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| − | {{insert page}} is a set of accounting and financial reporting standards for companies ('entities') adopted by many countries globally. | + | {{this}} ({{insert page}}) is a set of accounting and financial reporting standards for companies ('entities') adopted by many countries globally. {{insert page}} constitutes a standardized way of describing a company's financial performance, position, equity, and cash flow. |
The standards recognize the following major elements: | The standards recognize the following major elements: | ||
| − | * [[Link::Income|Income]] - Increases in economic benefit during an accounting period - inflows or enhancements of assets, or decrease of liabilities, that result in increases in equity. Except contributions made by the equity participants (for example owners, partners or shareholders) | + | * [[Link::t:Income|Income]] - Increases in economic benefit during an accounting period - inflows or enhancements of assets, or decrease of liabilities, that result in increases in equity. Except contributions made by the equity participants (for example owners, partners or shareholders) |
* [[Link::t:Expense|Expenses]] - Decreases in assets, or increases in liabilities, that result in decreases in equity. Except for distributions made to the equity participants. | * [[Link::t:Expense|Expenses]] - Decreases in assets, or increases in liabilities, that result in decreases in equity. Except for distributions made to the equity participants. | ||
* [[Link::t:Asset|Assets]] - Economic resources controlled by the entity as a result of past events which are expected to generate future economic benefits | * [[Link::t:Asset|Assets]] - Economic resources controlled by the entity as a result of past events which are expected to generate future economic benefits | ||
International Financial Reporting Standards (IFRS) is a set of accounting and financial reporting standards for companies ('entities') adopted by many countries globally. IFRS constitutes a standardized way of describing a company's financial performance, position, equity, and cash flow.
The standards recognize the following major elements:
In the area of supply chain performance, IFRS provides better insights in the supply chain cost structures than for example GAAP, the US approved standard. Level 2 OpenReference Cost metrics are aligned with IFRS cost reporting.
Compare to: GAAP Asset Efficiency Fixed Asset Turns Supply Chain Costs Cost of Goods Sold Distribution Costs Other Operational Expenses Statement of Comprehensive Income Statement of Financial Position Statement of Cash Flows Statement of Changes in Equity
| ID | Name | Level | x |
|---|---|---|---|
| IFRS | International Financial Reporting Standards | 0 | IFRS |
| IFRS01 | IFRS 1 First-time Adoption | 1 | IFRS01 |
| IFRS02 | IFRS 2 Share-based Payment | 1 | IFRS02 |
| IFRS03 | IFRS 3 Business Combinations | 1 | IFRS03 |
| IFRS04 | IFRS 4 Insurance Contracts | 1 | IFRS04 |
| IFRS05 | IFRS 5 Non-current Assets Held for Sale | 1 | IFRS05 |
| IFRS06 | IFRS 6 Mineral Resources Exploration & Evaluation | 1 | IFRS06 |
| IFRS07 | IFRS 7 Disclosures | 1 | IFRS07 |
| IFRS08 | IFRS 8 Operating Segments | 1 | IFRS08 |
| IFRS09 | IFRS 9 Financial Instruments | 1 | IFRS09 |
| IFRS10 | IFRS 10 Consolidated Financial Statements | 1 | IFRS10 |
| IFRS11 | IFRS 11 Joint Arrangements | 1 | IFRS11 |
| IFRS12 | IFRS 12 Interests in Other Entities | 1 | IFRS12 |
| IFRS13 | IFRS 13 Fair Value Measurement | 1 | IFRS13 |
| IFRS14 | IFRS 14 Regulatory Deferral Accounts | 1 | IFRS14 |
| IFRS15 | IFRS 15 Revenue | 1 | IFRS15 |
| IFRS16 | IFRS 16 Leases | 1 | IFRS16 |
| IFRS17 | IFRS 17 Insurance Contracts | 1 | IFRS17 |
| IAS01 | IAS 1 Presentation of Financial Statements | 1 | IAS01 |
| IAS02 | IAS 2 Inventories | 1 | IAS02 |
| IAS07 | IAS 7 Statement of Cash Flows | 1 | IAS07 |
| IAS08 | IAS 8 Accounting Policies, Changes in Estimates & Errors | 1 | IAS08 |
| IAS10 | IAS 10 Events aft the Reporting Period | 1 | IAS10 |
| IAS11 | IAS 11 Construction Contracts* | 1 | IAS11 |
| IAS12 | IAS 12 Income Taxes | 1 | IAS12 |
| IAS16 | IAS 16 Property, Plant & Equipment | 1 | IAS16 |
| IAS17 | IAS 17 Leases* | 1 | IAS17 |
| IAS18 | IAS 18 Revenue* | 1 | IAS18 |
| IAS19 | IAS 19 Employee Benefits | 1 | IAS19 |
| IAS20 | IAS 20 Accounting for Government Grants & Assistance | 1 | IAS20 |
| IAS21 | IAS 21 Effects of Foreign Exchange Rates | 1 | IAS21 |
| IAS23 | IAS 23 Borrowing Costs | 1 | IAS23 |
| IAS24 | IAS 24 Related Party Disclosures | 1 | IAS24 |
| IAS26 | IAS 26 Retirement Benefit Plans | 1 | IAS26 |
| IAS27 | IAS 27 Separate Financial Statements | 1 | IAS27 |
| IAS28 | IAS 28 Investments in Associates & Joint Ventures | 1 | IAS28 |
| IAS29 | IAS 29 Hyper-inflationary Economies | 1 | IAS29 |
| IAS32 | IAS 32 Presentation | 1 | IAS32 |
| IAS33 | IAS 33 Earnings per Share | 1 | IAS33 |
| IAS34 | IAS 34 Interim Financial Reporting | 1 | IAS34 |
| IAS36 | IAS 36 Impairment of Assets | 1 | IAS36 |
| IAS37 | IAS 37 Provisions, Contingent Liabilities & Contingent Assets | 1 | IAS37 |
| IAS38 | IAS 38 Intangible Assets | 1 | IAS38 |
| IAS39 | IAS 39 Recognition & Measurement* | 1 | IAS39 |
| IAS40 | IAS 40 Investment Property | 1 | IAS40 |
| IAS41 | IAS 41 Agriculture | 1 | IAS41 |