10 August 2015
The
International Accounting Standards Board (IASB) today published for
public consultation a proposal to postpone the date when entities must
change some aspects of how they account for transactions between
investors and associates or joint ventures.
The proposed postponement would apply to changes introduced by the IASB in 2014 through narrow-scope amendments to IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures.
Those changes affect how an entity should determine any gain or loss it
recognises when assets are sold or contributed between the entity and
an associate or joint venture in which it invests. The changes do
not affect other aspects of how entities account for their investments
in associates and joint ventures.
The proposed postponement would remove the current requirement to make
these particular changes by 2016. Instead, entities could wait
until after the IASB has carried out a planned broader review that may
result in the simplification of accounting for such transactions and of
other aspects of accounting for associates and joint ventures.
The consultation is open for comment until 9 October 2015.
END
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Kirstina Reitan, Head of Communications, IFRS Foundation
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Email: kreitan@ifrs.org