RSM Global

Issue 44 - IFRS News In Brief

This forty-fourth edition features:

Publications and Announcements

  • IFRS 10, IFRS 12 and IAS 28 amended for investment entity requirements

  • IAS 1 amended under the Disclosure Initiative project 

  • Proposals for amendments to IAS 7 open for comment until 17 April 2015 

International Accounting Standards Board - Latest Decisions Summary

At its short meeting on 16 December 2014, the IASB decided to commence the balloting process of the amendments to the IFRS for SMEs, discussed the feedback received on the post-implementation review of IFRS 3 Business Combinations, continued discussions on the Disclosure Initiative, and tentatively decided (jointly with the FASB) that the definition of a lease would not include a requirement that the customer must have the ability to derive the benefits from directing the use of an identified asset on its own or together with other resources that are sold separately or that can otherwise be sourced in a reasonable period of time. 

RSM International Comment Letters

On 15 December 2014, RSM International submitted a letter of comment to the IASB on ED/2014/3 Recognition of Deferred Tax Assets for Unrealised Losses (Proposed amendments to IAS 12)

Upcoming Comment Deadlines

 

 

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