IFRS Taxonomy Updated for IFRS 14 Regulatory Deferral Accounts
The IFRS Foundation today published Interim Release 1 to the IFRS Taxonomy 2014 for the IFRS 14 Regulatory Deferral Account, which was issued by the IASB on 30 January 2014.
The IFRS Taxonomy 2014 is the XBRL representation of the IFRSs, including International Accounting Standards (IASs), Interpretations, and the IFRS for SME's, as issued by the IASB.
XBRL taxonomies are available for most of the major national financial reporting standards around the world, and the IFRS Taxonomy is intended for use by entities reporting in IFRS. By providing the IFRS Taxonomy, the IFRS Foundation seeks to address the demand for an electronic standard to transmit IFRS financial information.
IFRS Taxonomy Interim Releases support consistent adoption and implementation of IFRS, by providing taxonomy items for electronic reporting using the latest Standards published by the IASB.