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IAS Plus newsletter — IASB amends IFRIC 14

Published on: 05 Dec 2009

The International Accounting Standards Board (IASB) has issued Prepayments of a Minimum Funding Requirement, amendments to IFRIC 14 IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction.

The amendments have been made to remedy an unintended consequence of IFRIC 14 where entities are in some circumstances not permitted to recognise as an asset prepayments of minimum funding contributions.

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