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ARTICLE · 25 JUNE 2013

On The Horizon For IFRS - June 14, 2013

Grant Thornton LLP
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IASB issues April 2013 IASB-only meeting highlights.

United StatesAccounting and Audit
Grant Thornton'S Audit Practice Group
Grant Thornton'S Audit Practice Group
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IASB-only meeting April 2013

IASB issues April 2013 IASB-only meeting highlights Key issues

At the April 2013 IASB-only meeting the following issues were discussed:

  • Annual Improvements to IFRSs 2010-2012 Cycle: The IASB tentatively decided to finalize the proposed amendment on IAS 16, Property, Plant and Equipment and IAS 38, Intangible Assets ‒ Revaluation method: proportionate restatement of accumulated depreciation. The IASB expects to issue the amendments Annual Improvements to IFRSs 2010−2012 Cycle in the third quarter of 2013.
  • Annual Improvements to IFRSs 2012-2014 Cycle:
    • The IASB tentatively agreed that amendments to IAS 7, Statement of Cash Flows, on a piecemeal basis would not be appropriate. The IASB agreed with the IFRS Interpretations Committee not to proceed with previous proposals to amend IAS 7.

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