All business listed in the Alternative Investment Market (AIM) and/or regulated by London Stock Exchange (FTSE) are required to prepare its financial statements in accordance with International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS). This requirement is to facilitate comparability of the UK companies financial statements with other international companies financial statements to assist global investors in evaluating investments opportunities.
International Accounting Standards (IAS) consist of:
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 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 41Agriculture
