IAS 8 — Effective dates and transition methods


This project indirectly arose out of the IASB's project on effective dates and transition methods, which was being considered as part of the other ongoing larger ‘big four’ projects (revenue recognition, leases, insurance contracts and financial instruments).

At the IASB's May 2012 meeting, the Board discussed a number of different topics related to disclosure considerations under IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors in relation to effective dates and transition guidance for adoption of new or amended IFRSs.

As a result of that discussion, the IASB agreed to consider amendments to IAS 8 in the following areas:

  • removing the requirement that entities quantify the effect on the current period of a change in accounting policy as a result of a change in IFRSs
  • removing the requirement that entities quantify the effect on the current period of a voluntary change in accounting policy
  • clarify that an entity should be required to provide the disclosure for new or amended IFRSs that were issued by the date of its current statement of financial position.


Current status of the project

The IASB removed this project from its active agenda at its October 2012 meeting.  Issues arising from the project may instead be dealt with in a future forum on disclosure and as part of the Conceptual Framework project.

The project was originally added to the IASB's agenda at the May 2012 meeting and a ballot of an exposure draft was previously developed with a view of issuing it in the fourth quarter of 2012.


Project milestones

May 2012 Added to the IASB's agenda
October 2012 Removed from the IASB's agenda Issues arising may instead be considered as part of the Conceptual Framework project

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