IFRS

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IFRS (International Financial Reporting Standards) and IAS (International Accounting Standards)

Adempiere seeks to be fully compliant with IFRS/IAS standards.

Currently aa review is being conducted of Adempiere and level of compliance is being documented. Where areas of non-compliance are identified, recommendations will be made in order to ensure that future versions meet full IFRS compliance.

The status of the review is as follows:

IASs:

• IAS 1 Presentation of Financial Statements
• IAS 2 Inventories
• IAS 7 Cash Flow Statements
• IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
• IAS 10 Events After the Balance Sheet Date
• IAS 11 Construction Contracts
• IAS 12 Income Taxes
• IAS 16 Property, Plant and Equipment
• IAS 17 Leases
• IAS 18 Revenue
• IAS 19 Employee Benefits
• IAS 20 Accounting for Government Grants and Disclosure of Government Assistance
• IAS 21 The Effects of Changes in Foreign Exchange Rates
• IAS 23 Borrowing Costs
• IAS 24 Related Party Disclosures
• IAS 26 Accounting and Reporting by Retirement Benefit Plans
• IAS 27 Consolidated and Separate Financial Statements
• IAS 28 Investments in Associates
• IAS 29 Financial Reporting in Hyperinflationary Economies
• IAS 31 Interests in Joint Ventures
• IAS 32 Financial Instruments: Presentation
• IAS 33 Earnings per Share
• IAS 34 Interim Financial Reporting
• IAS 36 Impairment of Assets
• IAS 37 Provisions, Contingent Liabilities and Contingent Assets
• IAS 38 Intangible Assets
• IAS 39 Financial Instruments: Recognition and Measurement
• IAS 40 Investment Property
• IAS 41 Agriculture