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List of International Financial Reporting Standards

This is a list of the International Financial Reporting Standards (IFRSs) and official interpretations, as set out by the IFRS Foundation. It includes accounting standards either developed or adopted by the International Accounting Standards Board (IASB), the standard-setting body of the IFRS Foundation.

The IFRS include

  • The Conceptual Framework for Financial Reporting；
  • The International Accounting Standards (IAS) and the International Financial Reporting Standards (IFRS) —developed by the International Accounting Standards Committee (IASC) and adopted by the International Accounting Standards Board (IASB);
  • The Interpretations —developed by the International Financial Reporting Interpretations Committee (IFRIC) and the Standing Interpretations Committee (SIC)；
  • The IFRS Practice Statements.

The list contains all standards, interpretations and practice statements regardless whether they have been suspended.

List of the International Accounting Standards (IAS) and the International Financial Reporting Standards (IFRS)

List of the Interpretations (IFRIC and SIC)

The following table lists the interpretations developed by the International Financial Reporting Interpretations Committee (IFRIC) and the former Standing Interpretations Committee (SIC). These interpretations provide authoritative guidance on the application of IFRS and IAS standards where the standards themselves do not provide sufficient detail.

Interpretation Logic

The relationship between core standards and interpretations can be expressed as:

Total Reporting Requirement = Σ (Standard Requirements) + Σ (Related Interpretations)

Modern Developments: Agenda Decisions

Since the issuance of IFRIC 23, the IFRS Interpretations Committee has primarily addressed application questions through Agenda Decisions. While these do not result in a new numbered IFRIC interpretation, they often include explanatory material that is considered essential for consistent application of IFRS.

Total Authoritative Guidance = Σ (IFRS/IAS Standards) + Σ (IFRIC/SIC Interpretations) + Σ (Explanatory Agenda Decisions)

List of the Practice Statements

IFRS Practice Statements provide non-mandatory guidance on topics related to financial reporting. They are designed to assist entities in applying IFRS principles to complex areas of judgment.

Purpose and Logic

Practice Statements help bridge the gap between technical accounting and the narrative part of financial reports.

Complete Financial Report = Σ (Financial Statements) + Σ (Management Commentary & Disclosures)

  • Practice Statement 1 (Management Commentary): Provides a framework for the narrative report that accompanies the financial statements, explaining the entity's strategy and resources.
  • Practice Statement 2 (Materiality): Helps entities decide whether information is "material". Information is material if omitting or misstating it could influence the decisions of users.

Future Developments

The IASB is currently working on a major project to replace the 2010 Management Commentary Practice Statement to better reflect environmental, social, and governance (ESG) reporting needs.

References

References

External links