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Financial Reporting

International Financial Reporting Standards (IFRSs) are accounting standards and interpretations published by the International Accounting Standards Board (IASB). IFRSs have been adopted by many jurisdictions worldwide. Access all the latest information and practical resources on IFRSs.

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Need to know

Coronavirus and financial reporting Guidance for preparers of financial statements on the coronavirus outbreak, including advice on disclosure of risks and treatment of events after the reporting period.
How to distinguish adjusting from non-adjusting events after the reporting period under IAS 10
  • Helpsheets and support
  • May 2022
This guide outlines factors to consider when determining whether post balance sheet events are adjusting or non-adjusting in the accounts.
Coronavirus: The financial reporting implications under IFRS
  • Helpsheets and support
  • May 2020
A short guide on the impact for entities with 2019 and early 2020 year-ends preparing accounts in accordance with IFRS or the IFRS for SMEs.
Bitesize Briefing: COVID-19 and post balance sheet events
  • Webinar
  • Apr 2020
Aimed at both UK GAAP and IFRS reporters, a short webcast on the factors to consider when determining whether COVID-19 is an adjusting or non-adjusting event.
Exclusive International technical updates The technical update includes regulatory news and publications from international standard setting bodies, such as the International Auditing and Assurance Standards Board, the International Ethics Standards Board for Accountants and the International Accounting Standards Board, and other international organisations.
IFRS 9 Financial Instruments
  • Article
  • Dec 2018
IFRS 9 sets out the requirements for recognising and measuring financial assets, financial liabilities, and some contracts to buy or sell non-financial items.
IFRS articles A selection of articles on IFRS, taken mainly from By All Accounts, the Financial Reporting Faculty's highly acclaimed bi-annual journal.
IFRS 15 Revenue from contracts with customers
  • Listing
  • Dec 2018
IFRS 15 provides a single, principles-based five-step model that should be applied to determine how and when to recognise revenue from contracts with customers.

IFRS Accounting Standards

IFRS accounting standards
  • Hub page
  • May 2011
International Financial Reporting Standards (IFRSs) and IFRICs are accounting standards and interpretations published by the International Accounting Standards Board (IASB).
IFRS for SMEs
  • Listing
  • Jul 2018
The International Financial Reporting Standard for Small and Medium-sized Entities
Exclusive Effective dates for IFRS
  • Listing
  • Mar 2011
Mandatory dates identify which new IFRSs, IFRICs and amendments come into force for different time periods, linked to the ICAEW Financial Reporting Faculty’s standards tracker.
IFRS adoption around the world
  • Listing
  • Jul 2016
Find out which countries require or permit companies to apply IFRS and which standards have been endorsed by the EU.
IFRS model accounts and disclosure checklists
  • Listing
  • Jun 2016
A list of regularly updated free sources for IFRS model accounts and disclosure checklists.
IFRS reporting: lessons learned Lessons learned from the EU's experience of using IFRS to provide insights and recommendations for jurisdictions considering using or extending the application of IFRS.

Factsheets

Exclusive 2022 IFRS Accounts Factsheet
  • Helpsheets and support
  • Aug 2022
  • PDF (365kb)
This factsheet highlights new and modified requirements and includes practical tips on the implications of the changes.
Exclusive IFRS 17 Insurance Contracts - Updated
  • Helpsheets and support
  • Aug 2022
  • PDF (354kb)
This updated factsheet provides guidance for non-insurers assessing whether or to what extent they will be affected by the IFRS 17.
Exclusive IFRS 9 Financial Instruments - hedge accounting - Updated
  • Helpsheets and support
  • May 2022
  • PDF (402kb)
This updated factsheet outlines the hedge accounting requirements of IFRS 9 Financial Instruments, comparing them with those of IAS 39. It also contains practical tips to help with implementation.
Exclusive IFRS 9 Financial Instruments – overview - Updated
  • Helpsheets and support
  • May 2022
  • PDF (403kb)
This updated factsheet outlines the key requirements of IFRS 9 Financial Instruments, including classification and measurement, and impairment of financial assets. It’s focus is on the non-financial sector.
Exclusive 2021 IFRS Accounts
  • Helpsheets and support
  • Aug 2021
  • PDF (395kb)
This factsheet highlights new and modified requirements for preparers of IFRS accounts for accounting periods beginning on or after 1 January 2021, as well as the implications of COVID-19, Brexit and climate change.
Exclusive IFRS 16 Leases - Updated
  • Helpsheets and support
  • Jul 2016
  • PDF (449kb)
This factsheet provides an overview of IFRS 16 together with practical tips and examples. It has been updated for recent amendments.
Exclusive 2020 IFRS Accounts - Updated
  • Helpsheets and support
  • Aug 2021
  • PDF (414kb)
This factsheet highlights new and modified requirements for preparers of IFRS accounts. The factsheet deals primarily with new IFRS requirements with mandatory application for annual periods beginning on or after 1 January 2020.
Exclusive 2019 IFRS Accounts
  • Helpsheets and support
  • Jun 2019
  • PDF (453kb)
This factsheet provides an overview of new and modified requirements for preparers of IFRS accounts beginning during calendar year 2019 and practical tips on how to implement the changes. Updated October 2020.

IFRS events and webinar recordings

Contract modifications under IFRS
  • Webinar
  • Dec 2020
Join this webinar to find out more about how to account for the most common types of contract modifications under IFRS.
Exclusive IFRS 17 Insurance Contracts for non-insurers
  • Webinar
  • Nov 2020
Entities, despite not being insurers, may have contracts that fall in scope of IFRS 17 Insurance Contracts. Find out more with this webinar.
Exclusive IFRS 16 Leases - implementation and recent developments
  • Webinar
  • Sep 2020
Discover the IFRS 16 implementation lessons learned and hear about the COVID-19-related rent concessions amendment.
Exclusive 2020 IFRS update
  • Webinar
  • Jun 2020
Covering recent IFRS implementation experience, a summary of changes applicable in 2020 and developments on the horizon.
Bitesize Briefing: COVID-19 and post balance sheet events
  • Webinar
  • Apr 2020
Aimed at both UK GAAP and IFRS reporters, a short webcast on the factors to consider when determining whether COVID-19 is an adjusting or non-adjusting event.

Improving corporate reporting

Information for Better Markets Find out about the ICAEW Financial Reporting Faculty’s thought leadership programme, ‘Information for Better Markets’, and access the latest reports and webcasts.
Growth, development and accounting
  • Thought leadership report
  • Dec 2017
  • PDF (286kb)
This report explores the role of accounting in promoting economic growth. It considers how this role has evolved and what lessons there are for the future.

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