IFRS Publications

         
 

Luxembourg publications

 

Global publications

 

Active management of real estate assets is becoming a strategic imperative for users, and the newly established lease accounting standard is an incentive to reconsider real estate strategy.





The International Accounting Standards Board new standard on financial instruments better aligns hedge accounting with the risk management activities of an entity. It also removes, or amends, key bans and rules existing under IAS 39. The new standard should be enacted by the European Union by the end of 2015 and applicable as from January 2018.




IFRS 15 - Getting ready for the new revenue recognition model

The IASB's new revenue recognition standard is now with us. It becomes effective for accounting periods ending on or after 1 January 2017 and is expected to be endorsed by E.U. The standard has implications for everyone but the new requirements will require a substantial shift in the way of thinking and financial reporting in some sectors.




In October 2012 the IASB issued the amendments to IFRS 10 Consolidated Financial Statements, IFRS 12 Disclosure of Interests in Other entities and IAS 27 Separate Financial Statements. The amendment is effective for annual periods beginning on or after 1 January 2014.




IFRS and Luxembourg GAAP

International Financial Reporting Standards (IFRS) are gaining momentum. The globalisation of business and finance has inevitably led to calls for a common set of high quality, global accounting standards. IFRS has been successfully adopted in almost a hundred countries over the last couple years. The IAS Regulation issued by the European Union (EU) in 2002 requires that listed companies in Europe prepare financial information using IFRS.
This publication has been designed to provide the reader with a general comparison between Generally Accepted Accounting Practices in force in the Luxembourg non financial sector as provided by the law of 19 December 2002 amended by the law of 10 December 2010, and the standards and interpretations currently forming the IFRS accounting framework, as adopted by the European Union.




Similarities and Differences - IFRS and Luxembourg Banking GAAP

International Financial Reporting Standards (IFRS) are gaining momentum. The globalisation of business and finance has inevitably led to calls for a common set of highquality, global accounting standards. IFRS has been successfully adopted in almost a hundred countries over the last couple of years.
This publication has been designed to provide the reader with a general comparison between Generally Accepted Accounting Practices in force in the Luxembourg banking sector as provided by the law of 17 June 1992, as amended, and the standards and interpretations currently forming the IFRS accounting framework, as adopted by the European Union.