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IAS 16 / IAS 38 — Clarification of acceptable methods of depreciation and amortisation

Date recorded:

The project manager explained that the objective is to assess whether the revised amendments can be finalised. The Board members approved the following:

  1. The IASB members agreed that the proposed amendments to IAS 16 and IAS 38 should be finalised without re-exposure,
  2. No Board members intend to dissent to the final amendment,
  3. Effective date will be 1 July 2015 with earlier application permitted and
  4. IASB members approved that all due process requirements were completed.

Note: Paper 12C which was discussed in the November meeting includes the details of the amendments.

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.