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08 November 2010

IFRS Taxonomy 2010 contains enhanced derecognition disclosure requirements for transfer transactions of financial assets


The IFRS Foundation released an interim release for the 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.

Press release



© IASB - International Accounting Standards Board

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