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 (http://www2.deloitte.com/ca/en/legal/cookies.html) 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.

Annual Improvements to IFRSs 2017-2019 Cycle [Research]

Next steps:

The IASB expects to issue an Exposure Draft in June 2019

Last updated:

April 2019

Overview

This pro­ject tracks de­vel­op­ments in the an­nual im­prove­ments process for the 2017-2019 cy­cle. The is­sues in­cluded in this cy­cle to date are:

IFRS 1, First-time Adoption of International Financial Reporting Standards

The proposal would require a subsidiary that measures its assets and liabilities at its date of transition to IFRS Standards using the amounts reported by its parent to also measure cumulative translation differences using the amounts reported by its parent.

IFRS 9, Financial Instruments

Fees included in the '10 per cent' test for the purpose of derecognition

The issue relates to the requirements in IAS 39 and IFRS 9 as to which fees and costs should be included in the ‘10 per cent’ test for the purpose of derecognition of a financial liability.

IFRS 16 — Leases

The proposal would amend Illustrative Example 13 accompanying IFRS 16 Leases. The proposed amendment would remove from the example the illustration of the reimbursement of leasehold improvements by the lessor.

IAS 12 — Income Taxes

The proposal 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.

IAS 41, Agriculture

The proposal would remove the requirement for entities to exclude cash flows for taxation when measuring the fair value of biological assets using a present value technique.

 

Other Developments

April 2019

On April 12, 2019, the IASB® staff updated the work plan to indicate that the Board expects to issue an Exposure Draft in June 2019.

January 2019

On January 25, 2019, the IASB® staff updated the work plan to indicate that the Board expects to issue an Exposure Draft in Q2/2019.

December 2018

On December 14, 2018, the IASB® staff updated the work plan to indicate that the Board expects to issue an Exposure Draft in the first half of 2019.

November 2018

In November 2018, the IASB staff updated the work plan to indicate that the IASB expects to issue an Exposure Draft in respect of the narrow-scope amendment to IAS 12 in the first half of 2019.

June 2017

In June 2017, the IASB staff up­dated the work plan to in­di­cate that the IASB ex­pects to is­sue an Ex­po­sure Draft in respect of this project but the tim­ing de­pends on the iden­ti­fi­ca­tion of other mat­ters for in­clu­sion in the an­nual im­prove­ments process.

 

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.