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IFRS : ウィキペディア英語版
International Financial Reporting Standards

International Financial Reporting Standards (IFRS) are designed as a common global language for business affairs so that company accounts are understandable and comparable across international boundaries. They are a consequence of growing international shareholding and trade and are particularly important for companies that have dealings in several countries. They are progressively replacing the many different national accounting standards. They are the rules to be followed by accountants to maintain books of accounts which are comparable, understandable, reliable and relevant as per the users internal or external.
IFRS, with the exception of ''IAS 29 Financial Reporting in Hyperinflationary Economies'' and ''IFRIC 7 Applying the Restatement Approach under IAS 29'', are authorized in terms of the historical cost paradigm. IAS 29 and IFRIC 7 are authorized in terms of the units of constant purchasing power paradigm.〔(IFRS Interpretations Committee Meeting: IAS 29 Financial Reporting in Hyperinflationary Economies: Applicability of the concept of financial capital maintenance defined in constant purchasing power units. 1 (a) )〕〔(Conceptual Framework (2010) Par. 4.59 (a) "Financial capital maintenance can be measured in either nominal monetary units or units of constant purchasing power." )〕
IFRS began as an attempt to harmonize accounting across the European Union but the value of harmonization quickly made the concept attractive around the world. However, it has been debated whether or not de facto harmonization has occurred. Standards that were issued by IASC (the predecessor of IASB) and are still within use today go by the name International Accounting Standards (IAS), while standards issued by IASB are called IFRS. IAS were issued between 1973 and 2001 by the Board of the International Accounting Standards Committee (IASC). On 1 April 2001, the new International Accounting Standards Board (IASB) took over from the IASC the responsibility for setting International Accounting Standards. During its first meeting the new Board adopted existing IAS and Standing Interpretations Committee standards (SICs). The IASB has continued to develop standards calling the new standards "International Financial Reporting Standards".
''In the absence of a Standard or an Interpretation that specifically applies to a transaction, management must use its judgement in developing and applying an accounting policy that results in information that is relevant and reliable. In making that judgement, IAS 8.11 requires management to consider the definitions, recognition criteria, and measurement concepts for assets, liabilities, income, and expenses in the Framework.''

Criticisms of IFRS are (1) that they are not being adopted in the US (see GAAP), (2) a number of criticisms from France and (3) that ''IAS 29 Financial Reporting in Hyperinflationary Economies'' had no positive effect at all during 6 years in Zimbabwe's hyperinflationary economy. The IASB offered responses to the first two criticisms, but has offered no response to the last criticism while IAS 29 is currently (March 2014) being implemented in its original ineffective form in Venezuela and Belarus.
==Objective of financial statements==

Financial statements are a structured representation of the financial positions and financial performance of an entity. The objective of financial statements is to provide information about the financial position, financial performance and cash flows of an entity that is useful to a wide range of users in making economic decisions. Financial statements also show the results of the management's stewardship of the resources entrusted to it.〔(Paragraph 9 of the standard IAS 1 )〕
To meet this objective, financial statements provide information about an entity's:
This information, along with other information in the notes, assists users of financial statements in predicting the entity's future cash flows and, in particular, their timing and certainty.〔
The following are the general features in IFRS:
* Fair presentation and compliance with IFRS: Fair presentation requires the faithful representation of the effects of the transactions, other events and conditions in accordance with the definitions and recognition criteria for assets, liabilities, income and expenses set out in the Framework of IFRS.〔(Paragraph 15 of the standard IAS 1 )〕
* Going concern: Financial statements are present on a going concern basis unless management either intends to liquidate the entity or to cease trading, or has no realistic alternative but to do so.〔(Paragraph 25 of the standard IAS 1 )〕
* Accrual basis of accounting: An entity shall recognise items as assets, liabilities, equity, income and expenses when they satisfy the definition and recognition criteria for those elements in the Framework of IFRS.〔(Paragraph 28 of the standard IAS 1 )〕
* Materiality and aggregation: Every material class of similar items has to be presented separately. Items that are of a dissimilar nature or function shall be presented separately unless they are immaterial.〔(Paragraph 29 of the standard IAS 1 )〕
* Offsetting: Offsetting is generally forbidden in IFRS.〔(Paragraph 32 of the standard IAS 1 )〕 However certain standards require offsetting when specific conditions are satisfied (such as in case of the accounting for defined benefit liabilities in IAS 19 〔(Paragraph 57, 63 of the standard IAS 19 )〕 and the net presentation of deferred tax liabilities and deferred tax assets in IAS 12〔(Paragraph 71 of the standard IAS 12 )〕 ).
* Frequency of reporting: IFRS requires that at least annually a complete set of financial statements is presented.〔(Paragraph 36 of the standard IAS 1 )〕 However listed companies generally also publish interim financial statements (for which the accounting is fully IFRS compliant)for which the presentation is in accordance with IAS 34 ''Interim Financing Reporting''.
* Comparative information: IFRS requires entities to present comparative information in respect of the preceding period for all amounts reported in the current period's financial statements. In addition comparative information shall also be provided for narrative and descriptive information if it is relevant to understanding the current period's financial statements.〔(Paragraph 38 of the standard IAS 1 )〕 The standard IAS 1 also requires an additional statement of financial position (also called a third balance sheet) when an entity applies an accounting policy retrospectively or makes a retrospective restatement of items in its financial statements, or when it reclassifies items in its financial statements. This for example occurred with the adoption of the revised standard IAS 19 (as of 1 January 2013) or when the new consolidation standards IFRS 10-11-12 were adopted (as of 1 January 2013 or 2014 for companies in the European Union).〔(Paragraph 10f of the standard IAS 1 )〕
* Consistency of presentation: IFRS requires that the presentation and classification of items in the financial statements is retained from one period to the next unless:

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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