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IASB issues Exposure Draft of proposed amendments to IAS 16 and IAS 41

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IAS 41 Agriculture—Subsequent expenditure (Agenda Paper 6)
Sep 17, 2019 12:55 PM
The Committee decided, by a majority of votes, to finalise the agenda decision, with the addition discussed in the meeting.
Property, plant and equipment
Jun 19, 2019 10:00 AM
The Board discussed the staff's recommendations related to the proposed amendments to IAS 16.
IAS 41 — Subsequent expenditure
Jun 11, 2019 04:40 PM
The Committee received a submission about an entity shall capitalise or expense the costs related to the biological transformation of biological assets (subsequent expenditure) applying IAS 41.
Amendments to IFRS 17 'Insurance Contracts'
Jan 23, 2019 01:00 PM
This meeting considered the following issues: (1) insurance acquisition cash flows for renewals outside the contract boundary; (2) reinsurance contracts held—onerous underlying insurance contracts; (3) reinsurance contracts held—underlying insurance contracts with direct participation features; and (4) recognition of the contractual service margin in profit or loss in the general model.
IAS 16 — Proceeds before intended use
Jun 12, 2018 01:40 PM
In June 2017, the Board published the Exposure 'Draft Property, Plant and Equipment –– Proceeds before Intended Use'. Many respondents to the ED either disagreed with, or expressed concerns about, the proposed amendments. The staff are interested in the Committee’s advice on how best to proceed on this project.
IFRS implementation issues
Jan 25, 2018 10:15 AM
The purpose of this session was to discuss (1) commodity loans and related transactions — Potential new research project and (2) IAS 41 — Taxation in fair value measurement — Potential annual improvement.
IAS 41 — Taxation in fair value measurements
Sep 12, 2017 09:25 AM
This was a new issue. The IC received a request to consider amending IAS 41 to remove the requirement of using pre-tax cash flows when measuring the fair value of a biological asset.
IAS 41 — Biological assets growing on bearer plants
Jun 13, 2017 01:10 PM
In March 2017, the IC discussed whether there are circumstances in which an entity cannot reliably measure the fair value of growing produce. In particular, the issue centred on whether fruit growing on oil palms could be considered to be an example of a biological asset for which an entity might rebut the fair value presumption set out in IAS 41.30.
IAS 41 — Biological assets growing on bearer plants
Jun 13, 2017 01:10 PM
The IC discussed the fair value of biological assets growing on bearer plants.
IAS 41 — Fair value of biological assets growing on bearer plants
Mar 14, 2017 02:45 PM
The Committee discussed circumstances in which an entity cannot reliably measure the fair value of growing produce.

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