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  • IFRS in Focus — IASB publishes amendments to IFRS 10 and IAS 28 (2011) dealing with the sale or contribution of assets between an investor and its joint venture or associate
    amendments to IAS 28 Investments in Associates and Joint Ventures and IFRS 10 Consolidated Financial Statements clarifying that in a transaction involving an associate or joint venture the extent of gain or loss recognition depends on whether the assets sold or contributed constitute a business Download Related Topics Publication series IFRS in Focus Resources IASB finalised pronouncements Projects IFRS 10 IAS 28 Sales or contributions of assets between an investor and its associate joint venture Standards IAS 28 Investments in Associates and Joint Ventures 2011 IFRS 10 Consolidated Financial Statements Quick links Chinese translation of this publication from Deloitte China French translation of this publication Japanese translation of this publication Spanish translation of this publication Related news 2016 IFRS Red Book coming in March 09 Feb 2016 IASB finalises amendments to IAS 7 under its disclosure initiative 29 Jan 2016 We comment on the IASB s annual improvements to IFRSs 2014 2016 cycle ED 27 Jan 2016 IASB finalises amendments regarding the recognition of deferred tax assets for unrealised losses 19 Jan 2016 IASB issues new leasing standard 13 Jan 2016 IASB announces IFRS 16 release date 06 Jan 2016 All Related Related Publications IFRS in Focus IASB issues amendments to IAS 7 Statement of Cash Flows requiring disclosure of changes in liabilities arising from financing activities 01 Feb 2016 EFRAG endorsement status report 29 January 2016 01 Feb 2016 Deloitte comment letter on the IASB s annual improvements to IFRSs 2014 2016 cycle ED 27 Jan 2016 IFRS industry insights Telecommunications sector Implications of the new leasing standard 21 Jan 2016 All Related Related Discussions IFRS 9 IAS 28 Is measurement of long term interests in associates and joint ventures including impairment in accordance with IFRS 9 IAS 28 or both 10 Nov 2015 Fair value measurement 23 Jul

    Original URL path: http://www.iasplus.com/en/publications/global/ifrs-in-focus/2014/ifrs-10-ias-28 (2016-02-10)
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  • IASB defers the effective date of September 2014 amendments to IFRS 10 and IAS 28
    September 2014 the IASB issued Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Amendments to IFRS 10 and IAS 28 as result of the work on one of the issues in relation to the transfers of assets between an investor and its associates or joint ventures the IASB was considering Among the issues that were also considered at that time was the elimination of gains or losses arising from transactions between an entity and its associate or joint venture where an exposure draft ED had been announced for November 2014 but was never published A second attempt at progressing with the issues in the November ED was undertaken in February 2015 now combined with addressing an identified conflict of the September 2014 amendments with IAS 28 However in June 2015 the IASB decided that it wants to deal with the issues in the February ED more comprehensively as part of its research project on the equity method of accounting To avoid that entities would need to change the way in which they apply IAS 28 twice in a short period of time the IASB decided to defer the effective date of the September 2014 amendments until it has finalised amendments if any that result from the research project on the equity method Changes The amendments in Effective Date of Amendments to IFRS 10 and IAS 28 defer the effective date of the September 2014 amendments to these standards indefinitely until the research project on the equity method has been concluded Earlier application of the September 2014 amendments continues to be permitted Additional information Please click for IASB press release link to IASB website Access to the amendment on the IASB website IFRS in Focus newsletter explaining the amendments Our IAS Plus project page on the equity method of accounting Updated EFRAG IFRS endorsement status report Related Topics Resources IASB finalised pronouncements International Accounting Standards Board IASB Projects Equity method of accounting IAS 28 Elimination of gains arising from downstream transactions Standards IAS 28 Investments in Associates and Joint Ventures 2011 IFRS 10 Consolidated Financial Statements Effective dates of IFRSs and amendments Related news Pre meeting summaries for the February IASB meeting 09 Feb 2016 2016 IFRS Red Book coming in March 09 Feb 2016 Reactions to the proposed amendments intended to address concerns about the different effective dates of IFRS 9 and the forthcoming new insurance contracts standard 08 Feb 2016 We comment on the IASB s proposed amendments to IFRS 4 08 Feb 2016 FEE briefing paper on the endorsement of IFRS 9 08 Feb 2016 February 2016 IASB meeting agenda posted 05 Feb 2016 All Related Related Publications Deloitte comment letter on proposed amendments to IFRS 4 08 Feb 2016 IFRS in Focus IASB issues amendments to IAS 7 Statement of Cash Flows requiring disclosure of changes in liabilities arising from financing activities 01 Feb 2016 EFRAG endorsement status report 29 January 2016 01 Feb 2016 Deloitte comment letter on the IASB

