2017 IFRS Standards (Red Book), Part A

1568 Pages·2017·4.594 MB·English

by  IASB, IFRS Foundation

IFRS® Standards
as issued at 1 January 2017
This edition is issued in two parts
PART A
When the International Accounting Standards Board (the Board) issues new Standards, it
generally allows an entity to apply the new requirements before the mandatory effective
date. Thistextconsolidatesthemostrecentlyissuedrequirements,assumingthatallIFRS
StandardsandIFRIC®Interpretationshavebeenappliedearly. TheStandardsthatthesenew
requirements are replacing or superseding are not included in this text, even where they
remain applicable. Readers seeking the IFRS Standards and IFRIC Interpretations
consolidatedwithoutassumingearlyapplicationshouldrefertothe2017editionofIFRS®
Standards(BlueBook),whichwaspublishedattheendof2016.

IFRS® Standards
as issued at 1 January 2017
This edition is issued in two parts
PART A
The Preface to International Financial Reporting Standards, the
Conceptual Framework for Financial Reporting and the
consolidated text of the IFRS Standards (including IAS®
Standards, IFRIC® Interpretations and SIC® Interpretations) as
issued at 1 January 2017
(Glossary and Index included)
For the accompanying documents issued with the
Standards, and other relevant material, see Part B of this
edition
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ISBNforthispart:978-1-911040-45-3
ISBNforcompletepublication(twoparts):978-1-911040-44-6
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Contents
page
Changesinthisedition A1
Introductiontothisedition A7
PrefacetoInternationalFinancialReportingStandards A15
TheConceptualFrameworkforFinancialReporting A21
IFRSStandards
IFRS1 First-timeAdoptionofInternationalFinancialReportingStandards A53
IFRS2 Share-basedPayment A89
IFRS3 BusinessCombinations A131
IFRS4 InsuranceContracts A179
IFRS5 Non-currentAssetsHeldforSaleandDiscontinuedOperations A219
IFRS6 ExplorationforandEvaluationofMineralResources A239
IFRS7 FinancialInstruments:Disclosures A249
IFRS8 OperatingSegments A305
IFRS9 FinancialInstruments A321
IFRS10 ConsolidatedFinancialStatements A481
IFRS11 JointArrangements A539
IFRS12 DisclosureofInterestsinOtherEntities A569
IFRS13 FairValueMeasurement A595
IFRS14 RegulatoryDeferralAccounts A641
IFRS15 RevenuefromContractswithCustomers A661
IFRS16 Leases A719
IASStandards
IAS1 PresentationofFinancialStatements A763
IAS2 Inventories A801
IAS7 StatementofCashFlows A813
IAS8 AccountingPolicies,ChangesinAccountingEstimatesandErrors A829
IAS10 EventsaftertheReportingPeriod A845
IAS12 IncomeTaxes A855
IAS16 Property,PlantandEquipment A893
IAS19 EmployeeBenefits A915
continued...
...continued
IAS20 AccountingforGovernmentGrantsandDisclosureofGovernment A963
Assistance
IAS21 TheEffectsofChangesinForeignExchangeRates A973
IAS23 BorrowingCosts A991
IAS24 RelatedPartyDisclosures A1001
IAS26 AccountingandReportingbyRetirementBenefitPlans A1013
IAS27 SeparateFinancialStatements A1025
IAS28 InvestmentsinAssociatesandJointVentures A1035
IAS29 FinancialReportinginHyperinflationaryEconomies A1051
IAS32 FinancialInstruments:Presentation A1061
IAS33 EarningsperShare A1099
IAS34 InterimFinancialReporting A1123
IAS36 ImpairmentofAssets A1139
IAS37 Provisions,ContingentLiabilitiesandContingentAssets A1185
IAS38 IntangibleAssets A1205
IAS39 FinancialInstruments:RecognitionandMeasurement A1237
IAS40 InvestmentProperty A1271
IAS41 Agriculture A1293
Interpretations
IFRIC1 ChangesinExistingDecommissioning,RestorationandSimilar A1307
Liabilities
IFRIC2 Members’SharesinCo-operativeEntitiesandSimilarInstruments A1315
IFRIC5 RightstoInterestsarisingfromDecommissioning,Restorationand A1327
EnvironmentalRehabilitationFunds
IFRIC6 LiabilitiesarisingfromParticipatinginaSpecificMarket—Waste A1335
ElectricalandElectronicEquipment
IFRIC7 ApplyingtheRestatementApproachunderIAS29Financial A1341
ReportinginHyperinflationaryEconomies
IFRIC10 InterimFinancialReportingandImpairment A1347
IFRIC12 ServiceConcessionArrangements A1353
IFRIC14 IAS19—TheLimitonaDefinedBenefitAsset,MinimumFunding A1365
RequirementsandtheirInteraction
IFRIC16 HedgesofaNetInvestmentinaForeignOperation A1373
continued...
...continued
IFRIC17 DistributionsofNon-cashAssetstoOwners A1387
IFRIC19 ExtinguishingFinancialLiabilitieswithEquityInstruments A1395
IFRIC20 StrippingCostsintheProductionPhaseofaSurfaceMine A1403
IFRIC21 Levies A1411
IFRIC22 ForeignCurrencyTransactionsandAdvanceConsideration A1419
SIC-7 IntroductionoftheEuro A1427
SIC-10 GovernmentAssistance—NoSpecificRelationtoOperatingActivities A1431
SIC-25 IncomeTaxes—ChangesintheTaxStatusofanEntityorits A1435
Shareholders
SIC-29 ServiceConcessionArrangements:Disclosures A1439
SIC-32 IntangibleAssets—WebSiteCosts A1445
Glossary
Index

