Follow Us

Follow us on Twitter  Follow us on LinkedIn
 

02 February 2011

EFRAG final comment on effective dates and transition methods


Default: Change to:


EFRAG published its final comment letter on the IASB Request for Views on Effective Dates and Transition Methods.


In October 2010, the IASB issued the Request for Views on Effective Dates and Transition Methods. The Request for Views asks constituents’ views on the proposed transition methods and effective dates of the projects that the IASB is currently working on.
 
EFRAG believes it would be necessary to distinguish between two groups of standards:
Group 1: the standards resulting from the projects on Revenue from Contracts with Customers, Leases, Insurance Contracts, Financial Instruments (IFRS 9) and Fair Value Measurement, which should have a single effective date of 1 January 2015 at the earliest.
Group 2: the standards resulting from the projects on Post-employment benefits: Defined benefit plans, Presentation of items of Other Comprehensive Income, Consolidation and Joint Arrangements, for which early adoption should be permitted and for which the effective dates could be considered on a case-by-case basis.

Press release


© EFRAG - European Financial Reporting Advisory Group


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment