IFRS 3/IFRS 11 — Remeasurement of previously held interests
Background
The IFRS Interpretations Committee received and discussed several issues around transactions involving previously held interests in order to determine whether or not previously held interests should be remeasured. This project page tracks developments around the accounting for previously held interests when an entitiy obtains control or joint control over a joint operation that meets the definition of a business. The Interpretations Committee had recommended to the IASB to make certain amendments and the IASB agreed to follow the Committee's recommendation in October 2015, provided the amendments were grouped with and conditional on other amendments relating to the definition of a business.
Current status of the project
Project milestones
Date | Development | Comments |
---|---|---|
October 2015 | Formally added to the IASB agenda | |
28 June 2016 | ED/2016/1 Definition of a Business and Accounting for Previously Held Interests (Proposed amendments to IFRS 3 and IFRS 11) published | comments requested by 31 October 2016 |
12 December 2017 | proposed amendments finalised as part of the annual improvements 2015-2017 | amendments effective for reporting periods beginning on or after 1 January 2019 |