Identifying a performance obligation
IFRSAccurate and consistent revenue recognition is a cornerstone of sound financial reporting for all businesses, ensuring comparability across industries and markets.
IFRS 9 ‘Financial Instruments’ is now complete
Following several years of development, the IASB has finished its project to replace IAS 39 ‘Financial Instruments: Recognition and Measurement’ by publishing IFRS 9 ‘Financial Instruments (2014)’.
This special edition of IFRS News takes you through the requirements of the new Standard. It covers all of the individual chapters that make up the Standard but focuses in particular on the chapters added in July 2014 dealing with:
- expected credit losses
- the revised classification and measurement requirements.
Related content
Classification of income and expenses in the statement of profit or loss
IFRS 18In April 2024, the International Accounting Standards Board (IASB) issued IFRS 18 ‘Presentation and Disclosure in Financial Statements’, replacing IAS 1 ‘Presentation of Financial Statements’ for annual reporting periods beginning on or after January 1, 2027”.
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