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China Accounting Alert

IASB news and updates

  • IASB issues narrow-scope amendments to IFRS 9 and IAS 28

    On 12 October 2017, the IASB issued amendments to IFRS 9 Financial Instruments and to IAS 28 Investments in Associates and Joint Ventures to aid the implementation of the standards.

    The amendments to IFRS 9 allow companies to measure particular prepayable financial assets with so-called negative compensation at amortised cost or at fair value through other comprehensive income if a specified condition is met—instead of at fair value through profit or loss.

    The amendments to IAS 28 Investments in Associates and Joint Ventures clarify that companies account for long-term interests in an associate or joint venture—to which the equity method is not applied—using IFRS 9.

    The board has also published an example that illustrates how companies apply the requirements in IFRS 9 and IAS 28 to long-term interests in an associate or joint venture.

    The IFRS Taxonomy will be updated to reflect the new presentation and disclosure requirements introduced by the amendments to IFRS 9. Consequently, the board also published the Proposed IFRS Taxonomy Update—Prepayment Features with Negative Compensation for public consultation. The comment deadline is 11 December 2017.

    The amendments are effective from 1 January 2019, with early application permitted.

  • China Accounting Alert: September / October 2017 (pdf, 402.96kb)
  • China Accounting Alert: August 2017 (pdf, 627kb)
  • China Accounting Alert: July 2017 (pdf, 556.23kb)
  • China Accounting Alert: June 2017 (pdf, 719.13kb)
  • China Accounting Alert: May 2017 (pdf, 544.13kb)
  • China Accounting Alert: April 2017 (pdf, 328.74kb)
  • China Accounting Alert: March 2017 (pdf, 387.44kb)
  • China Accounting Alert: February 2017 (pdf, 774.47kb)
  • China Accounting Alert: January 2017 (pdf, 898.02kb)

 

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