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  • IFRS in Focus — IASB defers effective date of amendment 'Sale or Contribution of Assets between an Investor and its Associate or Joint Venture'
    Assets between an Investor and its Associate or Joint Venture Published on 18 Dec 2015 This newsletter outlines the amendments to IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures that were issued on 17 December 2015 Download Related Topics Publication series IFRS in Focus Resources IASB finalised pronouncements International Accounting Standards Board IASB Projects Equity method of accounting IAS 28 Elimination of gains arising from downstream transactions Standards Effective dates of IFRSs and amendments IAS 28 Investments in Associates and Joint Ventures 2011 IFRS 10 Consolidated Financial Statements 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 s annual improvements to IFRSs 2014 2016 cycle ED 27 Jan 2016 All Related Related Discussions Research programme 15 Dec 2015 Effective date of amendments to IFRS 10 and IAS 28 Due process 15 Dec 2015 IFRS implementation issues IFRIC update 19 Nov 2015 IFRS 9 IAS 28 Is measurement of long term interests in associates and joint ventures including impairment in accordance

    Original URL path: http://www.iasplus.com/en/publications/global/ifrs-in-focus/2015/ifrs-10-ias-28 (2016-02-10)
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  • EFRAG endorsement status report 17 December 2015
    2015 This endorsement status report update reflects that the IASB has published Effective Date of Amendments to IFRS 10 and IAS 28 deferring the effective date of the September 2014 amendments to these standards indefinitely Download Related Topics Publication series EFRAG endorsement status reports Resources EFRAG IFRS endorsement status reports European Financial Reporting Advisory Group EFRAG IASB finalised pronouncements International Accounting Standards Board IASB Projects Equity method of accounting IAS 28 Elimination of gains arising from downstream transactions Standards IFRS 10 Consolidated Financial Statements Effective dates of IFRSs and amendments IAS 28 Investments in Associates and Joint Ventures 2011 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 EFRAG endorsement status report 3 February 2016 04 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 All Related Related Discussions Research programme 15 Dec 2015 Effective date of amendments to IFRS 10 and IAS 28 Due process 15 Dec 2015 IFRS implementation issues IFRIC update 19 Nov 2015 IFRS 9 IAS 28 Is measurement of long term interests in associates and joint ventures including impairment in accordance with IFRS 9

    Original URL path: http://www.iasplus.com/en/publications/efrag/2015/17-december (2016-02-10)
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  • IFRS in Focus — Closing out 2015
    Search site Toggle navigation Home News Publications Meetings Standards Projects Jurisdictions Resources My IAS Plus Topics Communications Toggle navigation Search site Publication Directory Global publications Newsletters IFRS in Focus Publication series Analysis and opinion Special topics Member firm publications Non English publications Third party publications IFRS e learning Info IFRS in Focus Closing out 2015 Published on 15 Dec 2015 This newsletter sets out financial reporting issues that may be relevant for years ending 31 December 2015 as a result of areas of regulatory focus the current economic environment or changes in accounting standards Download Related Topics Publication series IFRS in Focus Standards Effective dates of IFRSs and amendments Effective dates of Interpretations Related news IASB defers the effective date of September 2014 amendments to IFRS 10 and IAS 28 17 Dec 2015 IASB publishes editorial corrections to reflect deferred September 2014 amendments to IAS 28 and IFRS 10 16 Dec 2015 New and revised pronouncements as at 31 December 2015 11 Dec 2015 A Guide through IFRS 2015 Green Book is now available 22 Sep 2015 New and revised pronouncements as at 30 September 2015 21 Sep 2015 New and revised pronouncements as at 30 June 2015 30 Jun 2015 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 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 IFRS in Focus IASB issues IFRS 16 Leases 13 Jan 2016 IFRS in Focus IASB defers effective date of amendment Sale or Contribution of Assets between an Investor and its Associate or Joint Venture 18 Dec 2015 All

    Original URL path: http://www.iasplus.com/en/publications/global/ifrs-in-focus/2015/closing-out-2015 (2016-02-10)
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  • IFRS compliance, presentation and disclosure checklist 2015
