Outstanding exposure drafts - IFRS
| Title | Description | Next step date |
|---|---|---|
| Business Combinations under Common Control (Potential Amendments to IFRS 3) [DP] | The essence of the project is to identify whether and when an entity should continue to use the previous carrying amounts of a transferred business (carry-over accounting) and whether and when it should apply business combination accounting. | Sep 01, 2021 |
| Disclosure initiative — Accounting Policies [ED] | The objective of this project is to develop guidance and examples to help entities apply materiality judgements to accounting policy disclosure. | Mar 31, 2021 |
| Accounting Policies and Accounting Estimates (Potential Amendments to IAS 8) [ED] | The purpose of this project is to clarify the distinction between a change in an accounting policy and a change in an accounting estimate, in relation to the application of IAS 8. | Mar 31, 2021 |
| Goodwill and Impairment [ED] | The objective of this project is to consider how to address the three areas of focus identified in the Post-implementation Review of IFRS 3, Business Combinations. | Mar 31, 2021 |
| Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12 [RFI] | The IASB conducts a Post-implementation Review (PIR) of each new IFRS Standard or major amendment. A PIR is a mandatory step in the due process for new IFRS Standards or major amendments to IFRS Standards. | May 10, 2021 |
| IFRS Taxonomy Update (Amendments to IFRS 17, IFRS 4 and IAS 16) [ED] | On July 16, 2020, the IFRS Foundation published a Proposed Taxonomy Update, 'IFRS Taxonomy 2020 — 'Amendments to IFRS 17', 'Extension of the Temporary Exemption from Applying IFRS 9' and 'Property, Plant and Equipment — Proceeds before Intended Use''. Comments are requested by September 14, 2020. | Mar 31, 2021 |
| Reporting the Financial Effects of Rate Regulation [ED] | This is the first step in the IASB’s project to develop a comprehensive IFRS standard for entities that have rate-regulated activities. | Jan 31, 2021 |
| Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) [ED] | The proposed narrow-scope amendment would narrow the initial recognition exemption in paragraphs 15 and 24 of IAS 12 so that it would not apply to transactions that give rise to both taxable and deductible temporary differences, to the extent the amounts recognized for the temporary differences are the same At its meeting on October 24, 2018, the International Accounting Standards Board discussed the IFRS Interpretations Committee’s recommendation to propose a narrow-scope amendment to IAS 12, Income Taxes. The proposed amendment relates to the recognition of deferred tax when an entity accounts for transactions, such as leases or decommissioning obligations, by recognizing both an asset and a liability. | Jun 30, 2021 |