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Exposure Draft on rate-regulated activities

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23 Jul 2009

The IASB has invited comment on proposals on the accounting for rate-regulated activities. The proposals are set out in an exposure draft Rate-regulated Activities. Comments are due 20 November 2009.

The objective of the proposals is to establish whether and how assets and liabilities resulting from rate-regulated activities should be recognised and measured under International Financial Reporting Standards (IFRSs). If adopted, the proposed IFRS would:
  • define regulatory assets and regulatory liabilities.
  • set out criteria for their recognition.
  • specify how they should be measured.
  • require disclosures about their financial effects.
The IASB was asked for guidance on the issue from many jurisdictions. Clarifying the accounting for rate regulation is of particular importance for jurisdictions that are in the process of adopting IFRSs and where accounting for the effect of rate regulation is in place for some sectors. In those cases entities are currently recognising sometimes significant 'regulatory' assets and liabilities by reference to an existing US standard, in the absence of an IFRS. Click for IASB Press Release (PDF 107k). Here is the link to the IAS Plus Project Page.

 

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