    English Toggle navigation Search site Toggle navigation Home News Publications Meetings Standards Projects Jurisdictions Resources My IAS Plus Topics Communications Toggle navigation Search site Publication Directory Global publications Newsletters Publication series Models and checklists Analysis and opinion Special topics Member firm publications Non English publications Third party publications IFRS e learning Info IFRS compliance presentation and disclosure checklist 2015 Published on 29 Sep 2015 The checklist summarises the recognition measurement presentation and disclosure requirements set out in IFRSs in issue as of 30 April 2015 Download Related Topics Publication series Models and checklists Resources IASB finalised pronouncements Quick links Spanish translation of this checklist 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 IASB issues new leasing standard 13 Jan 2016 IASB announces IFRS 16 release date 06 Jan 2016 2016 IFRS Blue Book now available 21 Dec 2015 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 EFRAG endorsement status report 19 January 2016 20 Jan 2016 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 2017 Effective date of the 2016 amendments to IAS 12 01 Jan 2017 Effective date of IFRS 15 01 Jan 2018 Effective date of IFRS 9 01 Jan 2018 All Related Contact us About

    Original URL path: http://www.iasplus.com/en/publications/global/models-checklists/2015/ifrs-checklist (2016-02-10)
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  • IAS 16
    sofern die Ansatzkriterien künftiger Nutzen und Verlässlichkeit der Bewertung erfüllt sind Der Buchwert jener Teile die ersetzt wurden wird gemäß den Ausbuchungsbestimmungen von IAS 16 67 72 ausgebucht IAS 16 13 Die Fortführung des Betriebs einer Sachanlage bspw eines Flugzeugs kann auch die Durchführung regelmäßiger größerer Wartungen voraussetzen ungeachtet dessen ob Teile ersetzt werden Bei Durchführung jeder größeren Wartung werden deren Kosten im Buchwert der Sachanlage als Ersatz erfasst sofern die Ansatzkriterien erfüllt sind Wenn erforderlich können die geschätzten Kosten einer künftigen ähnlichen Wartung als Hinweis benutzt werden worauf sich die Kosten des jetzigen Wartungsbestandteils zum Zeitpunkt des Erwerbs oder der Herstellung der Sachanlage beliefen IAS 16 14 Erstmalige Bewertung Die Bewertung bei Erfassung erfolgt zu den Anschaffungs oder Herstellungskosten IAS 16 15 Die Anschaffungs oder Herstellungskosten umfassen alle Kosten die anfallen um den Vermögenswert in den beabsichtigten betriebsbereiten Zustand zu bringen Dazu gehört nicht nur der Kaufpreis sondern auch die Kosten der Standortvorbereitung der erstmaligen Lieferung und Verbringung die Installations und Monatgekosten Honorare sowie die geschätzten Kosten für den Abbruch und das Abräumen des Gegenstandes und die Wiederherstellung des Standortes s IAS 37 Rückstellungen Eventualschulden und Eventualforderungen IAS 16 16 17 Wenn die Bezahlung der Sachanlage die üblichen Zahlungsfristen überschreitet sind Marktzinsen zu erfassen oder einzurechnen IAS 16 23 Wird ein Vermögenswert im Tausch gegen einen anderen Vermögenswert gleicher oder anderer Art erworben sind die Anschaffungskosten zum beizulegenden Zeitwert zu bewerten es sei denn a dem Tauschgeschäft fehlt es an wirtschaftlicher Substanz oder b der beizulegende Zeitwert des erhaltenen noch des hingegebenen Vermögenswertes verlässlich schätzbar ist Wenn der erworbene Gegenstand nicht zum beizulegenden Zeitwert bemessen wird werden die Anschaffungskosten zum Buchwert des hingegebenen Vermögenswertes bewertet IAS 16 24 Folgebewertung IAS 16 lässt zwei Bewertungsmethoden zu Anschaffungs oder Herstellungskostenmodell Der Vermögenswert wird zu Anschaffungs oder Herstellungskosten abzüglich kumulierter Abschreibungen und Wertminderungsaufwendungen angesetzt IAS 16 30 Neubewertungsmodell Der Vermögenswert wird zum Neubewertungsbetrag welcher seinem beizulegenden Zeitwert zum Zeitpunkt der Neubewertung abzüglich nachfolgender Abschreibungen entspricht angesetzt vorausgesetzt der beizulegende Zeitwert kann verlässlich bewertet werden IAS 16 31 Neubewertungsmodell Bei Anwendung des Neubewertungsmodells sind Neubewertungen regelmäßig vorzunehmen so dass am Bilanzstichtag der Buchwert des Vermögenswerts nicht wesentlich von seinem beizulegenden Zeitwert abweicht IAS 16 31 Wird eine Sachanlage neubewertet ist die ganze Gruppe der Sachanlagen zu denen dieser Gegenstand gehört neu zu bewerten IAS 16 36 Neubewertete Vermögenswerte sind auf gleiche Weise abzuschreiben wie bei Anwendung des Anschaffungskostenmodells s unten Führt eine Neubewertung zu einer Erhöhung des Buchwertes ist die Wertsteigerung direkt in das Eigenkapital unter die Position Neubewertungsrücklage einzustellen es sei denn die Wertsteigerung macht eine als Aufwand erfasste Abwertung rückgängig In diesem Fall ist sie als Ertrag zu erfassen IAS 16 39 Führt eine Neubewertung zu einer Verringerung des Buchwertes ist die Wertminderung in dem Umfang in dem sie frühere in der Neubewertungsrücklage erfasste Wertsteigerungen desselben Vermögenswerts übersteigt als Aufwand zu erfassen IAS 16 40 Bei Veräußerung des Vermögenswertes kann die Neubewertungsrücklage direkt den Gewinnrücklagen zugeführt werden oder im Eigenkapital unter der Position Neubewertungsrücklage belassen werden Die Zuführung zu den Gewinnrücklagen

