International Financial Reporting Standards IFRS

International Financial Reporting Standards (IFRS) The 17th edition of the IDW Text Edition IFRS contains the consolidated text of all new or amended standards and interpretations of the IASB that have been adopted into European law. The updates compared to the 16th edition include: - International Accounting Standard (IAS) 1 Presentation of Financial Statements, with new regulations for classifying debts as short-term or long-term and long-term debts with conditions. - International Financial Reporting Standard (IFRS) 16 Leases, which now includes regulations for the accounting of lease liabilities in the context of a sale-and-leaseback transaction. - An amendment to IAS 12 Income Taxes, to provide relief for reporting companies regarding the upcoming implementation of the OECD Model Rules (Pillar Two) in terms of accounting for and disclosing the resulting deferred taxes. The 17th edition of the IDW Text Edition of the IFRS also takes into account Regulation (EU) 2023/1803 of the Commission dated August 13, 2023, which subjected the IFRS adopted into EU law to an editorial overhaul. All the benefits of the IDW Text Edition of the IFRS at a glance: - Current consolidated version of the official EU IFRS (including EU regulations and comments) - Synoptic presentation in English-German - Compact, handy book format - Access to the extensive IFRS digital library, which includes: - IDW Text Edition IFRS online (with ongoing updates) - WPg contributions to international accounting - IDW statements on the IFRS - WP Handbook: Overview of IFRS accounting.