Improving comparability

摘要

In the February edition we provided a summary of the major revisions to IFRS 3, Business Combinations ('A combination of changes': p78). In this article, me focus on the amendments to IAS 27, Consolidated and Separate Financial Statements, which were published by the International Accounting Standards Board (IASB) at the same time in January. The amendments will improve comparability among entities applying International Financial Reporting Standards (IFRS) by addressing an area of significant divergence in practice. The publication of equivalent requirements in the US will also improve comparability worldwide.