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EFRAG issues final endorsement advice and effects study report on bearer plants

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

22 Sep 2014

The European Financial Reporting Advisory Group (EFRAG) has submitted to the European Commission its endorsement advice letter and effects study report on the amendments to IAS 16 and IAS 41 that bring bearer plants into the scope of IAS 16.

EFRAG supports the amendments, which bring bearer plants, which are used solely to grow produce, into the scope of IAS 16 so that they are accounted for in the same way as property, plant and equipment. The EFRAG's assessment is that benefits for preparers and users implementing the amendments outweigh the costs and therefore EFRAG recommends that the European Commission (EC) endorses the amendments.

Click for the following information on the EFRAG website:

EFRAG has updated its endorsement status report to reflect that the final endorsement advice has been issued.

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