    Original URL path: http://www.iasplus.com/de/standards/ias/ias16?set_language=de (2016-02-10)
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  • IAS 16 — Property, Plant and Equipment
    model in IAS 16 also applies to investment property accounted for using the cost model under IAS 40 Investment Property IAS 16 5 The standard does apply to bearer plants but it does not apply to the produce on bearer plants IAS 16 3 Note Bearer plants were brought into the scope of IAS 16 by Agriculture Bearer Plants Amendments to IAS 16 and IAS 41 which applies to annual periods beginning on or after 1 January 2016 Recognition Items of property plant and equipment should be recognised as assets when it is probable that IAS 16 7 it is probable that the future economic benefits associated with the asset will flow to the entity and the cost of the asset can be measured reliably This recognition principle is applied to all property plant and equipment costs at the time they are incurred These costs include costs incurred initially to acquire or construct an item of property plant and equipment and costs incurred subsequently to add to replace part of or service it IAS 16 does not prescribe the unit of measure for recognition what constitutes an item of property plant and equipment IAS 16 9 Note however that if the cost model is used see below each part of an item of property plant and equipment with a cost that is significant in relation to the total cost of the item must be depreciated separately IAS 16 43 IAS 16 recognises that parts of some items of property plant and equipment may require replacement at regular intervals The carrying amount of an item of property plant and equipment will include the cost of replacing the part of such an item when that cost is incurred if the recognition criteria future benefits and measurement reliability are met The carrying amount of those parts that are replaced is derecognised in accordance with the derecognition provisions of IAS 16 67 72 IAS 16 13 Also continued operation of an item of property plant and equipment for example an aircraft may require regular major inspections for faults regardless of whether parts of the item are replaced When each major inspection is performed its cost is recognised in the carrying amount of the item of property plant and equipment as a replacement if the recognition criteria are satisfied If necessary the estimated cost of a future similar inspection may be used as an indication of what the cost of the existing inspection component was when the item was acquired or constructed IAS 16 14 Initial measurement An item of property plant and equipment should initially be recorded at cost IAS 16 15 Cost includes all costs necessary to bring the asset to working condition for its intended use This would include not only its original purchase price but also costs of site preparation delivery and handling installation related professional fees for architects and engineers and the estimated cost of dismantling and removing the asset and restoring the site see IAS 37 Provisions Contingent Liabilities and Contingent Assets IAS 16 16 17 If payment for an item of property plant and equipment is deferred interest at a market rate must be recognised or imputed IAS 16 23 If an asset is acquired in exchange for another asset whether similar or dissimilar in nature the cost will be measured at the fair value unless a the exchange transaction lacks commercial substance or b the fair value of neither the asset received nor the asset given up is reliably measurable If the acquired item is not measured at fair value its cost is measured at the carrying amount of the asset given up IAS 16 24 Measurement subsequent to initial recognition IAS 16 permits two accounting models Cost model The asset is carried at cost less accumulated depreciation and impairment IAS 16 30 Revaluation model The asset is carried at a revalued amount being its fair value at the date of revaluation less subsequent depreciation and impairment provided that fair value can be measured reliably IAS 16 31 The revaluation model Under the revaluation model revaluations should be carried out regularly so that the carrying amount of an asset does not differ materially from its fair value at the balance sheet date IAS 16 31 If an item is revalued the entire class of assets to which that asset belongs should be revalued IAS 16 36 Revalued assets are depreciated in the same way as under the