Introductory Materials

About this book

The 2020 edition of International GAAP® has been fully revised and updated in order to:

 Continue to investigate the many implementation issues arising as entities adopt IFRS 9 (Financial
Instruments) and IFRS 15 (Revenue from Contracts with Customers).

 Explore in more depth the complex implementation issues arising as entities adopt IFRS 16 (Leases).

 Include an updated chapter on the new insurance contracts standard IFRS 17 (Insurance Contracts) which
reflects the recent Exposure Draft issued by the International Accounting Standards Board (IASB)
proposing various amendments to the standard. The chapter also covers the recent discussions of the
IASB’s Transition Resource Group on implementation issues raised. It also explores other matters arising
as insurers prepare for the adoption of the standard.

 Discuss the new interpretations and agenda decisions issued by the IFRS Interpretations Committee since
the preparation of the 2019 edition.

 Address the amended standards and the many other initiatives that are currently being discussed by the
IASB and the potential consequential changes to accounting requirements.

 Provide insight on the many issues relating to the practical application of IFRS, based on the extensive
experience of the book’s authors in dealing with current issues.

The book is published in three volumes. The 56 chapters – listed on pages ix to xi – are split between the three
volumes as follows:

 Volume 1 - Chapters 1 to 22,

 Volume 2 - Chapters 23 to 43,

 Volume 3 - Chapters 44 to 56.

Each chapter includes a detailed list of contents and list of illustrative examples.

Each of the three volumes contains the following indexes covering all three volumes:

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  an index of extracts from financial statements,

 an index of references to standards and interpretations,

 a general index.

Preface

The IASB reported, in 2018, that 144 of the 166 jurisdictions they have researched require the use of IFRS for all
or most domestic publicly accountable entities (listed companies and financial institutions) in their capital
markets, and a further 12 jurisdictions permit the use of IFRS. Several large economies such as China, India and
Japan do not require IFRS for all or most of their listed companies, but they have made considerable progress to
move towards or to converge with IFRS. The United States is the only major economy that is unlikely to allow
publicly listed domestic companies to apply IFRS in the near term.

Maintaining the current degree of international convergence of accounting standards requires an ongoing
commitment on the part of all jurisdictions involved. This cannot be taken for granted given the increasing desire
around the world to bring back control from the international to the national or regional level. In this context it is
positive to note, for example, that the Summary Report of the Public Consultation on the Fitness Check on the
EU framework for public reporting by companies found that ‘[a] majority of respondents supported the status quo
as regards the EU IFRS endorsement process, and cautioned against “EU carve-ins” that could lead to “EU-
IFRSs”, a situation that could be detrimental to EU companies active globally and to foreign investments into the
EU.’ However, there is a minority that argues in favour of the ability to selectively modify standards as they
believe this would increase the ability to influence the IASB’s standard-setting process. In our view, allowing

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 IFRS to devolve into local flavours, in the hope of broader acceptance, would reduce the existing benefits in
terms of cost, quality and clarity of international financial reporting in exchange for an uncertain future without a
clear mechanism for longer-term convergence.

New standards

IFRS 9 – Financial Instruments – and IFRS 15 – Revenue from Contracts with Customers, which became
effective in 2018, have improved the quality of financial reporting, but their requirements are at times complex. In
the past two years, the IFRS Interpretations Committee has published more than a dozen agenda decisions on
these standards and, at the time of writing, are considering several more.

IFRS 16 – Leases is effective from 1 January 2019 and its interactions with other standards has given rise to a
number of challenging implementation questions that are now being addressed. The IASB has published an
exposure draft that deals with the application of IAS 12 – Income Taxes – to right-of-use assets and lease
liabilities, while the IFRS Interpretations Committee has published several agenda decisions on the application
of IFRS 16 and also its interaction with IFRS 11 – Joint Arrangements. While still early, it is clear that, for many
entities, IFRS 16 has a significant impact on the presentation of their statement of financial position and
statement of profit or loss.

IFRS 17 – Insurance Contracts was published in June 2017, with an effective date of 2021. The standard will
have a profound impact on the accounting for insurance contracts and is also expected to have a significant
operational impact on entities issuing those contracts. In June 2019, the IASB published an exposure draft with
proposed amendments to IFRS 17 in response to matters of concern regarding the concepts and practical
implementation of the standard that were raised by stakeholders, mainly from the European Union as part of its
IFRS endorsement process, but also from other regions. As IFRS 17 will affect many stakeholders, including
preparers, users, auditors and regulators, we agree with the IASB that a careful consideration of these concerns
was warranted and the proposal to defer the mandatory effective date of IFRS 17 to annual reporting periods
beginning on or after 1 January 2022.

Current work plan

While the IASB is starting to prepare for its 2020 Agenda Consultation, it is currently working on the projects in
its work plan for the period from 2017 until 2021. The work plan can be divided into three elements: the
standard-setting and maintenance projects, the research projects, and the Better Communication in Financial
Reporting initiative.

Constituents will welcome the fact that a period of relative calm has arrived once they have adopted IFRS 16;
the IASB’s standard-setting and maintenance agenda is not dominated by a series of ambitious and major new

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 standards, but almost exclusively focuses on narrow scope projects that address certain aspects of existing
standards. The rate-regulated activities project, which aims to develop a new accounting model that deals with a
company's incremental rights and obligations arising from its rate-regulated activities, is a more comprehensive
project but limited in impact as it is industry-specific.

