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            IFRS/AASB guides

            Making financial statements an effective communication tool

            The average length of financial statements has been growing for many years, as a result of new Standards and Amendments published by the IASB. In the coming years, new Standards on revenue, financial instruments and leasing will add even more disclosures.

            Navigating changes to IFRS for CFOs: a briefing for Chief Financial Officers

            This publication provides a high-level summary of recent changes to IFRS that will affect companies' future financial reporting. Changes are colour coded to help Chief Financial Officers identify the changes that will affect them most.

            The road to IFRS: A practical guide to IFRS 1 and first-time adoption

            IFRS 3 Business Combinations (IFRS 3) and IAS 27 Consolidated and Separate Financial Statements (IAS 27), were revised in January 2008 and apply to business combinations occurring on or after 1 July 2009. The revised Standards made major changes to business combination accounting and make this a challenging area in financial reporting.

            Navigating the accounting for business combination: Applying IFRS 3 in practice

            IFRS 3 Business Combinations (IFRS 3) and IAS 27 Consolidated and Separate Financial Statements (IAS 27), were revised in January 2008 and apply to business combinations occurring on or after 1 July 2009. The revised Standards made major changes to business combination accounting and make this a challenging area in financial reporting.

            Intangible Assets in a Business Combination: Identifying and Valuing Intangibles under IFRS/AASB3 - Business Combinations

            This publication is intended to assist companies and auditors in applying IFRS/AASB 3.

            IFRS 5/AASB 5: Non-current assets held for sale and discontinued operations - Challenges in applying IFRS 5

            This guide covers IFRS 5 Non-current Assets Held for Sale and Discontinued Operations which is identical to AASB 5 Non-current Assets Held for Sale and Discontinued Operations, apart from Australian regulatory references, is not a new standard but experience has shown that implementing it can be a complex and time-consuming exercise.

            Financial Instruments on Display: Illustrative Disclosures and Guidance under IFRS 7/AASB 7

            This guide provides an overview of IFRS 7 Financial Instruments: Disclosures.

            Operating segments: IFRS 8/AASB 8 - Applying IFRS 8 in practice

            This guide provides an overview of IASB published IFRS 8 Operating Segments (AASB 8 is the Australian  equivalent) which applies to listed entities and those in the process of listing for annual reporting period commencing on or after 1 January 2009.

            Under control?: A practical guide to applying IFRS 10 consolidated financial statements

            The guide has been written to assist management in transitioning to and applying IFRS 10.

            IFRS 15

            In May 2014 the International Accounting Standards Board and the US Financial Accounting Standards Board issued IFRS 15 'Revenue from Contracts with Customers'. This new Standard will be effective from 1 January 2017. It explains how to recognise revenue and provides additional guidance in areas not covered by existing IFRSs.

            Our Industry Insights series summarises IFRS 15 and explores what it means for various industries. This issue looks at the life sciences industry (healthcare and pharmaceutical sectors) and talks you through the implications in five steps.

            AASB 7/IAS 7: Statement of cash flows - A guide to avoiding common pitfalls and application issues

            This guide provides insights on avoiding the common pitfalls and application issues that regulators and our IFRS experts see in practice.

            Deferred tax: A Chief Financial Officer's guide to avoiding the pitfalls

            This is a guide to the preparation of financial statements under IFRS requires the application of IAS 12 ‘Income Taxes’ (IAS 12). Income taxes, as defined in IAS 12, include current tax and deferred tax.

            Capitalisation of borrowing costs: IAS 23/AASB 123

            This guide provides an overview of the IASB revised version of IAS 23 Borrowing Costs (AASB equivalent version AASB 123).

            IAS32/AASB132: Financial Instruments Presentation - Liability or equity?

            This is a practical guide to the classification of financial instruments under IAS 32.

            Impairment of assets: A guide to applying IAS 36 in practice

            This guide has been written to assist management in understanding the requirements of IAS 36 while highlighting some common areas of confusion seen in practice. 

            Preparing for Global Leasing Standards: Implications for the real estate industry

            This guide provides an overview of how these proposed changes in the leasing standard could impact the real estate industry.

            Financial Instruments - A Chief Financial Officer's guide to avoiding the traps

            The guide is intended for Chief Financial Officers (CFOs) of businesses that prepare financial statements under IFRS.

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