cost model see below If a revaluation results in an increase in value it should be credited to other comprehensive income and accumulated in equity under the heading revaluation surplus unless it represents the reversal of a revaluation decrease of the same asset previously recognised as an expense in which case it should be recognised in profit or loss IAS 16 39 A decrease arising as a result of a revaluation should be recognised as an expense to the extent that it exceeds any amount previously credited to the revaluation surplus relating to the same asset IAS 16 40 When a revalued asset is disposed of any revaluation surplus may be transferred directly to retained earnings or it may be left in equity under the heading revaluation surplus The transfer to retained earnings should not be made through profit or loss IAS 16 41 Depreciation cost and revaluation models For all depreciable assets The depreciable amount cost less residual value should be allocated on a systematic basis over the asset s useful life IAS 16 50 The residual value and the useful life of an asset should be reviewed at least at each financial year end and if expectations differ from previous estimates any change is accounted for prospectively as a change in estimate under IAS 8 IAS 16 51 The depreciation method used should reflect the pattern in which the asset s economic benefits are consumed by the entity IAS 16 60 a depreciation method that is based on revenue that is generated by an activity that includes the

    Original URL path: http://www.iasplus.com/en-gb/standards/ias/ias16?set_language=en-gb (2016-02-10)
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  • IAS 16 — Property, Plant and Equipment
    property plant and equipment used to develop or maintain the last three categories of assets IAS 16 3 The cost model in IAS 16 also applies to investment property accounted for using the cost model under IAS 40 Investment Property IAS 16 5 The standard does apply to bearer plants but it does not apply to the produce on bearer plants IAS 16 3 Note Bearer plants were brought into the scope of IAS 16 by Agriculture Bearer Plants Amendments to IAS 16 and IAS 41 which applies to annual periods beginning on or after 1 January 2016 Recognition Items of property plant and equipment should be recognised as assets when it is probable that IAS 16 7 it is probable that the future economic benefits associated with the asset will flow to the entity and the cost of the asset can be measured reliably This recognition principle is applied to all property plant and equipment costs at the time they are incurred These costs include costs incurred initially to acquire or construct an item of property plant and equipment and costs incurred subsequently to add to replace part of or service it IAS 16 does not prescribe the unit of measure for recognition what constitutes an item of property plant and equipment IAS 16 9 Note however that if the cost model is used see below each part of an item of property plant and equipment with a cost that is significant in relation to the total cost of the item must be depreciated separately IAS 16 43 IAS 16 recognises that parts of some items of property plant and equipment may require replacement at regular intervals The carrying amount of an item of property plant and equipment will include the cost of replacing the part of such an item when that cost is incurred if the recognition criteria future benefits and measurement reliability are met The carrying amount of those parts that are replaced is derecognised in accordance with the derecognition provisions of IAS 16 67 72 IAS 16 13 Also continued operation of an item of property plant and equipment for example an aircraft may require regular major inspections for faults regardless of whether parts of the item are replaced When each major inspection is performed its cost is recognised in the carrying amount of the item of property plant and equipment as a replacement if the recognition criteria are satisfied If necessary the estimated cost of a future similar inspection may be used as an indication of what the cost of the existing inspection component was when the item was acquired or constructed IAS 16 14 Initial measurement An item of property plant and equipment should initially be recorded at cost IAS 16 15 Cost includes all costs necessary to bring the asset to working condition for its intended use This would include not only its original purchase price but also costs of site preparation delivery and handling installation related professional fees for architects and engineers and the estimated cost of dismantling and removing the asset and restoring the site see IAS 37 Provisions Contingent Liabilities and Contingent Assets IAS 16 16 17 If payment for an item of property plant and equipment is deferred interest at a market