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IFRS 10 – Transitional requirements

Background

This is a short-term IASB project to consider urgent amendments to IFRS 10 Consolidated Financial Statements to alleviate constituent concerns that the transitional requirements of that Standard are more burdensome than had been intended.

 

Current status of the project

This project has been completed.  The IASB issued Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance on 28 June 2012.

 

Project milestones

DateDevelopmentComments
November 2011 Added to the IASB's active agenda Referred from the IFRS Interpretations Committee
20 December 2011 Exposure Draft ED/2011/7 Transition Guidance (Proposed amendments to IFRS 10) published
 Comment deadline 21 March 2012
28 June 2012 Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance released Effective for annual periods beginning on or after 1 January 2013

Related Discussions

  • IFRS 10 transition guidance

  • May 23, 2012

  • The Board reviewed comment letters received for exposure draft Transition Guidance (Proposed Amendments to IFRS 10) and made recommendations to a) proceed with the amendments to the transition guidance of IFRS 10 proposed in the exposure draft; (b) consider additional amendments to further clarify the transition guidance of IFRS 10; (c) consider additional amendments to provide further transition relief in IFRS 10 and the related standards; and (d) consider providing similar transition relief to first time adopters of IFRSs in IFRS 1 First-time Adoption of International Financial Reporting Standards.

  • IFRS 10 – Transitional requirements

  • Nov 15, 2011

  • The Board considered a request to clarify the meaning of 'the date of initial application' in the transitional requirements of IFRS 10 'Consolidated Financial Statements'.

  • IFRS 10 – Transitional requirements (new)

  • Sep 09, 2011

  • The IFRS Interpretations Committee considered a request to clarify the meaning of the 'date of initial application' in the transitional requirements of IFRS 10 'Consolidated Financial Statements'.

All Related