12 December 2013
The International Accounting Standards Board (IASB) today issued Annual Improvements to IFRSs 2010–2012 Cycle and Annual Improvements to IFRSs 2011–2013 Cycle.
The IASB uses the Annual Improvements process to make necessary, but non-urgent, amendments to IFRSs that will not be included as part of any other project. By presenting the amendments in the form of a single document rather than as a series of piecemeal changes, the IASB aims to ease the burden of change for all concerned.
Annual Improvements to IFRSs 2010–2012 Cycle is a collection of amendments to IFRSs in response to eight issues addressed during the 2010–2012 cycle for annual improvements to IFRSs. These amendments result from proposals that were contained in the Exposure Draft Annual Improvements to IFRSs 2010–2012 Cycle, published in May 2012.
Annual Improvements to IFRSs 2011–2013 Cycle is a collection of amendments to IFRSs in response to four issues addressed during the 2011–2013 cycle. These amendments result from proposals that were contained in the Exposure Draft Annual Improvements to IFRSs 2011–2013 Cycle, published in November 2012.
The effective date of each amendment is included in the IFRSs affected.
Read more about the criteria used to determine whether a topic should be added to the Annual Improvements project.
Annual Improvements to IFRSs 2011–2013 Cycle and Annual Improvements to IFRSs 2010–2012 Cycle are available for eIFRS subscribers from today, please click here. Those wishing to subscribe to eIFRS should visit the Web Shop.
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Press enquiries:
Chris Welsh, Communications Manager, IFRS Foundation
Telephone: +44 (0)20
7246 6495
Email: cwelsh@ifrs.org
Final Amendments: Annual Improvements to IFRSs 2010–2012 Cycle
| Standard | Subject of amendment |
| IFRS 2 Share-based Payment | Definition of vesting condition |
| IFRS 3 Business Combinations | Accounting for contingent consideration in a business combination |
| IFRS 8 Operating Segments | Aggregation of operating segments |
| Reconciliation of the total of the reportable segments´ assets to the entity´s assets | |
| IFRS 13 Fair Value Measurement | Short-term receivables and payables |
| IAS 16 Property, Plant and Equipment | Revaluation method—proportionate restatement of accumulated depreciation |
| IAS 24 Related Party Disclosures | Key management personnel |
| IAS 38 Intangible Assets | Revaluation method—proportionate restatement of accumulated amortisation |
Final Amendments: Annual Improvements to IFRSs 2011–2013 Cycle
| Standard | Subject of amendment |
| IFRS 1 First-time Adoption of International Financial Reporting Standards | Meaning of ‘effective IFRSs´ |
| IFRS 3 Business Combinations | Scope exceptions for joint ventures |
| IFRS 13 Fair Value Measurement | Scope of paragraph 52 (portfolio exception) |
IAS 40 Investment Property |
Clarifying the interrelationship between IFRS 3 and IAS 40 when classifying property as investment property or owner-occupied property |