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IFRS factsheets

Accessible and practical assistance on international financial reporting issues, written by experts in the field.

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Introducing IFRS 9 Financial Instruments

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This factsheet highlights the key differences between IFRS 9 Financial Instruments and its predecessor, IAS 39 Financial Instruments: Recognition and Measurement. Its focus is on how these changes will affect non-financial sector entities. Date published 15 February 2016. Last updated 31 May 2017.

Introducing IFRS 16 Leases

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The IASB issued IFRS 16 Leases in January 2016. The standard sets out principles for the recognition, measurement, presentation and disclosure of leases. This factsheet provides an overview of IFRS 16 and answers some frequently asked questions about this new standard. Published 12 July 2016. Updated 31 May 2017.

2017 IFRS Accounts

This factsheet highlights new and modified requirements for preparers of IFRS accounts. The factsheet deals primarily with new requirements with mandatory application for annual periods beginning on or after 1 January 2017. Published May 2017.

IFRS transition

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This factsheet is designed to help those adopting, or considering adopting, International Financial Reporting Standards (IFRSs) for the first time. It considers the implications of moving to IFRSs and provides practical tips on how to manage the process. Date published: 16 May 2012 (last updated 31 January 2017).

IFRS for SMEs: The Basics

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This factsheet introduces the key accounting provisions of the IFRS for SMEs and considers which entities are eligible to use the standard. Date published: 1 April 2010. Last updated 08 February 2017.

Interests in other entities

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This factsheet guides you through some common questions on the 'package of five' standards on group accounting issues published by the IASB, namely IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements, IFRS 12 Disclosure of Interests in Other Entities and revisions to IAS 27 Separate Financial Statements and IAS 28 Investments in Associates and Joint Ventures. Date published: 7 February 2012 (last updated 30 January 2017).

2016 IFRS Accounts

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This factsheet highlights new and modified requirements for preparers of IFRS accounts. The factsheet deals primarily with new requirements with mandatory application for annual periods beginning on or after 1 January 2016. Date published 11 August 2016 (last updated 30 January 2017).

Revenue from contracts with customers

In May 2014, the IASB issued IFRS 15 Revenue from Contracts with Customers, a standard that sets out the principles for when revenue should be recognised and how it should be measured, together with related disclosures. This factsheet answers some key frequently asked questions about this new standard. Date published: 4 July 2014 (last updated November 2016).

2015 IFRS Accounts

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This factsheet highlights new and modified requirements for preparers of IFRS accounts in 2015. The factsheet deals primarily with new requirements with mandatory application for preparers with periods beginning or ending in 2015. Date published: 27 May 2015 (last updated 30 January 2017).

2014 IFRS Accounts

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This factsheet highlights new and modified requirements for preparers of IFRS accounts in 2014. The factsheet deals primarily with new requirements with mandatory application for preparers with periods beginning or ending in 2014. Date published: 2 May 2014 (last updated April 2016).

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