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:
The International Accounting Standards Board ("IASB") has a number of projects in progress. Information on these projects is available on the IASB website at: http://www.ifrs.org/Current-Projects/IASB-Projects/Pages/IASB-Work-Plan.aspx.
Information on IFRIC projects is available at: http://www.ifrs.org/Current-Projects/IFRIC-Projects/Pages/Current-Projects.aspx.
This ACS newsletter supersedes the information in previous Newsletter 2013-067 and will be updated quarterly. Developments since the issue of the previous newsletters, if any, are highlighted in yellow.
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.