Every IFRS Accounting Standard currently in force, summarised in a sentence or two — this page exists so you never have to dig through the full IASB text just to remember what a standard covers. Where IFRION has published an in-depth guide on a standard, you'll find a link straight to it.
Reference Guide
IFRS Standards At a Glance
Published 11 July 2026 · 12 min read
Presentation & Disclosure
IFRS 18 — Presentation and Disclosure in Financial Statements
Replaces IAS 1 from 1 January 2027. Introduces mandatory income statement categories (operating, investing, financing), a new operating profit subtotal, and required disclosure of management-defined performance measures. Read our in-depth guide →
IFRS 19 — Subsidiaries without Public Accountability: Disclosures
Allows eligible subsidiaries of a parent that reports under full IFRS to apply reduced disclosure requirements, cutting the reporting burden for group subsidiaries that don't themselves have public accountability. Effective from 1 January 2027, alongside IFRS 18.
IAS 1 — Presentation of Financial Statements
The current standard governing the structure and minimum content of a full set of financial statements, including going concern, materiality, and the classification of assets and liabilities as current or non-current. Superseded by IFRS 18 from 1 January 2027.
IAS 8 — Accounting Policies, Changes in Accounting Estimates and Errors
Sets out how to select and apply accounting policies, and how to account for changes in accounting estimates and the correction of prior-period errors — usually via retrospective restatement.
IAS 10 — Events after the Reporting Period
Distinguishes between adjusting events (requiring the financial statements to be updated) and non-adjusting events (requiring disclosure only) that occur between the reporting date and the date the financial statements are authorised for issue.
IAS 34 — Interim Financial Reporting
Sets the minimum content and recognition and measurement principles for interim financial reports, such as half-year or quarterly statements.
Revenue & Leases
IFRS 15 — Revenue from Contracts with Customers
The five-step model for recognising revenue: identify the contract, identify performance obligations, determine the transaction price, allocate that price, and recognise revenue as each obligation is satisfied. Read our in-depth guide →
IFRS 16 — Leases
Requires lessees to recognise almost all leases on the balance sheet as a right-of-use asset and a corresponding lease liability, discounted at the incremental borrowing rate. Read our in-depth guide →
Assets
IAS 36 — Impairment of Assets
Requires assets to be tested for impairment when there's an indicator of impairment, and goodwill and indefinite-life intangibles to be tested annually regardless. Read our in-depth guide →
IAS 2 — Inventories
Requires inventories to be measured at the lower of cost and net realisable value, and sets out the cost formulas (FIFO or weighted average) permitted for allocating cost to inventory items.
IAS 16 — Property, Plant and Equipment
Governs the recognition, initial measurement, depreciation, and subsequent measurement (cost or revaluation model) of tangible fixed assets used in the business.
IAS 38 — Intangible Assets
Sets the recognition criteria for intangible assets such as software, patents, and licences, and distinguishes research costs (expensed) from development costs (capitalised once specific criteria are met).
IAS 40 — Investment Property
Covers property held to earn rental income or for capital appreciation, offering a choice between the cost model and the fair value model, with changes in fair value taken to profit or loss.
IAS 41 — Agriculture
Requires biological assets to be measured at fair value less costs to sell, with changes recognised in profit or loss as the asset grows, degenerates, or is harvested.
IFRS 5 — Non-current Assets Held for Sale and Discontinued Operations
Sets the criteria for classifying an asset or disposal group as "held for sale," which stops depreciation and requires measurement at the lower of carrying amount and fair value less costs to sell.
IFRS 6 — Exploration for and Evaluation of Mineral Resources
A limited-scope standard permitting entities to continue existing accounting policies for exploration and evaluation expenditure until the IASB completes a fuller review of extractive-industry accounting.
Liabilities & Employee Benefits
IAS 37 — Provisions, Contingent Liabilities and Contingent Assets
Sets the recognition criteria for provisions (a present obligation, probable outflow, reliable estimate) and requires disclosure — rather than recognition — of contingent liabilities and contingent assets.
IAS 19 — Employee Benefits
Covers the accounting for short-term benefits, post-employment benefits (including defined benefit pension schemes), other long-term benefits, and termination benefits.
IAS 12 — Income Taxes
Requires recognition of current and deferred tax, with deferred tax arising from temporary differences between the accounting and tax base of assets and liabilities.
