RegulationAccounting StandardsIFRS update summer 2006 – the IFRS universe

IFRS update summer 2006 - the IFRS universe

Where the difficulties have been...

ifrs special

In association with PwC

Where the difficulties have been…

Insurance
IFRS 4: insurance contracts
IAS 32 and IAS 39: as below

Banking
IAS 32 and
IAS 39: as below

Pharma
IAS: revenue
IAS 38: intangible assets

Standards all sectors have had issues with…
IAS 12: income taxes
IAS 39: financial instruments: recognition and measurement
IAS 32: financial instruments: disclosure and presentation
IAS 36: impairment of assets
IFRS 2: share-based payment transactions
IFRS 3: business combinations

Utilities
IAS 16: property, plant and equipment

Retail
IAS 18: revenue
IAS 17: leases

Entertainment, media and leisure
IAS 18: revenue
IAS 38: intangible assets

Info-com
IAS 18: revenue
IAS 38: intangible assets
As below

The platform won’t be stable for long – things to look out for in the
future

2006 and 2007

Amendments to:
Business combinations (IFRS 3, IAS 27)
Provisions and
Contingencies (IAS 37)
Financial instruments (IAS 32)
Performance reporting (IAS 1)
Earnings per share (IAS 33)
Share based payment (IFRS 2)
Borrowing costs (IAS 23)
Deferred tax (IAS 12)
Segment reporting (IAS 14)
Joint ventures (IAS 31)
Accounting standards for SMEs

2008 and later

Consolidation
Revenue
Performance reporting
Government grants
Insurance contracts
Financial instruments
Liabilities and equity
Pensions
Leases
Intangible assets

Source: PricewaterhouseCoopers

Link: For the latest news and analysis on IFRS, updated
every week, visit Access IFRS –
PwC’s IFRS
resource centre
.

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