News
(Jordan) Issues the Arabic Translated Version of the International Financial Reporting Standards 2014
02-Dec-2014
The International Arab Society of Certified
Accountants (Jordan) issued the latest Arabic translated version of the
International Financial Reporting Standards.
The only
official
printed edition of the consolidated text of the IASB's authoritative
pronouncements as issued at 1 January 2014.
What’s New?
This
version contains the latest changes since the 2013 edition of the Bound Volume
of International Financial Reporting Standards (the ‘Red Book’)
The
following are the main changes made since 1 January 2013:
·
Amendments
to the following Standards: IFRS 7, IFRS 9, IAS 19, IAS 36 and IAS 39;
·
Two sets
of Annual Improvements;
·
One new
Interpretation—IFRIC 21 “Levies”; and
·
IFRS
Foundation Constitution and Due Process Handbook.
·
It also
contains the Annual Improvements to IFRSs 2011–2013 Cycle
which were issued in December 2013.
Following are the four amendments related to the four Standards.
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IFRS 1 First-time Adoption
of International Financial Reporting Standards
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Meaning of ‘effective IFRSs’.
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IFRS 3 Business
Combinations
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Scope exceptions for joint ventures.
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IFRS 13 Fair Value
Measurement
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Scope of paragraph 52 (portfolio exception).
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IAS 40 Investment Property
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Clarifying the interrelationship between IFRS 3 and IAS 40 when
classifying property as investment property or owner-occupied property.
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· Amendments
to the following were also issued:
- - Recoverable Amount Disclosures for Non-Financial Assets
(Amendments to IAS 36) issued in May 2013.
- Novation of Derivatives and Continuation of Hedge Accounting
(Amendments to IAS 39) issued in June 2013.
- - Defined Benefit Plans: Employee Contributions
(Amendments to IAS 19) issued in November 2013
This book is available to purchase as a printed copy or as a PDF
from the official website of the IFRS Foundation.