The following is the list of IFRS and IAS that issued by International Accounting Standard Board (IASB) in 2019. In 2019, there are 16 IFRS and 29 IAS. IAS will be replace IFRS once it is finalize and issue by IASB.

Objectivity concept in accounting is referred to as the principle which states that financial statements should be objective in nature. In other words, the financial information should be unbiased and free from any kind of internal and external influence.

As per companies accounting standard rules 2006, AS 18 is applicable for all the companies, Which is in contradiction of AS 18. Users of account is restricted in case of level 2 and level 3 enterprise, but still you will be requiring to diclose as it is mandated by Companies rule.

Overview. IAS 26 Accounting and Reporting by Retirement Benefit Plans outlines the requirements for the preparation of financial statements of retirement benefit plans. IAS 26 was issued in January 1987 and applies to annual periods beginning on or after 1 January 1988.

IAS 18 Revenue outlines the accounting requirements for when to recognise revenue from the sale of goods, rendering of services, and for interest, royalties and dividends. IAS 18 was reissued in December 1993 and is operative for periods beginning on or after 1 January 1995.

IFRS 15 Revenue from Contracts with Customers You’ll need to apply IFRS 15 for reporting periods beginning on or after 1 January 2018 (early application permitted); IFRS 15 will replace the following standards and interpretations: IAS 18 Revenue, IAS 11 Construction Contracts.

International Accounting Standards

Under IAS 18, the timing of revenue recognition from the sale of goods is based primarily on the transfer of risks and rewards. IFRS 15, instead, focuses on when control of those goods has transferred to the customer. This different approach may result in a change of timing for revenue recognition for some entities.