2012-01-10 Closing the GAAP: New IFRS Pronouncements (includes developments to December 31, 2011)

This newsletter presents a summary of new IFRS pronouncements relevant to financial statements prepared in accordance with IFRS (includes developments to December 31, 2011).

The attached memorandum summarizes IFRS pronouncements that must be applied, if applicable, for the first time by a calendar year-end entity that is preparing financial statements in accordance with IFRS. This newsletter sets out new requirements by the calendar year in which they are first effective.

The listing includes the following pronouncements:

  • International Financial Reporting Standards ("IFRS")
  • International Financial Reporting Interpretations Committee ("IFRIC") Interpretations

The International Accounting Standards Board ("IASB") has a number of projects in progress. Information on these projects is available on the IASB website.

Information on IFRIC projects is available here.

While we have attempted to make this newsletter as complete as possible, it may not include all changes or modifications to existing authoritative literature that may affect a particular enterprise.