This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Property, Plant and Equipment: Proceeds before Intended Use – International Accounting Standards Board

Date recorded:

At its meeting on October 22, 2019, the IASB met to discuss the transition requirements and effective date for the amendments to IAS 16. The Board tentatively decided:

  1. to require an entity to apply the amendments retrospectively only to items of PPE made available for use on or after the beginning of the earliest period presented when the entity first applies the amendments;
  2. to provide no transition relief for first-time adopters; and
  3. that the effective date of the amendments be for annual periods beginning on or after January 1, 2022, with earlier application permitted. The Board agreed that the amendments do not require re-exposure and no Board members indicated they intend to dissent from the issuance of amendments.

Review the IASB Update and podcast on the Board's Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.