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July 2015 IASB Update - IAS 12

  • IFRS - IASB Image
  • IFRS - Meeting Image

Jul 29, 2015

On July 29, 2015, the International Accounting Standards Board issued the Update summary of its meeting on July 20, 22 and 23, 2015.

At its meeting on July 22, 2015, the IASB reviewed the due process steps undertaken in completing the narrow-scope amendments to IAS 12 on the recognition of deferred tax assets for unrealised losses.

All IASB members agreed that:

  1. the amendments to IAS 12 should be finalised without re-exposure;
  2. the effective date of the amendments should be January 1, 2017 and earlier application should be permitted; and
  3. the due process requirements to date have been complied with.

The IASB plans to issue the final amendments to IAS 12 in Q4 of 2015.

Review the IASB Update.

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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.