 14 Dec 2008 18:42:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[IAS 38]]></category>
		<category><![CDATA[AUDIT]]></category>
		<category><![CDATA[CASH]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IFRS]]></category>
		<category><![CDATA[INTANGIBLE ASSETS]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[International Accounting]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://www.ifrsforsme.com/share/2008/12/fwd-re-ifrs-list-just-one-qustion/</guid>
		<description><![CDATA[Please let me know about cost of create new web sit
will it be general expenses or intangible assets 
So, which treatment prefered to be confirmed to international accounting standard
 
thank you
 
Mahmoud Gbr
Auditor




General expense: if there is no link to future cash inflow through this 
 
Intangible asset: if satisfy the conditions of IAS 38 ..cash inflow, technical feasibility, intention, available market etc.
 
Thank you,
Regards,
Debdulal



Do you expect with relative certainty that the development of the new web will bring new cashflows to the company?



 
If yes-then it should be recognised as an asset
If not-it is an expense and should be ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-software-capitalization/' rel='bookmark' title='Permanent Link: Software capitalization'>Software capitalization</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/interest-capitalization/' rel='bookmark' title='Permanent Link: Interest Capitalization'>Interest Capitalization</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/microsoft-licence/' rel='bookmark' title='Permanent Link: Microsoft licence &#8230;.'>Microsoft licence &#8230;.</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/12/14/just-one-qustion/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Suggestions required . . . .</title>
		<link>http://www.ifrslist.com/2008/08/28/re-ifrs-list-suggestions-required/</link>
		<comments>http://www.ifrslist.com/2008/08/28/re-ifrs-list-suggestions-required/#comments</comments>
		<pubDate>Thu, 28 Aug 2008 15:08:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 1]]></category>
		<category><![CDATA[IAS 17]]></category>
		<category><![CDATA[IAS 37]]></category>
		<category><![CDATA[IAS 40]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://ifrslist.wordpress.com/2008/08/28/re-ifrs-list-suggestions-required/</guid>
		<description><![CDATA[







Dear Fellow  Members
I need your suggestions &#38;  explanations on below stated matter. If possible, please suggest with references  of IAS.
An office is located in a  bungalow, which is acquired on rent; the rent is paid in advance for a period of  1 year &#38; the agreement is revised at the end of the term. It is mutually  agreed that the bungalow will remain in the company&#8217;s possession for 5 – 8 years  at least. We had to build rooms on the roof top, my ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/08/28/re-re-ifrs-list-opinion-required-revenue-recognisation/' rel='bookmark' title='Permanent Link: Opinion Required-Revenue Recognisation'>Opinion Required-Revenue Recognisation</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/discount-concession-amortization/' rel='bookmark' title='Permanent Link: Discount/ Concession amortization'>Discount/ Concession amortization</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/operating-lease-lessees-books/' rel='bookmark' title='Permanent Link: Operating lease &#8211; Lessee&#8217;s books'>Operating lease &#8211; Lessee&#8217;s books</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/08/28/re-ifrs-list-suggestions-required/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Opinion Required-Revenue Recognisation</title>
		<link>http://www.ifrslist.com/2008/08/28/re-re-ifrs-list-opinion-required-revenue-recognisation/</link>
		<comments>http://www.ifrslist.com/2008/08/28/re-re-ifrs-list-opinion-required-revenue-recognisation/#comments</comments>
		<pubDate>Thu, 28 Aug 2008 15:08:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 1]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[PROJECT]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://ifrslist.wordpress.com/2008/08/28/re-re-ifrs-list-opinion-required-revenue-recognisation/</guid>
		<description><![CDATA[




Dear Collegue,
How do we recognise the revenue in Building Construction company.
Illustrate with good/understandable example.
Can anybody focus on it ?
Thanks in advance




Hi 

Revenue to be recognized on the basis of percentage of completion POC  basis. If you got contract to built builiding for a some one than POC method may  suits you.

