The International Accounting Standards Committee (IASC) has released a set of guidelines known as International Accounting Standards (IAS) with the goal of unifying financial reporting throughout the world. Purpose of the International Accounting Standards Committee (IASC) is to guarantee transparency, comparability, and consistency in financial statements across different countries. The standards cover a wide range of accounting issues including how to recognize, measure, present, and disclose transactions and other events in financial statements.
List Of International Accounting Standards (IAS):
Serial | Names of IAS | Effective Date | Status |
IAS~1 | Presentation of Financial statement | 2007 | Active |
IAS~2 | Inventories | 2005 | Active |
IAS~3 | Consolidated Financial Statements Originally issued 1976, Effective 1 | 1977 | Superseded in 1989 by IAS 27 and IAS 28. |
IAS~4 | Depreciation Accounting | 1976 | Withdrawn in 1999 |
IAS~5 | Information to be Disclosed in Financial statements | 1976 | Superseded by IAS 1 in 1997 |
IAS~6 | Accounting Responses to Changing Prices | 1978 | Superseded by IAS 15 Which was withdrawn December 2003 |
IAS~7 | Statement of Cash Flow | 1992 | Active |
IAS~8 | Accounting policies, Changes in Accounting Estimates and Errors | 2003 | Active |
IAS~9 | Accounting for research and Development Activities | 1980 | Superseded by IAS 38 |
IAS~10 | Events After the Reporting Period | 2003 | Active |
IAS~11 | Construction contracts | 1993 | Superseded by IFRS 38 in 2018 |
IAS~12 | Income Taxes | 1996 | Active |
IAS~13 | Presentation of current Assets and current Liabilities | 1981 | Superseded by IAS 1 in 1998 |
IAS~14 | Segment Reporting | 1997 | Superseded by IFRS 8 effective 1 January 2009 |
IAS~15 | Information Reflecting the Effects of Changing Price Withdrawn December 2003 | 2003 | Withdrawn December 2003 |
IAS~16 | Property, Plant and Equipment | 2003 | Active |
IAS~17 | Leases | 2003 | Superseded in 2019 by IFRS 16 |
IAS~18 | Revenue | 1993 | Superseded in 2018 by IFRS 15 |
IAS~19 | Employee Benefits | 2011 | Active |
IAS~20 | Accounting for Govt. Grants and Disclosure of Govt. Assistance | 1983 | Active |
IAS~21 | The Effects of changes in Foreign Exchange Rates | 2003 | Active |
IAS~22 | Business Combinations | 1998 | Superseded by IFRS 3 effective 31 March 2004 |
IAS~23 | Borrowing Costs | 2007 | Active |
IAS~24 | Related Party Disclosures | 2009 | Active |
IAS~25 | Accounting For Investments | 1987 | Superseded by IAS 39 and IAS 40 effective 2001 |
IAS~26 | Accounting and Reporting by Retirement Benefit Plants | 1987 | Active |
IAS~27 | Separate financial Statements | 2011 | Active |
IAS~27 | Consolidated and separate financial Statements | 2003 | Superseded by IFRS 10, IFRS 12 and IAS 27 (2011) effective 1 January |
IAS~28 | Investments in Associates and Joint Ventures (2011) | 2011 | Active |
IAS~28 | Investments in Associates | 2003 | Superseded by IAS 28 (2011) and IFRS 12 effective 1 January 2013 |
IAS~29 | Financial Reporting in Hyperinflationary Economics | 1989 | Active |
IAS~30 | Disclosures in the Financial Statements of Banks and Similar financial | 1990 | Superseded by IFRS 7 effective 2007 |
IAS~31 | Interests in Joint Ventures | 2003 | Superseded by IFRS 11 and IFRS 12 effective 1 January 2013 |
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