EFRAG Update detailing July through September developments
10 Sep, 2014
The European Financial Reporting Advisory Group (EFRAG) has released a new issue of its 'EFRAG Update' newsletter, summarising the discussions held at the EFRAG TEG conference call of 24 July and the EFRAG TEG meeting of 3-5 September 2014.
Highlights included the issuance of two endorsement advice letters on (1) the amendments to IFRS 11 regarding the acquisitions of interests in joint operations and (2) the amendments to IAS 16 and IAS 38 on acceptable methods of depreciation and amortisation. In addition, the EFRAG TEG approved:
-
a feedback statement on the EFRAG/ANC/FRC research paper The Role of the Business Model in Financial Statements;
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a feedback statement on the EFRAG Short Discussion Series paper The Equity Method: a measurement basis or one-line consolidation? and
- a draft comment letter in response to the IASB Exposure Draft Recognition of Deferred Tax Assets for Unrealised Losses (draft comment letter not published yet).
Additional topics discussed in the newsletter are:
- IASB Discussion Paper on Macro Hedging
- IFRS 9
- IFRS 11
- IFRS 15
- Conceptual framework
- Insurance contracts
- Leases
- Rate-regulated activities
- IFRS 2 — Clarifications of classification and measurement of share based payment transactions
- Amendments Equity Method in Separate Financial Statements (Amendments to IAS 27)
Please click for the new issue of the EFRAG Update (link to EFRAG website).
