The IASB has clarified that the use of revenue-based methods to calculate the depreciation of an asset is not appropriate because revenue generated by an activity that includes the use of an asset generally reflects factors other than the consumption of the economic benefits embodied in the asset.
The Trustees of the IFRS Foundation are seeking applications for membership of the IFRS Advisory Council, after the terms of a number of its members expire at the end of 2014. The primary objective of the Advisory Council is to provide a forum where the IASB and the Trustees consults individuals and representatives of organizations that are affected by its work and are committed to the development of high quality International Financial Reporting Standards (IFRSs).
The International Accounting Standards Board (IASB), the independent standard-setting body of the IFRS Foundation, has launched its web-based IFRS Research Center.
The IFRS Foundation has published the IFRS Taxonomy 2014. The IFRS Taxonomy is a translation of International Financial Reporting Standards (IFRS) into eXtensible Business Reporting Language (XBRL).