Year-End Accounting Reminders – IFRS, December 2012

Introduction

This publication relates to reporting requirements as at 31 December 2012. It highlights the topical issues to consider and the new standards and interpretations that apply at this date.

Topical issues at 31 December 2012

This section summarises some accounting hot topics that may impact December 2012 year ends.

Impact of adopting IAS 19 revised

IAS 8 para 30 requires that when an entity has not applied a new IFRS that has been issued but is not yet effective, that the entity discloses this fact and known or reasonably estimable information relevant to assessing the possible impact on the entity's financial statements. We expect that such disclosure would include both the quantitative and qualitative impact of adoption.