Actual  cost divided by Estimated cost and then multiply by estimated revenue to  recognized the portion of revenue recognised or if engineer can identify the  percentage of construction completed you can use than percentage to ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-suggestions-required/' rel='bookmark' title='Permanent Link: Suggestions required . . . .'>Suggestions required . . . .</a></li>
<li><a href='http://www.ifrslist.com/2011/04/13/revenue-recognistion-for-constructionproject-based/' rel='bookmark' title='Permanent Link: Revenue recognistion for construction/project based'>Revenue recognistion for construction/project based</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/termination-provisions/' rel='bookmark' title='Permanent Link: Termination provisions'>Termination provisions</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/08/28/re-re-ifrs-list-opinion-required-revenue-recognisation/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Cutt off period</title>
		<link>http://www.ifrslist.com/2008/08/28/re-ifrs-list-cutt-off-period/</link>
		<comments>http://www.ifrslist.com/2008/08/28/re-ifrs-list-cutt-off-period/#comments</comments>
		<pubDate>Thu, 28 Aug 2008 15:08:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[EXPENSES]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 1]]></category>
		<category><![CDATA[IASB]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[PPE]]></category>
		<category><![CDATA[REPORT]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://ifrslist.wordpress.com/2008/08/28/re-ifrs-list-cutt-off-period/</guid>
		<description><![CDATA[





Hi , 

 If provision for Bonus was taken in 2007 for X amount and financial statements for 2007 closed and reported , and in 2008 the payout of Bonuses was more than the provisions amount. As per IFRS , what is acceptable?? 
1- should we classify the over expensed amount as Prior year expenses ( is this accp as per IFRS )
2- should i expense this amount in 2008 ?
I used to do this as prior year expenses , but i heard that as per IFRS now we should ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/12/15/fwd-ifrs-list-prior-year-adjustment/' rel='bookmark' title='Permanent Link: Prior year adjustment'>Prior year adjustment</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/preliminery-expenses/' rel='bookmark' title='Permanent Link: Preliminery expenses'>Preliminery expenses</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/ifrs-1/' rel='bookmark' title='Permanent Link: IFRS-1'>IFRS-1</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/08/28/re-ifrs-list-cutt-off-period/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>IAS 23 Borrowing costs &#8211; Forex diffrences</title>
		<link>http://www.ifrslist.com/2008/08/28/re-ifrs-list-ias-23-borrowing-costs-forex-diffrences/</link>
		<comments>http://www.ifrslist.com/2008/08/28/re-ifrs-list-ias-23-borrowing-costs-forex-diffrences/#comments</comments>
		<pubDate>Thu, 28 Aug 2008 15:08:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[BORROWING COSTS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[FOREIGN CURRENCY]]></category>
		<category><![CDATA[FOREX]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 2]]></category>
		<category><![CDATA[IAS 23]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[LOAN]]></category>
		<category><![CDATA[PROJECT]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[SHARE]]></category>

		<guid isPermaLink="false">http://ifrslist.wordpress.com/2008/08/28/re-ifrs-list-ias-23-borrowing-costs-forex-diffrences/</guid>
		<description><![CDATA[







As per the amended IAS 23, all borrowing costs on qualifying assets should be capitalised (no option to expense).
Does exchange differences on foreign currency loans qualify as borrowing costs to be capitalised?
Best regards
Allan





Hi Allan

To  my understanding any positive/negative FX difference is expensed directly to the P&#38;L.

Regards,
Marc





The change to IAS23 will come into force on Jan 2009. So far that is only allowed alternative, the benchmark tre
atment is to expense.
The exchange differences on foreign currency should be included to assets under construction and therefore capitalised. After capitalisation of qualifying asset any exchange ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/08/28/ias-23-borrowing-costs-forex-differences/' rel='bookmark' title='Permanent Link: IAS 23 Borrowing costs &#8211; Forex differences'>IAS 23 Borrowing costs &#8211; Forex differences</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/ias-23-borrowing-costs-interest-free-loans-2/' rel='bookmark' title='Permanent Link: IAS 23 Borrowing costs &#8211; Interest-free loans'>IAS 23 Borrowing costs &#8211; Interest-free loans</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/ias-23-borrowing-costs-interest-free-loans/' rel='bookmark' title='Permanent Link: IAS 23 Borrowing costs &#8211; Interest-free loans'>IAS 23 Borrowing costs &#8211; Interest-free loans</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/08/28/re-ifrs-list-ias-23-borrowing-costs-forex-diffrences/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>IFRS vs IAS</title>
		<link>http://www.ifrslist.com/2008/08/28/re-ifrs-list-ifrs-vs-ias/</link>
		<comments>http://www.ifrslist.com/2008/08/28/re-ifrs-list-ifrs-vs-ias/#comments</comments>
		<pubDate>Thu, 28 Aug 2008 14:40:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[FINANCIAL REPORTING STANDARDS]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[IAS 1]]></category>
		<category><![CDATA[IASB]]></category>
		<category><![CDATA[IASC]]></category>
		<category><![CDATA[IFRIC]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[International Accounting]]></category>
		<category><![CDATA[INTERNATIONAL ACCOUNTING STANDARDS]]></category>
		<category><![CDATA[LINK]]></category>
		<category><![CDATA[REPORT]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[WIKIPEDIA]]></category>

