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:
- The IASB members agreed that the proposed amendments to IAS 16 and IAS 38 should be finalised without re-exposure,
- No Board members intend to dissent to the final amendment,
- Effective date will be 1 July 2015 with earlier application permitted and
- 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.
