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| IFRS Taxonomy 2010 updated for enhanced derecognition disclosure requirements for transfer transactions of financial assets Fri, 05 Nov 2010 13:47:44 GMT |
| IASB IFRS Taxonomy 2010 updated for enhanced derecognition disclosure requirements for transfer transactions of financial assets The IFRS Foundation today released an interim release for the International Financial Reporting Standards (IFRS) Taxonomy 2010 reflecting Disclosures - Transfers of Financial Assets (Amendments to IFRS 7), which was published by the IASB in October 2010. The IFRS Taxonomy 2010 is a translation of IFRSs as issued at 1 January 2010 into XBRL (eXtensible Business Reporting Language). IFRS Taxonomy interim releases contain additional taxonomy items that reflect new IFRSs and improvements to IFRSs published by the IASB. From an XBRL technology perspective, these additional items are consistent with the XBRL architecture of the 2010 taxonomy. In 2010, the IFRS Foundation made the decision to issue interim releases to support the early adoption of IFRSs, by providing taxonomy items earlier for entities wishing to report electronically using the latest IFRSs. The issue of IFRS Taxonomy interim releases following the publication of new IFRSs also serves to further align the Foundation’s XBRL activities with the activities of the IASB. Subsequent IFRSs and improvements that are issued in 2010 will not be published as interim releases. Instead, these standards and improvements will be incorporated into the development of the IFRS Taxonomy 2011. The public draft of the 2011 taxonomy is currently scheduled for release in January 2011. |
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