Reporting standards get a tidy

What does the Annual Improvements to IFRS Accounting Standards cover?

An explanation of the newest accounting standards

A summary of all of the changes made this year

A combination of narrow amendments across a number of standards

None of these

Which of the following standards is included in the recent Annual Improvements?

IFRS 15, Revenue from contracts with customers

IAS 38, Intangible Assets

IFRS 13, Fair value measurement

IFRS 9, Financial Instruments

Which, if any, of the following statements are true? Statement 1, the proposed changes will be mandatory, or statement 2, the proposals will relate to changes to the standard themselves, not just providing additional guidance

Neither statement

Both statements

Statement 1 only

Statement 2 only

The change in terminology to IFRS 1 makes it consistent with which other standard?

IFRS 16, Leases

IFRS 10, Consolidated Financial Statements

IFRS 9, Financial Instruments

IAS 7, Statement of Cash Flows

Which standard has had the term 'cost method' removed from it?

IAS 7, Statement of Cash Flows

IFRS 16, Leases

IFRS 10, Consolidated Financial Statements

IFRS 9, Financial Instruments

Which standard had a potential inconsistency in language within itself?

IFRS 10, Consolidated Financial Statements

IFRS 9, Financial Instruments

IAS 7, Statement of Cash Flows

IFRS 16, Leases

Which standard needed to be adjusted for an ambiguity around the derecognition of a liability?

IFRS 16, Leases

IFRS 10, Consolidated Financial Statements

IAS 7, Statement of Cash Flows

IFRS 9, Financial Instruments

Which of these statements is true regarding acquisitions under the equity method? Statement 1, a gain or loss should be calculated on derecognition of a lease liability, or statement 2, any gain or loss arising should be recorded in profit or loss

Statement 2 only is true

Statement 1 only is true

Both statements are true

Neither statement is true

The clarification around 'de facto agents' is in which standard?

IFRS 10, Consolidated Financial Statements

IAS 7, Statement of Cash Flows

IFRS 9, Financial Instruments

IFRS 16, Leases

Which, if any, of the following statements is correct? Statement 1, the Annual Improvements document does not introduce a new IFRS accounting standard, or statement 2, all items in the Annual Improvements document must be linked around a common theme

Statement 2 only is correct

Neither statement is correct

Both statements are correct

Statement 1 only is correct

Reporting standards get a tidy

What does the Annual Improvements to IFRS Accounting Standards cover?

Which of the following standards is included in the recent Annual Improvements?

Which, if any, of the following statements are true? Statement 1, the proposed changes will be mandatory, or statement 2, the proposals will relate to changes to the standard themselves, not just providing additional guidance

The change in terminology to IFRS 1 makes it consistent with which other standard?

Which standard has had the term 'cost method' removed from it?

Which standard had a potential inconsistency in language within itself?

Which standard needed to be adjusted for an ambiguity around the derecognition of a liability?

Which of these statements is true regarding acquisitions under the equity method? Statement 1, a gain or loss should be calculated on derecognition of a lease liability, or statement 2, any gain or loss arising should be recorded in profit or loss

The clarification around 'de facto agents' is in which standard?

Which, if any, of the following statements is correct? Statement 1, the Annual Improvements document does not introduce a new IFRS accounting standard, or statement 2, all items in the Annual Improvements document must be linked around a common theme

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