Deloitte comment letter on tentative agenda decision on IAS 16 — Accounting for proceeds and cost of testing on fixed assets

Published on: 22 Sep 2014

We have commented on the IFRS Interpretations Committee tentative decision not to take onto the Committee’s agenda a request for clarification on the accounting for the net proceeds from selling any items produced while bringing an item of property, plant and equipment to the location and condition necessary for it to be capable of operating in the manner intended by management.

We agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda, but not with the reasons set out in the tentative agenda decision.

Download the full comment letter below.


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