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The IASB uses the Annual Improvements process to make necessary, but non-urgent, amendments to IFRSs that will not be included as part of any other project. By presenting the amendments in the form of a single document rather than as a series of piecemeal changes, the IASB aims to ease the burden of change for all concerned.
Annual Improvements to IFRSs 2010–2012 Cycle is a collection of amendments to IFRSs in response to eight issues addressed during the 2010–2012 cycle for annual improvements to IFRSs. These amendments result from proposals that were contained in the Exposure Draft Annual Improvements to IFRSs 2010–2012 Cycle, published in May 2012.
Annual Improvements to IFRSs 2011–2013 Cycle is a collection of amendments to IFRSs in response to four issues addressed during the 2011–2013 cycle. These amendments result from proposals that were contained in the Exposure Draft Annual Improvements to IFRSs 2011–2013 Cycle, published in November 2012.
The effective date of each amendment is included in the IFRSs affected.