EFRAG Update detailing July through September developments

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10 Sep 2014

The European Financial Reporting Advisory Group (EFRAG) has released a new issue of its 'EFRAG Update' newsletter, summarising the discussions held at the EFRAG TEG conference call of 24 July and the EFRAG TEG meeting of 3-5 September 2014.

Highlights included the issuance two endorsement advice letters on (1) the amendments to IFRS 11 regarding the acquisitions of interests in joint operations and (2) the amendments to IAS 16 and IAS 38 on acceptable methods of depreciation and amortisation. In addition, the EFRAG TEG approved:

  • a feedback statement on the EFRAG/ANC/FRC research paper The Role of the Business Model in Financial Statements;
  • a feedback statement on the EFRAG Short Discussion Series paper The Equity Method: a measurement basis or one-line consolidation? and
  • a draft comment letter in response to the IASB Exposure Draft Recognition of Deferred Tax Assets for Unrealised Losses (draft comment letter not published yet).

Additional topics discussed in the newsletter are:

Please click for the new issue of the EFRAG Update (link to EFRAG website).

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