    Original URL path: http://www.iasplus.com/en/news/2015/12/ifrs-10-ias-28 (2016-02-10)
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  • IASB concludes the 2012-2014 Annual Improvements cycle
    IFRS 1 Servicing contracts Adds additional guidance to clarify whether a servicing contract is continuing involvement in a transferred asset for the purpose of determining the disclosures required Applicability of the amendments to IFRS 7 to condensed interim financial statements Clarifies the applicability of the amendments to IFRS 7 on offsetting disclosures to condensed interim financial statements IAS 19 Employee Benefits Discount rate regional market issue Clarifies that the high quality corporate bonds used in estimating the discount rate for post employment benefits should be denominated in the same currency as the benefits to be paid thus the depth of the market for high quality corporate bonds should be assessed at currency level IAS 34 Interim Financial Reporting Disclosure of information elsewhere in the interim financial report Clarifies the meaning of elsewhere in the interim report and requires a cross reference The amendments are effective for annual periods beginning on or after 1 January 2016 but can be applied earlier For more information please see the press release on the IASB s website or our Annual improvements page Deloitte s IFRS Global Office has prepared an IFRS in Focus Newsletter explaining the amendments Related Topics Resources IASB finalised pronouncements Projects Annual improvements 2012 2014 cycle Standards IAS 34 Interim Financial Reporting IFRS 5 Non current Assets Held for Sale and Discontinued Operations IFRS 7 Financial Instruments Disclosures IAS 19 Employee Benefits 2011 Related news 2016 IFRS Red Book coming in March 09 Feb 2016 IASB finalises amendments to IAS 7 under its disclosure initiative 29 Jan 2016 IASB finalises amendments regarding the recognition of deferred tax assets for unrealised losses 19 Jan 2016 IPSASB publishes proposed changes to IPSAS 25 Employee Benefits 14 Jan 2016 IASB issues new leasing standard 13 Jan 2016 IASB announces IFRS 16 release date 06

    Original URL path: http://www.iasplus.com/en/news/2014/09/aip (2016-02-10)
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  • IFRS in Focus — IASB issues Annual Improvements to IFRSs: 2012-2014 Cycle
    the recent amendments to IFRS 5 Non current Assets Held for Sale and Discontinued Operations IFRS 7 Financial Instruments Disclosures IAS 19 Employee Benefits and IAS 34 Interim Financial Reporting that result from the annual improvement cycle 2012 2014 Download Related Topics Publication series IFRS in Focus Resources IASB finalised pronouncements Projects Annual improvements 2012 2014 cycle Standards IAS 19 Employee Benefits 2011 IAS 34 Interim Financial Reporting IFRS 5 Non current Assets Held for Sale and Discontinued Operations IFRS 7 Financial Instruments Disclosures Quick links Japanese translation of this publication Chinese translation of this publication from Deloitte China French translation of this publication Spanish translation of this publication Related news 2016 IFRS Red Book coming in March 09 Feb 2016 IASB finalises amendments to IAS 7 under its disclosure initiative 29 Jan 2016 IASB finalises amendments regarding the recognition of deferred tax assets for unrealised losses 19 Jan 2016 IPSASB publishes proposed changes to IPSAS 25 Employee Benefits 14 Jan 2016 IASB issues new leasing standard 13 Jan 2016 IASB announces IFRS 16 release date 06 Jan 2016 All Related Related Publications IFRS in Focus IASB issues amendments to IAS 7 Statement of Cash Flows requiring disclosure of changes in liabilities arising from financing activities 01 Feb 2016 EFRAG endorsement status report 29 January 2016 01 Feb 2016 IFRS industry insights Telecommunications sector Implications of the new leasing standard 21 Jan 2016 IFRS in Focus IASB issues amendments to IAS 12 to clarify the recognition of deferred tax assets for unrealised losses related to debt instruments measured at fair value 20 Jan 2016 All Related Related Discussions IFRS 5 Non current assets held for sale and discontinued operations 12 Jan 2016 IFRS 5 Non current assets held for sale and discontinued operations 08 Sep 2015 IFRS implementation issues 22

