New BDO IFR Bulletin Available: IFRSs, IFRICs and Amendments that are mandatory for the first time for 31 December 2016 Year Ends

This IFRB summarises the requirements of the following pronouncement, all of which are mandatory for annual periods beginning on or after 1 January 2017:

1. Amendment to IAS 7 Statement of Cash Flows resulting from the IASB’s disclosure initiative project, and dealing with disclosures to enable users to evaluate changes in liabilities arising from financing activities;
2. Amendment to IAS 12 Income Taxes dealing with the recognition of deferred tax assets for unrealised losses; and
3. Amendment to IFRS 12 Disclosure of Interests in Other Entities as part of the 2014-2016 Annual improvements project, and dealing with those IFRS 12 disclosures that need to be given about interests classified as held for sale or distribution in accordance with IFRS 5 Non-current Assets Held for sale and Discontinued operations.

Please click here to download the IFRB, which is available from the BDO global web site.