1.
Removal of all cross references to standards applicable under full IFRS (except IAS 39).
2.
Restructuring of approach to financial instruments.
3.
Removal of requirement for measurement of non-current assets or disposal group held for sale (presentation similar to IFRS 5); disclosures about disposals are still required.
4.
Removal of revaluation option for intangible assets.
5.
Presumption that all intangible assets (including goodwill) have an estimated useful life of 10 years, unless there is evidence to the contrary.
6.
Borrowing costs are recognised as expenses.
7.
Financial performance is reported either as one statement of comprehensive income or as two statements - an income statement and a statement of comprehensive income that starts with profit or loss for the period.
8.
All deferred tax is presented as non-current.
9.
Removal of requirement to disclose externally imposed capital every effort has been made to ensure accuracy, some information that may be relevant to a particular reader may not be comprehensive or may have been omitted.