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Details

  • Service: Audit, IFRS
  • Type: Business and industry issue
  • Date: 9/3/2013

Are you prepared for the newly effective standards? 

Although no new standards were issued during the past three months, companies with a 30 September year end, and those with a first quarter or half year ending on that date, will be preparing for changes in accounting policy.

Companies with a 30 September year end will be applying two amendments for the first time in their annual financial statements – relating to the presentation of other comprehensive income and the measurement of deferred tax.

 

Companies with a 30 September first-quarter or half-year period end may see significant changes in their interim financial statements. Among others, the new consolidation suite of standards will be applied, as well as the revised standard on employee benefits.

Reminder: Effective dates of IFRS (2013/15)

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This edition serves as a reminder of newly effective standards and standards issued but not yet effective for annual reporting periods ending on or after 30 September 2013.

© 2014 KPMG IFRG Limited is a UK company, limited by guarantee. All rights reserved. KPMG IFRG Limited, registered in England No 5253019. Registered office: 8 Salisbury Square, London, EC4Y 8BB

 

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