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 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.

EFRAG draft comment letter on proposed amendments to IAS 16

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

05 Jul 2017

The European Financial Reporting Advisory Group (EFRAG) has issued a draft comment letter on the IASB exposure draft ED/2017/4 'Property, Plant and Equipment — Proceeds before Intended Use (Proposed amendments to IAS 16)'.

EFRAG supports the IASB proposals; however, EFRAG does not believe the definition for ‘testing’ is needed since the proposed amendments “do not distinguish between net proceeds from selling items produced during the testing phase from any other proceeds prior to the item of property, plant and equipment being available for use.”

Comments on EFRAG's draft comment letter are requested by 13 October 2017. For more in­for­ma­tion, see the press release and the draft comment letter on the EFRAG website.

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.