rate must be recognised or imputed IAS 16 23 If an asset is acquired in exchange for another asset whether similar or dissimilar in nature the cost will be measured at the fair value unless a the exchange transaction lacks commercial substance or b the fair value of neither the asset received nor the asset given up is reliably measurable If the acquired item is not measured at fair value its cost is measured at the carrying amount of the asset given up IAS 16 24 Measurement subsequent to initial recognition IAS 16 permits two accounting models Cost model The asset is carried at cost less accumulated depreciation and impairment IAS 16 30 Revaluation model The asset is carried at a revalued amount being its fair value at the date of revaluation less subsequent depreciation and impairment provided that fair value can be measured reliably IAS 16 31 The revaluation model Under the revaluation model revaluations should be carried out regularly so that the carrying amount of an asset does not differ materially from its fair value at the balance sheet date IAS 16 31 If an item is revalued the entire class of assets to which that asset belongs should be revalued IAS 16 36 Revalued assets are depreciated in the same way as under the cost model see below If a revaluation results in an increase in value it should be credited to other comprehensive income and accumulated in equity under the heading revaluation surplus unless it represents the reversal of a revaluation decrease of the same asset previously recognised as an expense in which case it should be recognised in profit or loss IAS 16 39 A decrease arising as a result of a revaluation should be recognised as an expense to the extent that it exceeds any amount previously credited to the revaluation surplus relating to the same asset IAS 16 40 When a revalued asset is disposed of any revaluation surplus may be transferred directly to retained earnings or it may be left in equity under the heading revaluation surplus The transfer to retained earnings should not be made through profit or loss IAS 16 41 Depreciation cost and revaluation models For all depreciable assets The depreciable amount cost less residual value should be allocated on a systematic basis over the asset s useful life IAS 16 50 The residual value and the useful life of an asset should be reviewed at least at each financial year end and if expectations differ from previous estimates any change is accounted for prospectively as a change in estimate under IAS 8 IAS 16 51 The depreciation method used should reflect the pattern in which the asset s economic benefits are consumed by the entity

    Original URL path: http://www.iasplus.com/en-us/standards/international/ias/ias16?set_language=en-us (2016-02-10)
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  • European Union formally adopts amendments to IAS 16 and IAS 38
    a Commission Regulation endorsing the May 2014 amendments to IAS 16 and IAS 38 that provide additional guidance on how the depreciation or amortisation of property plant and equipment and intangible assets should be calculated Commission Regulation EC No 2015 2231 of 2 December 2015 amending Regulation EC No 1126 2008 adopting certain international accounting standards in accordance with Regulation EC No 1606 2002 of the European Parliament and of the Council published in the Official Journal on 3 December 2015 adopts Clarification of Acceptable Methods of Depreciation and Amortisation Amendments to IAS 16 and IAS 38 issued by the IASB in May 2014 The EU effective date is the same as the IASB s effective date annual periods beginning on or after 1 January 2016 with earlier appication permitted EFRAG has updated its endorsement status report to reflect that the European Union has adopted these amenments Related Topics Resources Adoption of IFRS by country European Commission IFRSs in Europe Events of 2015 Standards IAS 38 Intangible Assets IAS 16 Property Plant and Equipment Related news FEE briefing paper on the endorsement of IFRS 9 08 Feb 2016 EU endorsement of IFRS 9 now expected in the second half of 2016 04 Feb 2016 We comment on a number of tentative agenda decisions of the IFRS Interpretations Committee 19 Jan 2016 Roadmap drawn up for IFRS convergence of Indian banks and insurers 19 Jan 2016 European consultation on non financial reporting guidelines 15 Jan 2016 India sets up transition facilitation group 12 Jan 2016 All Related Related Publications Deloitte comment letter on tentative agenda decision on IAS 16 and IAS 38 Variable payments for an asset 19 Jan 2016 EFRAG endorsement status report 16 December 2015 16 Dec 2015 EFRAG endorsement status report 3 December 2015 03 Dec 2015 EFRAG

    Original URL path: http://www.iasplus.com/en/news/2015/12/eu-ias-16-ias-38 (2016-02-10)
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