    Original URL path: http://www.iasplus.com/en/publications/global/ifrs-in-focus/2014/aip-2012-2014-cycle (2016-02-10)
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  • IASB finalises amendments to IAS 1 under the Disclosure initiative
    to IAS 1 makes the following changes Materiality The amendments clarify that 1 information should not be obscured by aggregating or by providing immaterial information 2 materiality considerations apply to the all parts of the financial statements and 3 even when a standard requires a specific disclosure materiality considerations do apply Statement of financial position and statement of profit or loss and other comprehensive income The amendments 1 introduce a clarification that the list of line items to be presented in these statements can be disaggregated and aggregated as relevant and additional guidance on subtotals in these statements and 2 clarify that an entity s share of OCI of equity accounted associates and joint ventures should be presented in aggregate as single line items based on whether or not it will subsequently be reclassified to profit or loss Notes The amendments add additional examples of possible ways of ordering the notes to clarify that understandability and comparability should be considered when determining the order of the notes and to demonstrate that the notes need not be presented in the order so far listed in paragraph 114 of IAS 1 The IASB also removed guidance and examples with regard to the identification of significant accounting policies that were perceived as being potentially unhelpful Changes from the proposals in the Exposure draft ED 2014 1 Disclosure Initiative Proposed amendments to IAS 1 had included a proposal that an entity should not aggregate or disaggregate information in a manner that obscures useful information As disaggregation often means expanding totals and subtotals and thus providing added transparency the IASB decided to rephrase the clarification to say that an entity shall not reduce the understandability of its financial statements by obscuring material information with immaterial information ED 2014 1 had also proposed to use the term disclose to mean information in the notes and the term present otherwise As respondents to the ED noted that a change in terminology should be part of a comprehensive review of IAS 1 and would be outside the scope of a narrow scope amendment the IASB did not finalise the proposals regarding use of the terms present and disclose Finally the ED had proposed that an entity should disclose the fact that it applies the amendments when it does so for the first time The transition provisions now state that an entity need not disclose the fact that it has applied these amendments regardless of early application or application on the effective date as the IASB considers the amendments to be clarifying and not directly affecting an entity s accounting policies or accounting estimates Effective date and transition requirements The amendments are effective for annual periods beginning on or after 1 January 2016 Earlier application is permitted Application of the amendments need not be disclosed Additional information Please click for IASB press release link to IASB website Deloitte s IFRS in Focus newsletter explaining the amendments Our IAS Plus project page on IAS 1 Disclosure initiative Information on proposed

    Original URL path: http://www.iasplus.com/en/news/2014/12/di-ias-1 (2016-02-10)
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  • IFRS in Focus — IASB issues amendments to IAS 1 under the Disclosure Initiative
    Analysis and opinion Special topics Member firm publications Non English publications Third party publications IFRS e learning Info IFRS in Focus IASB issues amendments to IAS 1 under the Disclosure Initiative Published on 18 Dec 2014 This newsletter outlines the recent narrow scope amendments to IAS 1 Presentation of Financial Statements under the Disclosure Initiative Download Related Topics Publication series IFRS in Focus Resources IASB finalised pronouncements Projects Disclosure initiative IAS 1 amendments Standards IAS 1 Presentation of Financial Statements Quick links Spanish translation of this publication French translation of this publication Related news 2016 IFRS Red Book coming in March 09 Feb 2016 IASB finalises amendments to IAS 7 under its disclosure initiative 29 Jan 2016 We comment on two IFRIC draft Interpretations 19 Jan 2016 IASB finalises amendments regarding the recognition of deferred tax assets for unrealised losses 19 Jan 2016 IASB issues new leasing standard 13 Jan 2016 IASB announces IFRS 16 release date 06 Jan 2016 All Related Related Publications IFRS in Focus IASB issues amendments to IAS 7 Statement of Cash Flows requiring disclosure of changes in liabilities arising from financing activities 01 Feb 2016 EFRAG endorsement status report 29 January 2016 01 Feb 2016 IFRS industry insights Telecommunications sector Implications of the new leasing standard 21 Jan 2016 IFRS in Focus IASB issues amendments to IAS 12 to clarify the recognition of deferred tax assets for unrealised losses related to debt instruments measured at fair value 20 Jan 2016 All Related Related Discussions Disclosure initative 16 Dec 2014 Disclosure Initiative 20 Nov 2014 Disclosure initiative 24 Oct 2014 Disclosure initiative 22 Oct 2014 All Related Related Dates Effective date of the 2016 disclosure initiative amendments to IAS 7 01 Jan 2017 Effective date of the 2015 amendments to the IFRS for SMEs 01 Jan