		<guid isPermaLink="false">http://ifrslist.wordpress.com/2008/08/28/re-ifrs-list-ifrs-vs-ias/</guid>
		<description><![CDATA[Hi everyone
I want to know the difference between IFRS and IAS.  As, there are IAS 1 to 41 standards already existing then why IFRS 1 to 8 was developed.
Secondly, are these two standards working parallel to each other or IAS is abondoned and now IFRS is working?
If someone could please guide me.Well I am &#8220;sorry&#8221; to ask a basis question from honourable members.
Sincerely,

Salman



See this link for the first question,



 http://en.wikipedia.org/wiki/International_Financial_Reporting_Standards
 
The second Q: yes they are parallel, as long as an IAS is not replaced by an IFRS it remains valid. Companies ...


Related posts:<ol><li><a href='http://www.ifrslist.com/2008/12/14/differences-between-the-ifrs-and-ias/' rel='bookmark' title='Permanent Link: DIFFERENCES BETWEEN THE IFRS AND IAS'>DIFFERENCES BETWEEN THE IFRS AND IAS</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/fwd-message-from-the-moderator-news-about-iasifrs-from-eu-link-to-ifrs-file-in-pdf/' rel='bookmark' title='Permanent Link: News about IAS/IFRS from EU &#8211; Link to IFRS file (in pdf)'>News about IAS/IFRS from EU &#8211; Link to IFRS file (in pdf)</a></li>
<li><a href='http://www.ifrslist.com/2008/08/27/standards-for-smesnot-for-profit-organizations/' rel='bookmark' title='Permanent Link: Standards for sme&#8217;s:not for profit organizations'>Standards for sme&#8217;s:not for profit organizations</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/08/28/re-ifrs-list-ifrs-vs-ias/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Internal Auditing</title>
		<link>http://www.ifrslist.com/2008/08/28/re-ifrs-list-internal-auditing/</link>
		<comments>http://www.ifrslist.com/2008/08/28/re-ifrs-list-internal-auditing/#comments</comments>
		<pubDate>Thu, 28 Aug 2008 14:37:00 +0000</pubDate>
		<dc:creator>ifrslist</dc:creator>
				<category><![CDATA[IFRS]]></category>
		<category><![CDATA[AUDIT]]></category>
		<category><![CDATA[CIA]]></category>
		<category><![CDATA[DISCLOSURE]]></category>
		<category><![CDATA[DOWNLOAD]]></category>
		<category><![CDATA[IAS]]></category>
		<category><![CDATA[INTERNAL AUDIT]]></category>
		<category><![CDATA[International]]></category>
		<category><![CDATA[SEC]]></category>

		<guid isPermaLink="false">http://ifrslist.wordpress.com/2008/08/28/re-ifrs-list-internal-auditing/</guid>
		<description><![CDATA[Dear all,
Could someone help me with guidelines on
setting up an internal audit department which
none existed before.
 
Or refer me to the necessary IAS
Many Thanks
 
 





Kindly visit www.theiia.org
You could download the IIA standards/frameworks and other materials/guidance 
or professional help you will need.



 
 
Dear James,




I would be difficult to send an procedural guidelines on setting up internal audit departement as we need to look at various areas of operation. Every company has and works under different dynamics.
 
Daya


iam an internal ausditoe having 25 years of internasl auditing exposure




 


Related posts:Internal controls
Assistance for Auditing
Internal audit procedures



Related posts:<ol><li><a href='http://www.ifrslist.com/2008/08/27/fwd-ifrs-list-internal-controls/' rel='bookmark' title='Permanent Link: Internal controls'>Internal controls</a></li>
<li><a href='http://www.ifrslist.com/2008/08/28/re-ifrs-list-assistance-for-auditing/' rel='bookmark' title='Permanent Link: Assistance for Auditing'>Assistance for Auditing</a></li>
<li><a href='http://www.ifrslist.com/2008/12/15/internal-audit-procedures/' rel='bookmark' title='Permanent Link: Internal audit procedures'>Internal audit procedures</a></li>
</ol>]]></description>
		<wfw:commentRss>http://www.ifrslist.com/2008/08/28/re-ifrs-list-internal-auditing/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
	</channel>
</rss>