IAS 20 — Accounting for Government Grants and Disclosure of Government Assistance
Requires government grants to be recognised in profit or loss on a systematic basis over the periods in which the related costs they're intended to compensate are recognised.
IAS 26 — Accounting and Reporting by Retirement Benefit Plans
Sets specific reporting requirements for the financial statements of retirement benefit plans themselves, distinct from the employer accounting covered by IAS 19.
Financial Instruments
IFRS 9 — Financial Instruments
Governs the classification, measurement, and impairment (via the expected credit loss model) of financial assets and liabilities, plus the requirements for hedge accounting.
IFRS 7 — Financial Instruments: Disclosures
Requires disclosures that let users evaluate the significance of financial instruments to an entity's financial position and the nature and extent of risks arising from them.
IAS 32 — Financial Instruments: Presentation
Sets the principles for classifying financial instruments as liabilities or equity, and for offsetting financial assets and financial liabilities.
IFRS 13 — Fair Value Measurement
Defines fair value and establishes a single framework for measuring it, including the three-level fair value hierarchy, applicable wherever another standard requires or permits fair value measurement.
Business Combinations & Group Accounting
IFRS 3 — Business Combinations
Requires the acquisition method for business combinations: identifying the acquirer, determining the acquisition date, recognising identifiable assets and liabilities at fair value, and calculating goodwill. Read our in-depth guide →
IFRS 10 — Consolidated Financial Statements
Defines control as the basis for consolidation and sets out the accounting requirements for preparing consolidated financial statements for a group.
IFRS 11 — Joint Arrangements
Classifies joint arrangements as either joint operations (share of assets/liabilities recognised directly) or joint ventures (equity-accounted), based on the parties' rights and obligations.
IFRS 12 — Disclosure of Interests in Other Entities
Requires disclosures about an entity's interests in subsidiaries, joint arrangements, associates, and unconsolidated structured entities, including the risks associated with those interests.
IAS 27 — Separate Financial Statements
Sets the accounting requirements when a parent prepares separate (non-consolidated) financial statements, including the measurement of investments in subsidiaries, joint ventures, and associates.
IAS 28 — Investments in Associates and Joint Ventures
Requires the equity method of accounting for investments where the investor has significant influence over an associate, or joint control over a joint venture.
Other Standards
IFRS 17 — Insurance Contracts
Provides a single, current-value model for measuring insurance contract liabilities, replacing the previous patchwork of national approaches permitted under the withdrawn IFRS 4.
IFRS 8 — Operating Segments
Requires disclosure of financial and descriptive information about an entity's operating segments, based on the information reviewed internally by the chief operating decision maker.
IFRS 2 — Share-based Payment
Requires an expense to be recognised for goods or services received in exchange for share-based payments, such as employee share options, measured at fair value.
IFRS 1 — First-time Adoption of International Financial Reporting Standards
Sets out the procedures a business must follow when it adopts IFRS for the first time, including the mandatory and optional exemptions available in preparing the opening IFRS balance sheet.
IAS 7 — Statement of Cash Flows
Requires a statement of cash flows classifying cash flows into operating, investing, and financing activities, giving users insight into an entity's ability to generate cash.
IAS 21 — The Effects of Changes in Foreign Exchange Rates
Sets out how to translate foreign currency transactions and the financial statements of foreign operations into an entity's functional and presentation currency.
IAS 23 — Borrowing Costs
Requires borrowing costs directly attributable to the acquisition, construction, or production of a qualifying asset to be capitalised as part of the cost of that asset.
IAS 24 — Related Party Disclosures
Requires disclosure of related party relationships, transactions, and outstanding balances, including key management personnel compensation, to help users assess how relationships might affect the financial statements.
IAS 29 — Financial Reporting in Hyperinflationary Economies
Requires the financial statements of an entity operating in a hyperinflationary economy to be restated in terms of the measuring unit current at the end of the reporting period.
IAS 33 — Earnings per Share
Sets out the principles for calculating and presenting basic and diluted earnings per share, required for entities whose ordinary shares are publicly traded.
IFRS 14 — Regulatory Deferral Accounts
A limited, interim standard permitting first-time adopters in rate-regulated industries to continue recognising regulatory deferral account balances under their previous GAAP.
This page is for general informational purposes only and does not constitute professional accounting, financial, or legal advice for your specific circumstances. Standards summarised here are current as of the publication date and may be amended by the IASB — always confirm the latest position at ifrs.org or with a qualified advisor. See our editorial policy and terms of service, or contact us for advice tailored to your situation.
