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  • IAS 27 — Non-cash distributions
    net asset changes when applying the equity method of accounting IFRS 1 IAS 27 Cost of a subsidiary in separate financial statements IFRS 10 Transitional requirements IFRS 11 Acquisition of an interest in a joint operation Joint arrangements SIC 12 Scope exemption for equity compensation benefits IAS 27 Equity method in separate financial statements IFRS 10 IAS 28 Sales or contributions of assets between an investor and its associate joint venture IFRS 10 IAS 28 Investment entity amendments IAS 28 Elimination of gains arising from downstream transactions Info IAS 27 Non cash distributions Background This International Financial Reporting Interpretations Committee IFRIC project considered how an entity should account for a non cash distribution to owners i e unconditional non reciprocal transfers of assets by an entity to its equity holders acting in their capacity as equity holders sometimes referred to as dividends in kind in kind distributions or in specie distributions Current status of the project This project has been completed IFRIC 17 Distributions of Non cash Assets to Owners was issued on 27 November 2008 Project milestones Date Development Comments 17 January 2008 Draft Interpretation D23 Distributions of Non cash Assets to Owners published Comment deadline 25 April 2008 27 November 2008 IFRIC 17 Distributions of Non cash Assets to Owners issued Effective for annual periods beginning on or after 1 July 2009 Related Discussions IFRIC D23 Distributions of Non cash Assets to Owners 04 Sep 2008 In relation to IFRIC D23 IFRIC discussed 1 drafting changes decided at the July IFRIC meeting 2 the issue of the accounting mismatch 3 a staff proposal regarding minor issues 4 re exposure IFRIC D23 First redeliberations 10 Jul 2008 The purpose of this session was to present to the IFRIC a comment letter analysis along with recommendation of the staff on how to proceed with IFRIC D23 Distributions of Non cash Assets to Owners IAS 27 Accounting for distributions of non cash assets to owners 01 Nov 2007 The IFRIC continued its deliberations of a proposed Draft Interpretation on the accounting treatment of non cash distributions to owners IAS 27 Accounting for non cash distributions 06 Sep 2007 The IFRIC continued its discussion of the accounting for non cash distributions discussing measurement of the distribution and dividend payable liability accounting for differences between the dividend payable and carrying amount of the distributed assets exceptions to the measurement principle and whether IFRS 5 should be applied to the assets to be distributed IAS 27 De mergers and other non cash distributions 12 Jul 2007 IFRIC made a number of decisions on the scope of this project and discussed possible alternative treatments for distributed assets IAS 27 Demergers and other in specie distributions 03 May 2007 The IFRIC began an assessment against its agenda criteria of a potential agenda item on how to account for non cash in specie distributions to owners In doing so it agreed that the issue is widespread and that there is known diversity in practice All Related Quick

    Original URL path: http://www.iasplus.com/en/projects/completed/consol/non-cash-distributions (2016-02-10)
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  • IAS 28 — Elimination of gains arising from 'downstream' transactions
    s investment in the joint venture or the remaining gain in excess of the carrying amount of the entity s investment in the joint venture should also be eliminated and if so what it should be eliminated against The Committee had noted that the issue applied to an entity s downstream transactions with both associates and joint ventures The Committee recommended that a gain from a downstream transaction should be eliminated to the extent of the related investors interest in the associate or joint venture even if the gain to be eliminated exceeds the carrying amount of the entity s investment in the associate or joint venture in which case any excess of the carrying amount of the entity s investment in the entity would be presented as a deferred gain The Committee recommended that the IASB should amend IAS 28 through a narrow scope project to clarify that the eliminated gain that exceeds the carrying amount of the entity s investment in the associate or joint venture should be presented as a deferred gain The IASB tentatively agreed with the Committee s recommendation and added this project to its agenda at the July 2013 meeting Current status of the project This project will not be finalised Instead the IASB issued amendments deferring the effective date of the September 2014 amendments to IAS 28 IFRS 10 and IFRS 12 on 17 December 2015 Project milestones Date Development Comments July 2013 Project tentatively added to the IASB s agenda 10 August 2015 ED 2015 7 Effective Date of Amendments to IFRS 10 and IAS 28 published Comment letter deadline 9 October 2015 17 December 2015 Effective Date of Amendments to IFRS 10 and IAS 28 published defers the effective date of the September 2014 amendments to these standards indefinitely Related Discussions Effective date of amendments to IFRS 10 and IAS 28 Due process 15 Dec 2015 In this session the staff sought permission to publish the final amendment resulting from the exposure draft which defers the effective date of the September 2014 amendment for an indefinite period IFRS implementation issues IFRIC update 19 Nov 2015 The regular update summary paper on the most recent IFRS Interpretations Committee meeting was discussed with the board Major topics included IFRS 2 and classification and measurement of share based payment transactions and the deferral of the effective date of the September 2014 amendment to IFRS 10 and IAS 28 IFRS Interpretations Committee issues 23 Jan 2014 The IASB discussed specific questions related to Paper 12 A Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Amendments to IFRS 10 and IAS 28 Paper 12 B Proposed Elimination of gains from downstream transactions and Paper 12 C Accounting for Acquisitions of Interests in Joint Operations Amendments to IFRS 11 IAS 28 Elimination of intercompany profits between an investor and its joint venture 25 Jul 2013 The Board discussed the Committee s recommendation addressing accounting for a transaction between a joint venturer

