The world of financial reporting has seen unprecedented change in recent years. All entities listed in the EU, and a growing number of other countries, are now issuing financial statements under International Financial Reporting Standards (IFRS). Yet more countries are preparing to make the change to IFRS. PricewaterhouseCoopers has the tools to help with the adoption and application of IFRS.
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What's new
A practical guide to new IFRSs for 2009
High-level outline of the key requirements of new IFRS standards and interpretations that come into effect in 2009, in question and answer format.
IFRS news December 2008: Special issue – credit crunch
This special edition features: Impairment of non-financial assets; employee benefits in a downturn; going concern; and PwC's recent IFRS publications - including guidance for the credit crunch. The Q&A supplement covers reclassification of financial assets. A practical guide to capitalisation of borrowing costs
Practical implications of applying IAS 23 (revised), 'Borrowing costs'. Guidance on impairment in current market conditions
The current economic slowdown will increase the likelihood that impairment charges will need to be taken and appropriate disclosures made. We have produced a list of the top 10 areas to watch out for, along with a set of questions and answers on impairment testing of non-financial assets. Illustrative IFRS financial statements 2008 - Investment funds
Model financial statements for a fictional investment fund illustrating the disclosure and presentation required by IFRSs applicable to financial years beginning on or after 1 January 2008. Segment reporting - An opportunity to explain the business
This six-page flyer highlights the high-level issues for management to consider when applying IFRS 8. Amendments to IAS 39 and IFRS 7 – reclassification of financial assets (32kb)
The International Accounting Standards Board has issued amendments to IAS 39, Financial instruments: Recognition and measurement’, and IFRS 7, ‘Financial instruments: Disclosure’, which permit the reclassification of some financial assets.The amendments address the differences between the reclassification requirements of IAS 39 and US GAAP and are effective immediately. They can therefore be applied for third-quarter results. What's new at the IASB:
