IFRS Accounting Standards are issued by the International Accounting Standards Board (IASB). The set comprises the numbered IFRS standards, issued since 2003, and the older IAS standards, issued by the predecessor IASC, which remain in force unless replaced. This page lists them in plain English. Where we have a detailed guide, the standard links to it.
IFRS standards
| Standard | Title | What it covers |
|---|---|---|
| IFRS 1 | First-time Adoption of IFRS | How an entity moves to IFRS for the first time, including exemptions. |
| IFRS 2 | Share-based Payment | Accounting for equity-settled and cash-settled share-based payments. |
| IFRS 3 | Business Combinations | The acquisition method, goodwill and non-controlling interests. |
| IFRS 4 | Insurance Contracts | Superseded by IFRS 17. |
| IFRS 5 | Non-current Assets Held for Sale and Discontinued Operations | Classification, measurement and presentation of disposals. |
| IFRS 6 | Exploration for and Evaluation of Mineral Resources | Accounting for exploration and evaluation expenditure. |
| IFRS 7 | Financial Instruments: Disclosures | Disclosures on financial instruments and the risks arising from them. |
| IFRS 8 | Operating Segments | Segment reporting based on management's view. |
| IFRS 9 | Financial Instruments | Classification, measurement, expected credit losses and hedge accounting. |
| IFRS 10 | Consolidated Financial Statements | The control model and consolidation. |
| IFRS 11 | Joint Arrangements | Joint operations and joint ventures. |
| IFRS 12 | Disclosure of Interests in Other Entities | Disclosures on subsidiaries, associates, joint arrangements and unconsolidated entities. |
| IFRS 13 | Fair Value Measurement | How fair value is measured, and the three-level fair value hierarchy. |
| IFRS 14 | Regulatory Deferral Accounts | An interim standard for rate-regulated entities. |
| IFRS 15 | Revenue from Contracts with Customers | The five-step revenue recognition model. |
| IFRS 16 | Leases | On-balance-sheet lease accounting for lessees. |
| IFRS 17 | Insurance Contracts | Measurement and presentation of insurance contracts. |
| IFRS 18 | Presentation and Disclosure in Financial Statements | New income statement structure and management-defined performance measures. Replaces IAS 1 for periods beginning on or after 1 January 2027. |
| IFRS 19 | Subsidiaries without Public Accountability: Disclosures | Reduced disclosures for eligible subsidiaries. Effective for periods beginning on or after 1 January 2027. |
IAS standards still in force
| Standard | Title | What it covers |
|---|---|---|
| IAS 1 | Presentation of Financial Statements | General presentation. To be replaced by IFRS 18 from 1 January 2027. |
| IAS 2 | Inventories | Measurement at the lower of cost and net realisable value. |
| IAS 7 | Statement of Cash Flows | Classification of cash flows into operating, investing and financing. |
| IAS 8 | Accounting Policies, Changes in Accounting Estimates and Errors | Selecting policies, and correcting prior-period errors. |
| IAS 10 | Events after the Reporting Period | Adjusting and non-adjusting events. |
| IAS 12 | Income Taxes | Current and deferred tax. |
| IAS 16 | Property, Plant and Equipment | Recognition, measurement, depreciation and revaluation. |
| IAS 19 | Employee Benefits | Short-term benefits, pensions and other long-term benefits. |
| IAS 20 | Government Grants | Accounting for government grants and assistance. |
| IAS 21 | The Effects of Changes in Foreign Exchange Rates | Functional currency, translation and foreign operations. |
| IAS 23 | Borrowing Costs | Capitalisation of borrowing costs on qualifying assets. |
| IAS 24 | Related Party Disclosures | Disclosure of related party relationships and transactions. |
| IAS 26 | Accounting and Reporting by Retirement Benefit Plans | Financial statements of pension plans. |
| IAS 27 | Separate Financial Statements | Accounting for investments in separate financial statements. |
| IAS 28 | Investments in Associates and Joint Ventures | The equity method. |
| IAS 29 | Financial Reporting in Hyperinflationary Economies | Restating financial statements for hyperinflation. |
| IAS 32 | Financial Instruments: Presentation | Debt versus equity classification and offsetting. |
| IAS 33 | Earnings per Share | Basic and diluted EPS. |
| IAS 34 | Interim Financial Reporting | Content of interim reports. |
| IAS 36 | Impairment of Assets | Impairment testing and recoverable amount. |
| IAS 37 | Provisions, Contingent Liabilities and Contingent Assets | Recognition and measurement of provisions. |
| IAS 38 | Intangible Assets | Recognition and measurement of intangibles, including development costs. |
| IAS 40 | Investment Property | Property held for rental or capital appreciation. |
| IAS 41 | Agriculture | Biological assets and agricultural produce. |
Standards that have been replaced
- IAS 17 Leases was replaced by IFRS 16.
- IAS 11 Construction Contracts and IAS 18 Revenue were replaced by IFRS 15.
- IAS 39 Financial Instruments: Recognition and Measurement was largely replaced by IFRS 9. Entities may still elect to continue applying the IAS 39 hedge accounting requirements.
- IFRS 4 Insurance Contracts was replaced by IFRS 17.
IFRS for SMEs
The IASB also issues a separate, simplified standard, IFRS for SMEs Accounting Standard, designed for smaller entities without public accountability. Whether it can be used is decided by each jurisdiction.
Frequently asked questions
What is IFRS?
IFRS stands for International Financial Reporting Standards, the global accounting framework issued by the IASB and used by companies in well over a hundred jurisdictions.
What is the difference between IFRS and IAS?
IAS standards were issued before 2001 by the International Accounting Standards Committee. IFRS standards are issued by its successor, the IASB. Both are part of IFRS Accounting Standards, and the IAS standards remain in force unless replaced.
Is IFRS used in the United States?
US domestic companies use US GAAP. The SEC accepts IFRS financial statements from foreign private issuers without a reconciliation to US GAAP. See our IFRS vs US GAAP comparison.
What is the newest IFRS standard?
IFRS 18 Presentation and Disclosure in Financial Statements and IFRS 19 Subsidiaries without Public Accountability: Disclosures, both issued in 2024 and effective for annual periods beginning on or after 1 January 2027.