Reminder about upcoming comment deadline
23 Apr 2007
We remind you that the deadline is 27 April 2007 for responding to the Exposure Draft: Amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards.
The Exposure Draft proposes to allow a parent to use a 'deemed cost' to measure its investment in subsidiaries when it first adopts IFRSs. This deemed cost can be determined by reference to the parent's investment in the net assets of the subsidiary or the fair value of the parent's investment. In addition, the proposals would alleviate the need to restate the pre-acquisition accumulated profits of the subsidiary in accordance with IFRSs for the purposes of classifying dividends.
