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.

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