    Original URL path: http://www.iasplus.com/en/projects/completed/consol/ias-28-downstream (2016-02-10)
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  • IAS 28 — Items not added to the agenda
    to the agenda IAS 29 Items not added to the agenda IAS 31 Items not added to the agenda IAS 32 Items not added to the agenda IAS 33 Items not added to the agenda IAS 34 Items not added to the agenda IAS 36 Items not added to the agenda IAS 37 Items not added to the agenda IAS 38 Items not added to the agenda IAS 39 Items not added to the agenda IAS 40 Items not added to the agenda IAS 41 Items not added to the agenda IFRS 1 Items not added to the agenda IFRS 2 Items not added to the agenda IFRS 3 Items not added to the agenda IFRS 4 Items not added to the agenda IFRS 5 Items not added to the agenda IFRS 6 Items not added to the agenda IFRS 7 Items not added to the agenda IFRS 8 Items not added to the agenda IFRS 9 Items not added to the agenda IFRS 10 Items not added to the agenda IFRS 11 Items not added to the agenda IFRS 12 Items not added to the agenda IFRS 13 Items not added to the agenda IFRS 14 Items not added to the agenda IFRIC 21 Items not added to the agenda IFRS Interpretations Committee agenda discussions Info IAS 28 Items not added to the agenda Background This page presents a summary of items not added to the IFRS Interpretations Committee s agenda in relation to IAS 28 Investments in Associates and Joint Ventures 2011 and IAS 28 Investments in Associates together with the Committee s public explanation of the reasons for not adding those items to its agenda Related Discussions IAS 28 and IFRS 3 Associates and common control 14 May 2013 The Interpretations Committee received a request seeking clarification of the accounting for an acquisition of an interest in an associate or joint venture from an entity under common control IAS 27 IAS 28 Impairment of investments in associates in separate financial statements 23 Jan 2013 The IFRS Interpretations Committee considered the issue of whether in its separate financial statements an entity should apply the provisions of IAS 36 Impairment of Assets or IAS 39 Financial Instruments Recognition and Measurement to test its investments in subsidiaries joint ventures and associates carried at cost for impairment IAS 28 Impairment of investments in associates 08 Jul 2009 The IFRIC received a request to consider whether guidance was needed on how impairment of investments in associates should be determined in the separate financial statements of the investor IAS 28 Venture capital consolidations and partial use of fair value through profit or loss 08 Jul 2009 The IFRIC received a request to provide guidance on situations in which a group has an investment in an associate one part of which is held by a subsidiary that is an investment linked insurance fund or mutual fund unit trust or venture capital organisation IAS 28 Potential effect of IFRS 3 and IAS 27 on equity

    Original URL path: http://www.iasplus.com/en/projects/not-added/ias-28-not-added (2016-02-10)
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  • IAS 28 — Reflecting other net asset changes when applying the equity method of accounting
    annual improvement 22 November 2012 ED 2012 3 Equity Method Share of Other Net Asset Changes published Comment deadline 22 March 2013 May 2014 IASB decided not to proceed with the proposed amendments The issue may be reconsidered depending on the outcome of the research project on the equity method of accounting Related Discussions Equity method of accounting Share of other net asset changes 21 May 2014 The IASB had a discussion on how to proceed with the proposed amendments to IAS 28 Equity Method Share of Other Net Asset Changes as some Board members had expressed discomfort with the final amendments The Board decided that a redeliberation would not be constructive and concluded that suspension was the only alternative with an opposition of this magnitude The project might be reconsidered upon outcome of the Equity method of accounting research project IFRS Interpretations Committee issues 21 Mar 2014 The Board was presented several issues stemming from recent discussions of the IFRS Interpretations Committee the majority of which related to cross cutting issues on investment entities Some issues were follow up issues from the February Board meeting IFRS Interpretations Committee issues 19 Feb 2014 The Director of Implementation Activities provided an update of the Interpretations Committee s work in progress In addition a number of suggested amendments were put before the Board for approval IAS 28 Equity method Share of other net assets 12 Dec 2013 The Board discussed three views of how an investor should account for its share of other net asset changes of the investee IAS 28 Equity method Share of other net asset changes 30 Oct 2013 The Board discussed the proposals of the exposure draft on share of other net asset changes in equity method The Board decided not to proceed with the proposals and will redeliberate this topic at its next meeting IAS 28 Equity method Share of other net asset changes 16 Jul 2013 The Committee discussed whether it should propose to the IASB that its amendment should be revised so that an investor should recognise other net asset change of the investee in the investor s OCI Due process papers IASB only 19 Oct 2012 The Board discussed the proposed amendments to IAS 28 and the annual improvements cycle 2011 2013 deciding to issue a separate exposure draft for the proposed amendments to IAS 16 and IAS 38 on revenue based depreciation and amortisation IAS 28 Application of the equity method when an associate s equity changes outside comprehensive income 18 Jul 2012 The Board discussed an IAS 28 amendment proposed by the IFRS Interpretations Committee which aimed to provide guidance on whether and where an investor should account for its share of the changes in the net assets of the associate that are not recognised in profit or loss or other comprehensive income OCI of the associate i e other net asset changes Issues from the IFRS Interpretations Committee 14 Jun 2012 The IASB discussed two issues recently considered by the IFRS