Changesinthisedition
Changes in this edition
Thissectionisabriefguidetothechangessincethe2016editionthatareincorporatedin
this2017editionofIFRS®Standards(theRedBook).
Introduction
This volume includes the latest consolidated versions of all IFRS Standards, together with
theamendmentstoStandardsthathaveaneffectivedateafter1January2017.
ReadersseekingonlytheconsolidatedtextofStandardsthatareeffectiveon1January2017
shouldrefertothe2017editionofIFRS®Standards(theBlueBook).
New requirements since the 2016 Red Book
The2016editionoftheRedBookcontainedStandardsissuedat13January2016inorderto
include IFRS 16 Leases, which was published on that date. The following are the main
changesmadesince1January2016:
● amendmentstothefollowingStandards:IAS7StatementofCashFlows,IAS12Income
Taxes,IFRS15RevenuefromContractswithCustomers,IFRS2Share-basedPayment,IFRS4
InsuranceContractsandIAS40InvestmentProperty;
● an IFRIC® Interpretation: IFRIC 22 Foreign Currency Transactions and Advance
Consideration;and
● one set of Annual Improvements: Annual Improvements to IFRS® Standards 2014–2016
Cycle.
Thefollowingtableprovidesthepublicationandeffectivedatesofamendmentsmadetothe
Standardssincethe2016RedBookwasissued. NoStandardshavebeenwithdrawn.
Standard/Interpretation/ When Effectivedate Standards
Amendmentissued issued (earlyapplication amended
ispossible,unless
notedotherwise)
DisclosureInitiative January 1January2017 IAS7
(AmendmentstoIAS7) 2016
RecognitionofDeferredTax January 1January2017 IAS12
AssetsforUnrealisedLosses 2016
(AmendmentstoIAS12)
ClarificationstoIFRS15Revenue April2016 1January2018 IFRS15
fromContractswithCustomers
ClassificationandMeasurementof June2016 1January2018 IFRS2
Share-basedPayment
Transactions
(AmendmentstoIFRS2)
continued...
(cid:2)IFRSFoundation A1
Changesinthisedition
...continued
Standard/Interpretation/ When Effectivedate Standards
Amendmentissued issued (earlyapplication amended
ispossible,unless
notedotherwise)
ApplyingIFRS9Financial September 1January2018 IFRS4
InstrumentswithIFRS4 2016
InsuranceContracts
(AmendmentstoIFRS4)
TransfersofInvestmentProperty December 1January2018 IAS40
(AmendmentstoIAS40) 2016
AnnualImprovementsto December
IFRS®Standards2014–2016 2016
Cycle:
AmendmentstoIFRS1 1January2018 IFRS1,IFRS7,
IFRS10,IAS19
AmendmentstoIFRS12 1January2017 IFRS12
AmendmentstoIAS28 1January2018 IAS28
IFRIC®Interpretation22 December 1January2018 IFRS1
ForeignCurrencyTransactions 2016
andAdvanceConsideration
Earlier application of these amendments and this IFRIC Interpretation are (or were)
permittedexceptfortheannualimprovementrelatedtoIFRS1. Theannualimprovements
toIFRS1deletedreliefsthatarenolongerrelevanttofirst-timeadoptersofIFRSStandards.
New and revised Standards and Interpretations are available to eIFRS subscribers at:
http://eifrs.ifrs.org/eifrs/PDFArchive?categoryId=71.
Thenarrativebelowfurtherexplainstheamendmentslistedinthetable.
Amendments to Standards issued as separate documents
Disclosure Initiative (Amendments to IAS 7)
TheamendmentstoIAS7StatementofCashFlowsmadeinDisclosureInitiative(Amendmentsto
IAS7)respondtoinvestors’requestsforimproveddisclosuresaboutchangesinanentity’s
liabilities arising from financing activities. The amendments require entities to provide
disclosures that enable users of financial statements to evaluate changes in liabilities
arising from financing activities, including both changes arising from cash flows and
non-cashchanges.
A2 (cid:2)IFRSFoundation