IFRS 3/IFRS 11 — Remeasurement of previously held interests


The IFRS Interpretations Committee received and discussed several issues around transactions involving previously held interests in order to determine whether or not previously held interests should be remeasured. This project page tracks developments around the accounting for previously held interests when an entitiy obtains control or joint control over a joint operation that meets the definition of a business. The Interpretations Committee had recommended to the IASB to make certain amendments and the IASB agreed to follow the Committee's recommendation in October 2015, provided the amendments were grouped with and conditional on other amendments relating to the definition of a business.


Current status of the project

This project has been completed. The proposed amendments were finalised as part of the annual improvements 2015-2017 on 12 December 2017.


Project milestones

Date Development Comments
October 2015 Formally added to the IASB agenda
28 June 2016 ED/2016/1 Definition of a Business and Accounting for Previously Held Interests (Proposed amendments to IFRS 3 and IFRS 11) published comments requested by 31 October 2016
12 December 2017 proposed amendments finalised as part of the annual improvements 2015-2017 amendments effective for reporting periods beginning on or after 1 January 2019


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.