Accounting for Subsidiaries under the Cost Method and the Equity Method - AcSB

Date recorded:

The Accounting Standards Board (AcSB) debated and agreed with the recommendations from its Private Enterprise Advisory Committee on the remaining issues when using the cost method to account for subsidiaries, including presentation and disclosure requirements.  The AcSB also decided that the proposed amendments to Sections 1591, Subsidiaries, and 3051, Investments, relating to the application of the cost method, as well as consequential amendments, should be applied prospectively to new acquisitions of subsidiaries from the date the amendments become effective.  Earlier application would be permitted. The AcSB expects to publish an exposure draft in the third quarter of 2015.

Review the executive summary.

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