BAS and BFRS

Adoptation Status of International Accounting Standards (IASs) by ICAB as Bangladesh Accounting Standards (BFRS) as on 1 January 2013.
 
BAS No.
BAS Title

BAS Effective Date

Remarks
1 Presentation of Financial Statements on or after 1 Jan 2010  
2 Inventories on or after 1 January 2007  
7 Statement of Cash Flows on or after 1 January 1999  
8 Accounting Policies, Changes in Accounting Estimates and Errors on or after 1 January 2007  
10 Events after the Reporting
Period
on or after 1 January 1999  
11 Construction Contracts on or after 1 January 1999  
12 Income Taxes on or after 1 January 1999  
16 Property, Plant & Equipment on or after 1 January 2007  
17 Leases on or after 1 January 2007  
18 Revenue on or after 1 January 2007  
19 Employee Benefits on or after 1 January 2013  
20 Accounting of Government Grants and Disclosure of Government Assistance on or after 1 January 1999  
21 The Effects of Changes in Foreign Exchange Rates on or after 1 January 2007  
23 Borrowing Costs on or after 1 January 2010  
24 Related Party Disclosures on or after 1 January 2007  
26 Accounting and Reporting by Retirement Benefit Plans on or after 1 January 2007  
27 Separate Financial Statemens on or after 1 January 2013  
28 Investments in Associates and Joint Ventures on or after 1 January 2013  
IAS 29 Financial Reporting in Hyperinflationary Economics on or after 1 January 2015  
31 Interest in Joint Ventures on or after 1 January 2007  
32 Financial Instruments: Presentation on or after 1 January 2010  
33 Earnings per Share on or after 1 January 2007  
34 Interim Financial Reporting on or after 1 January 1999  
36 Impairment of Assets on or after 1st January 2005  
37 Provisions, Contingent Liabilities and Contingent Assets on or after 1 January 2007  
38 Intangible Assets on or after 1 January 2005  
39 Financial Instruments: Recognition and Measurement on or after 1 January 2010  
40 Investment Property on or after 1 January 2007  
41 Agriculture on or after 1 January 2007  

Adoptation Status of International Financial Reporting Standards (IFRS) by ICAB as Bangladesh Financial Reporting Standards (BFRS) as on 1 January 2013.

IFRS / BFRS

Title

Effective Date on or after

BFRS 1 First-time adoption of International financial Reporting Standards 1 January 2009
BFRS 2 Share-based Payment 1 January 2007
BFRS 3 Business Combinations 1 January 2010
BFRS 4 Insurance Contracts 1 January 2010
BFRS 5 Non-current Assets Held for Sale and Discontinued Operations 1 January 2007
BFRS 6 Exploration for and Evaluation of Mineral Resources 1 January 2007
BFRS 7 Financial Instruments: Disclosures 1 January 2010
BFRS 8 Operating Segments 1 January 2010

IFRS 9

Financial Instruments NA (Not yet adopted but under review process)
BFRS 10 Consolidated Financial Statements 1 January 2013
BFRS 11 Joint Arrangements 1 January 2013
BFRS 12 Disclosure of Interests in other Entities 1 January 2013
BFRS 13 Fair Value Measurement 1 January 2013

N.B: All of these BFRSs are updated based on IFRSs 2012.