IASB publishes proposals for amendments under its annual improvements project
The International Accounting Standards Board (IASB) today published for public comment an exposure draft of proposed amendments to five International Financial Reporting Standards (IFRSs) under its annual improvements project. The project provides a streamlined process for dealing efficiently with a collection of narrow scope amendments to IFRSs http://www.ifrs.org/Alerts/PressRelease/API+ED+22+June+2011.htm
IFRS Foundation concludes pilot XBRL initiative with US public companies
The IFRS Foundation has successfully concluded the pilot initiative that it launched in April to work with US-listed foreign companies to produce IFRS financial reports in XBRL (eXtensible Business Reporting Language) that are compliant with US SEC (United States Securities and Exchange Commission) requirements.
IFRS Foundation publishes proposed IFRS Taxonomy enhancements for reporting common-practice
The IFRS Foundation today published for public comment an exposure draft of the IFRS Taxonomy 2011 interim release: common-practice concepts. The proposed interim release contains supplementary tags for the IFRS Taxonomy that reflect disclosures that are commonly reported by entities in their IFRS financial statements. The supplementary tags are intended to enhance the comparability of financial information, and are consistent with IFRSs and with the XBRL (eXtensible Business Reporting Language) architecture of the IFRS Taxonomy 2011.