    Original URL path: http://www.iasplus.com/en/projects/completed/consol/ias-28-equity-method (2016-02-10)
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  • IAS 29 – First-time adoption of IAS 29
    Research projects Post implementation reviews Agenda consultations Completed projects Annual improvements Assets Conceptual framework Consolidation and business combinations Employee benefits Financial instruments Financial statements and disclosure First time adoption Income taxes Leases Liabilities Revenue Share based payments Other Items not added to the agenda IFRIC Navigation Other Effective dates and transition Fair value measurement Government grants IAS 23 US GAAP convergence project IAS 29 First time adoption of IAS 29 IAS 34 Interaction with IAS 36 and IAS 39 IAS 8 Effective dates and transition methods IASB FASB convergence Insurance contracts Phase I Preface to International Financial Reporting Standards Service concession arrangements IFRS 13 Unit of account Info IAS 29 First time adoption of IAS 29 Background While this IFRIC project started out focusing on the calculation of the comparative amount of deferred taxes when an entity in a hyperinflationary economy restates its financial statements for the first time under IAS 29 Financial Reporting in Hyperinflationary Economies it has evolved to address more broadly the issues of restatements when applying IAS 29 for the first time Current status of the project This project has been completed IFRIC 7 Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies was issued on 24 November 2005 Project milestones Date Development Comments 11 March 2004 IFRIC D5 Applying IAS 29 Financial Reporting in Hyperinflationary Economies for the First Time published Comment deadline 14 May 2004 24 November 2005 IFRIC 7 Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies issued Effective for annual periods beginning on or after 1 March 2006 Quick links IFRIC 7 Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies Related news IFRIC 7 on hyperinflation 24 Nov 2005 IFRIC issues draft interpretation on hyperinflationary reporting 11 Mar 2004 All Related

    Original URL path: http://www.iasplus.com/en/projects/completed/other/project116 (2016-02-10)
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  • IAS 29 — Items not added to the agenda
    the agenda IAS 20 Items not added to the agenda IAS 21 Items not added to the agenda IAS 23 Items not added to the agenda IAS 24 Items not added to the agenda IAS 26 Items not added to the agenda IAS 27 Items not added to the agenda IAS 28 Items not added to the agenda IAS 29 Items not added to the agenda IAS 31 Items not added to the agenda IAS 32 Items not added to the agenda IAS 33 Items not added to the agenda IAS 34 Items not added to the agenda IAS 36 Items not added to the agenda IAS 37 Items not added to the agenda IAS 38 Items not added to the agenda IAS 39 Items not added to the agenda IAS 40 Items not added to the agenda IAS 41 Items not added to the agenda IFRS 1 Items not added to the agenda IFRS 2 Items not added to the agenda IFRS 3 Items not added to the agenda IFRS 4 Items not added to the agenda IFRS 5 Items not added to the agenda IFRS 6 Items not added to the agenda IFRS 7 Items not added to the agenda IFRS 8 Items not added to the agenda IFRS 9 Items not added to the agenda IFRS 10 Items not added to the agenda IFRS 11 Items not added to the agenda IFRS 12 Items not added to the agenda IFRS 13 Items not added to the agenda IFRS 14 Items not added to the agenda IFRIC 21 Items not added to the agenda IFRS Interpretations Committee agenda discussions Info IAS 29 Items not added to the agenda Background This page presents a summary of items not added to the IFRS Interpretations Committee s agenda in relation to