    Original URL path: http://www.iasplus.com/en/publications/global/ifrs-in-focus/2014/ias-1-amendments (2016-02-10)
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  • IASB finalises amendments regarding the application of the investment entities exception
    requested by 15 September 2014 Amendments Investment Entities Applying the Consolidation Exception Amendments to IFRS 10 IFRS 12 and IAS 28 makes changes aimed at clarifying the following aspects Exemption from preparing consolidated financial statements The amendments confirm that the exemption from preparing consolidated financial statements for an intermediate parent entity is available to a parent entity that is a subsidiary of an investment entity even if the investment entity measures all of its subsidiaries at fair value A subsidiary providing services that relate to the parent s investment activities A subsidiary that provides services related to the parent s investment activities should not be consolidated if the subsidiary itself is an investment entity Application of the equity method by a non investment entity investor to an investment entity investee When applying the equity method to an associate or a joint venture a non investment entity investor in an investment entity may retain the fair value measurement applied by the associate or joint venture to its interests in subsidiaries Disclosures required An investment entity measuring all of its subsidiaries at fair value provides the disclosures relating to investment entities required by IFRS 12 Changes from the proposals in the Exposure draft ED 2014 2 Investment Entities Applying the Consolidation Exception Proposed amendments to IFRS 10 and IAS 28 proposed to provide relief to non investment entity investors for their interests in investment entity associates but not for their interests in investment entity joint ventures To retain consistency in treatment in applying the equity method to both associates and joint ventures the final amendments provide relief to non investment entity investors in both investment entity associates and joint ventures The IASB has added amendments to IFRS 12 Disclosure of Interests in Other Entities as the comments received in response to the ED highlighted a lack of clarity of the applicability of IFRS 12 to the financial statements of an investment entity The additional amendments clarify that the scope exclusion in paragraph 6 b of IFRS 12 does not apply to the financial statements of a parent that is an investment entity and measures all of its subsidiaries at fair value Effective date and transition requirements The amendments are effective for annual periods beginning on or after 1 January 2016 and must be applied retrospectively Earlier application is permitted Additional information Please click for IASB press release link to IASB website Deloitte s IFRS in Focus newsletter explaining the amendments Our IAS Plus project page on IFRS 10 IAS 28 Investment entity amendments Related Topics Resources IASB finalised pronouncements Projects IFRS 10 IAS 28 Investment entity amendments Standards IAS 28 Investments in Associates and Joint Ventures 2011 IFRS 10 Consolidated Financial Statements IFRS 12 Disclosure of Interests in Other Entities Related news 2016 IFRS Red Book coming in March 09 Feb 2016 IASB finalises amendments to IAS 7 under its disclosure initiative 29 Jan 2016 We comment on the IASB s annual improvements to IFRSs 2014 2016 cycle ED 27 Jan 2016

    Original URL path: http://www.iasplus.com/en/news/2014/12/investment-entities (2016-02-10)
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  • IFRS in Focus — IASB issues amendments to IFRS 10, IFRS 12 and IAS 28 related to the application of the investment entities exceptions
    the application of the investment entities exceptions Published on 18 Dec 2014 This newsletter outlines the recent narrow scope amendments to IFRS 10 IFRS 12 and IAS 28 clarifying the application of the investment entities exception Download Related Topics Publication series IFRS in Focus Resources IASB finalised pronouncements Projects IFRS 10 IAS 28 Investment entity amendments Standards IAS 28 Investments in Associates and Joint Ventures 2011 IFRS 10 Consolidated Financial Statements IFRS 12 Disclosure of Interests in Other Entities Quick links Spanish translation of this publication French translation of this publication Related news 2016 IFRS Red Book coming in March 09 Feb 2016 IASB finalises amendments to IAS 7 under its disclosure initiative 29 Jan 2016 We comment on the IASB s annual improvements to IFRSs 2014 2016 cycle ED 27 Jan 2016 IASB finalises amendments regarding the recognition of deferred tax assets for unrealised losses 19 Jan 2016 IASB issues new leasing standard 13 Jan 2016 IASB announces IFRS 16 release date 06 Jan 2016 All Related Related Publications IFRS in Focus IASB issues amendments to IAS 7 Statement of Cash Flows requiring disclosure of changes in liabilities arising from financing activities 01 Feb 2016 EFRAG endorsement status report 29 January 2016 01 Feb 2016 Deloitte comment letter on the IASB s annual improvements to IFRSs 2014 2016 cycle ED 27 Jan 2016 IFRS industry insights Telecommunications sector Implications of the new leasing standard 21 Jan 2016 All Related Related Discussions IFRS 9 IAS 28 Is measurement of long term interests in associates and joint ventures including impairment in accordance with IFRS 9 IAS 28 or both 10 Nov 2015 Fair value measurement 23 Jul 2015 IFRS implementation issues 22 Jul 2015 IFRS 10 Single asset single lessee lease vehicles and the assessment of control under IFRS 10 12

    Original URL path: http://www.iasplus.com/en/publications/global/ifrs-in-focus/2014/investment-entities-1 (2016-02-10)
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