New BDO IFR Bulletin: Annual Improvements to IFRS Standards 2015-2017 Cycle

This IFRB details the clarifications made to IFRSs in its Annual Improvements to IFRS Standards 2015-2017 Cycle

The amendments affect:

• IFRS 3 Business Combinations, clarifying that when an entity obtains control of a previously held interest in a joint operation it should remeasure the previously held interest to fair value;
• IFRS 11 Joint Arrangements, clarifying that when an entity obtains joint control of a joint operation it does not remeasure the previously held interest;
• IAS 12 Income Taxes, clarifying how to account for any income tax consequences of paying dividends to holders of equity instruments; and
• IAS 23 Borrowing Costs, clarifying how to determine the capitalisation rate to apply to general borrowings used to finance a qualifying asset.

The IFRB is available from the BDO global web site here.