    Original URL path: http://www.iasplus.com/en/projects/not-added/ias-29-not-added (2016-02-10)
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  • IAS 31 — Items not added to the agenda
    to the agenda IAS 14 Items not added to the agenda IAS 16 Items not added to the agenda IAS 17 Items not added to the agenda IAS 18 Items not added to the agenda IAS 19 Items not added to the agenda IAS 20 Items not added to the agenda IAS 21 Items not added to the agenda IAS 23 Items not added to the agenda IAS 24 Items not added to the agenda IAS 26 Items not added to the agenda IAS 27 Items not added to the agenda IAS 28 Items not added to the agenda IAS 29 Items not added to the agenda IAS 31 Items not added to the agenda IAS 32 Items not added to the agenda IAS 33 Items not added to the agenda IAS 34 Items not added to the agenda IAS 36 Items not added to the agenda IAS 37 Items not added to the agenda IAS 38 Items not added to the agenda IAS 39 Items not added to the agenda IAS 40 Items not added to the agenda IAS 41 Items not added to the agenda IFRS 1 Items not added to the agenda IFRS 2 Items not added to the agenda IFRS 3 Items not added to the agenda IFRS 4 Items not added to the agenda IFRS 5 Items not added to the agenda IFRS 6 Items not added to the agenda IFRS 7 Items not added to the agenda IFRS 8 Items not added to the agenda IFRS 9 Items not added to the agenda IFRS 10 Items not added to the agenda IFRS 11 Items not added to the agenda IFRS 12 Items not added to the agenda IFRS 13 Items not added to the agenda IFRS 14 Items not added to the agenda IFRIC

    Original URL path: http://www.iasplus.com/en/projects/not-added/ias-31-not-added (2016-02-10)
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  • IAS 32 – Classification of rights issues
    IAS 32 Classification of instruments denominated in a foreign currency IAS 32 Classification of rights issues IAS 32 Members shares in co operative entities IAS 32 Puttable financial instruments IAS 32 IAS 39 Improvements to IASC financial instruments standards IAS 39 Cash flow hedge accounting of forecast intragroup transactions IAS 39 Exposures qualifying for hedge accounting IAS 39 Fair value option IAS 39 Macro hedging IAS 39 Reassessment of embedded derivatives IAS 39 Transition and day 1 profit recognition IAS 39 IAS 32 Debt to equity swaps IAS 39 IAS 37 Credit risk in liability measurement IAS 39 IFRS 4 Financial guarantee contracts and credit insurance IAS 39 IFRS 7 Reclassification of financial assets IAS 39 IFRS 9 Novation of OTC derivatives and continuing designation for hedge accounting IFRIC 16 Amendment to the restriction on the entity that can hold hedging instruments IFRIC 9 Scope of IFRIC 9 and revised IFRS 3 IFRS 7 Disclosures about investments in debt instruments IFRS 7 Improved disclosures about financial instruments Financial instruments General hedge accounting Financial instruments Impairment Financial instruments Limited reconsideration of IFRS 9 IAS 32 Put options over non controlling interests NCIs Info IAS 32 Classification of rights issues Background In 2005 the IFRIC recommended to the IASB that it amend IAS 32 Financial Instruments Presentation to permit a conversion or stand alone option to be classified as equity if the exercise price was fixed in any currency In September 2005 the Board decided not to proceed with the proposed amendment Click here for more information about that project In 2009 IFRIC received a related request as to whether a right entitling the holder to receive a fixed number of the issuing entity s own equity instruments for a fixed amount of a currency other than the issuing entity s functional currency foreign currency should be accounted for as a derivative liability These rights are commonly described as rights issues and include rights options and warrants The entity issues one or more rights to acquire a fixed number of additional shares pro rata to all existing shareholders of a class of non derivative equity instruments The exercise price is normally below the current market price of the shares IFRIC recommended to the IASB that it consider an amendment to IAS 32 to permit rights issues denominated in a foreign currency to be classified as equity Current status of the project This project has been completed Classification of Rights Issues Amendment to IAS 32 was issued on 8 October 2009 Project milestones Date Development Comments 6 August 2009 Exposure Draft ED 2009 9 Classification of Rights Issues published Comment deadline 7 September 2009 8 October 2009 Classification of Rights Issues Amendment to IAS 32 issued Effective for annual periods beginning on or after 1 February 2010 Related Discussions IAS 32 Classification of rights and options 09 Jul 2009 The staff presented two additional issues occurring lately to the IFRIC 1 rights issues denominated in a foreign currency 2 collars on conversion options

    Original URL path: http://www.iasplus.com/en/projects/completed/fi/ias-32-rights-issues (2016-02-10)
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