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Articles
IASB ED/2012/1 Annual Improvements to IFRSs (2010-2012 Cycle)
The ED on Annual Improvements to IFRSs 2010–2012 Cycle is part of IASB’s annual improvements project which provides a streamlined process for dealing efficiently with a collection of narrow-scope amendments to IFRSs. The IASB uses the annual improvements project to make necessary, but non-urgent, amendments to IFRSs that will not be included as part of another major project.
The proposed amendments reflect issues discussed by the IASB in the project cycle that began in 2010. The proposed effective date for the amendments is for annual periods beginning on or after 1 January 2014, while the amendment to IFRS 3 Business Combinations and the proposed consequential amendment to IFRS 9 Financial Instruments are for annual periods beginning on or after 1 January 2015. Early adoption is permitted for all the proposed amendments.
The topics addressed by these amendments are as follows:
|
IFRS |
Subject of amendment |
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IFRS 2 Share-based Payment |
Definition of ‘vesting condition’ |
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IFRS 3 Business Combinations |
Accounting for contingent consideration in a business combination |
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IFRS 8 Operating Segments |
Aggregation of operating segments |
|
Reconciliation of the total of the reportable segments’ assets to the entity’s assets |
|
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IFRS 13 Fair Value Measurement |
Short-term receivables and payables |
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IAS 1 Presentation of Financial Statements |
Current/non-current classification of liabilities |
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IAS 7 Statement of Cash Flows |
Interest paid that is capitalised |
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IAS 12 Income Taxes |
Recognition of deferred tax assets for unrealised losses |
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IAS 16 Property, Plant and Equipment |
Revaluation method—proportionate restatement of accumulated depreciation |
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IAS 24 Related Party Disclosures |
Key management personnel |
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IAS 36 Impairment of Assets |
Harmonisation of disclosures for value in use and fair value less costs of disposal |
To download the IASB Exposure Draft, click here.
We welcome participants from interested parties to review this document and to take this opportunity to express our views to IASB.
We would like to hear from you about this important document via return email to us before 3 August 2012. This is to allow us to submit your comments for Board’s deliberation.
Click here to Comment Online.