Examples of IASB in a sentence
Compliance with IFRS These financial statements and notes comply with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB).
In subsequent phases, the IASB will address hedge accounting and impairment of financial assets.
However, as the IASB has updated the guidance on the definition of a lease (as well as the guidance on the combination and separation of contracts), lessors will also be affected by the new standard.
IFRS 9, Financial Instruments (“IFRS 9”): In July 2014, the IASB issued IFRS 9, Financial Instruments, to replace International Accounting Standard 39, Financial In- struments – Recognition and Measurement (“IAS 39”).
The purpose of the Conceptual Framework is to assist the IASB in developing standards, to help preparers develop consistent accounting policies where there is no applicable standard in place and to assist all parties to understand and interpret the standards.