Book Publish Date
07-Apr-2025
important amendments in the IFRS 2023, through the following table:
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Supplier Finance Arrangements
Amendments to IAS 7 and IFRS 7
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May 2023
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1 January 2024
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IAS 7, IFRS 7
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International Tax Reform—Pillar Two Model Rules
Amendments to IAS 12
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May 2023
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1 January 2023
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IAS 12
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Lack of
Exchangeability
Amendments to IAS 21
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August 2023
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1 January 2025
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IAS 21, IFRS 1
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Amendments to Accounting Standards
Supplier Finance Arrangements
Supplier Finance Arrangements amends IAS 7 Statement of Cash Flows to require an entity to provide additional disclosures about its supplier finance arrangements. The amendments also add supplier finance arrangements as an example within the liquidity risk disclosure requirements of IFRS 7 Financial Instruments: Disclosures.
International Tax Reform—Pillar Two Model Rules
International Tax Reform—Pillar Two Model Rules amends IAS 12 Income Taxes. The amendments introduce a temporary exception to the requirements to recognise and disclose information about deferred tax assets and liabilities related to Pillar Two income taxes. The amendments also introduce targeted disclosure requirements for affected entities.
Lack of Exchangeablity
Lack of Exchangeablity amends IAS 21 The Effects of Changes in Foreign Exchange Rates to require an entity to apply a consistent approach to assessing whether a currency is exchangeable into another currency and, when it is not, to determining the exchange rate to use and the disclosures to provide.