Exposure Draft ED/2017/1 Annual Improvements to IFRS 2015-2017 Cycle
12 January 2017
The IASB has published an Exposure Draft ED/2017/1 setting out proposed changes to three standards as part of its annual improvements project.
The amendments proposed are to:
- IAS 12 Income Taxes to clarify that an entity should account for all income tax consequences of dividends in the same way, regardless of how the tax arises.
- IAS 23 Borrowing Costs to clarify which borrowing costs are eligible for capitalisation as part of the cost of an asset in particular circumstances; and
- IAS 28 Investments in Associates and Joint Ventures to clarify that an entity should apply IFRS 9 Financial Instruments to long-term interests in an associate or joint venture to which it does not apply the equity method.
Responses to the Exposure Draft are requested by 12 April 2017. Further information, including soft copies of the Exposure Draft, are available from the IASB’s web site here.