On or about 14 January 2019, the Accounting Standards\nCouncil (ASC) issued a revised Conceptual Framework for Financial Reporting and\nnew\/revised\/amendments to SFRS(I)s up to 31 December 2019 which are effective\nfor annual reporting periods beginning after 1 January 2019, which is based on a\ncomprehensive set of concepts for financial reporting, the revised Conceptual\nFramework for Financial Reporting (Conceptual Framework) issued by the International\nAccounting Standards Board (IASB) in March 2018.<\/p>\n\n\n\n
The revised Conceptual Framework issued by IASB has an\neffective date of 1 January 2020 \u2014 with earlier application permitted \u2014 for\ncompanies that use the Conceptual Framework to develop accounting policies when\nno IFRS Standard applies to a particular transaction. To assist companies with\nthe transition, the IASB issued a separate accompanying document Amendments to\nReferences to the Conceptual Framework in IFRS Standards. This document updates\nsome references to previous versions of the Conceptual Framework in IFRS\nStandards, their accompanying documents and IFRS Practice Statements.<\/p>\n\n\n\n
To receive any further updates on the Conceptual Framework,\nplease refer to IFRS website.<\/p>\n\n\n\n
Source: ASC, 14 January 2019<\/p>\n","protected":false},"excerpt":{"rendered":"
On or about 14 January 2019, the Accounting Standards Council (ASC) issued a revised Conceptual Framework for Financial Reporting and new\/revised\/amendments to SFRS(I)s up to 31 December 2019 which are effective for annual reporting periods beginning after 1 January 2019, which is based on a comprehensive set of concepts for financial reporting, the revised Conceptual […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7,6],"tags":[],"class_list":["post-899","post","type-post","status-publish","format-standard","hentry","category-accounting","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/comments?post=899"}],"version-history":[{"count":1,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/899\/revisions"}],"predecessor-version":[{"id":900,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/899\/revisions\/900"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=899"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}