As part of its active research agenda, the IASB’s core model for dynamic risk management is expected in late
2019, while the discussion papers on business combinations under common control, and goodwill and
impairment are now expected in 2020. The IASB has also received feedback on last year’s discussion paper on
financial instruments with characteristics of equity and is currently considering the future direction of the project.
We encourage the IASB to continue its work on these technically complex but important projects as they deal
with issues that have been the source of many accounting questions. In particular, any improvements and
simplifications that may follow from the project on goodwill and impairment would be appreciated by preparers,
users and auditors alike.

The IASB continues to work on the various aspects of its Better Communication in Financial Reporting initiative,
such as the primary financial statements, management commentary and the taxonomy. The project to update
the Management Commentary Practice Statement is especially important as the IASB sees this as the
cornerstone of the notion of ‘broader financial information’.

Erkki Liikanen, the Chair of the IFRS Foundation Trustees, noted in a speech in January 2019 that ‘…we need to
ensure that IFRS Standards remain relevant in a changing world. IFRS is the de facto global standard in
financial reporting. However, investors are not only interested in the pure financial statements. They also want to
know about non-financial information – the company’s sustainability and environmental impact – what sort of
risks these companies face in the long term.’ Similarly, the Embankment Project for Inclusive Capitalism noted,
upon the release of its report to drive sustainable and inclusive growth, that ‘…a company’s value is increasingly
reflected not just in its short-term financial performance, but also by intangible assets such as intellectual
property, talent, brand and innovation, as well as impacts on society and the environment that are not fully
captured by traditional financial statements.’

Many of the non-financial issues that interest investors can be characterised as externalities, which are
commonly defined as consequences of an industrial or commercial activity that affect other parties without being
reflected in market prices. Legislators in some jurisdictions have already taken steps to ensure a minimum level
of communication about such issues. For example, the European Union Directive 2014/95/EU requires large
companies to publish reports on their policies regarding environmental protection, social responsibility and
treatment of employees, respect for human rights, anti-corruption and bribery, and diversity on company boards.
In addition, there are a large number of corporate sustainable standards initiatives across many sectors.

In April 2019, Hans Hoogervorst, the Chairman of the IASB, noted in a speech on sustainability reporting that ‘In
an ideal world, there would be no need for sustainability reporting. Negative externalities, such as pollution,

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 would be adequately taxed so that the price of a product would reflect the cost it imposes on the environment. A
realistic carbon tax would cause the financial statements of smokestack industries to reflect the true costs of
their products. Should these costs make an economic activity unfeasible, the financial statements would show
the impairment of its related assets. Financial reporting and sustainability reporting would be one and the same.’
However, the IASB does not have the breadth of expertise that would allow it to cover the entire field of non-
financial reporting and its resources are limited. Also, when it comes to corporate behaviour, financial incentives
are a much stronger driver than transparency and disclosure requirements. Nevertheless, we encourage the
IASB to take an active role when it comes to the efforts to improve the broader financial report, as non-financial
reporting provides important information that allows users to put the financial statements in context and helps
them in assessing future risks and opportunities. Therefore, we believe it is helpful for the IASB to participate in
initiatives such as, for example, the Corporate Reporting Dialogue, which strives to strengthen cooperation,
coordination and alignment between key standard setters and framework developers that have a significant
international influence on the corporate reporting landscape.

This edition of International GAAP® covers the many interpretations, practices and solutions that have now been
developed based on our work with clients, and discussions with regulators, standard-setters and other
professionals. We believe that International GAAP®, now in its fifteenth edition, plays an important role in
ensuring consistent application and helping companies as they address emerging issues (e.g. interest rate
benchmark reform, application of IFRS 16 and implementation of IFRS 17). These issues are complex and give
rise to many practical questions about the recognition, measurement, presentation and disclosure requirements.

Our team of authors and reviewers hails from all parts of the world and includes not only our global technical
experts but also senior client-facing staff. This gives us an in-depth knowledge of practice in many different
countries and industry sectors, enabling us to go beyond mere recitation of the requirements of standards to
explaining their application in many varied situations.

We are deeply indebted to many of our colleagues within the global organisation of EY for their selfless
assistance and support in the publication of this book. It has been a truly international effort, with valuable
contributions from EY people around the globe.

Our thanks go particularly to those who reviewed, edited and assisted in the preparation of drafts, most notably:
Elisa Alfieri, John Alton, Danielle Austin, Mark Barton, Christian Baur, Paul Beswick, Silke Blaschke, Wan Yi
Cao, Larissa Clark, Tony Clifford, Angela Covic, Tai Danmola, Laney Doyle, Peter Gittens, Paul Hebditch, Guy
Jones, Steinar Kvifte, Michiel van der Lof, James Luke, Keri Madden, Fernando Marticorena, John Offenbacher,
John O’Grady, Christiana Panayidou, Pierre Phan van phi, George Prieksaitis, Gerard van Santen, Nicola

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 Sawaki, Alison Spivey, Leo van der Tas, Meredith Taylor, Hans van der Veen, Arne Weber, Clare Wong and
Luci Wright.

Our thanks also go to everyone who directly or indirectly contributed to the book’s creation, including the
following members of the Financial Reporting Group in the UK: Denise Brand, Lennart Hoogerwaard, Ayesha
Moosa and Mqondisi Ndlovu.

We also thank Jeremy Gugenheim for his assistance with the production technology throughout the period of
writing.

London, Jeremy Barnes Dennis Esterhuizen Amanda Marrion

October 2019 Martin Beyersdorff Diego Fernandez Emily Moll

Mike Bonham Archie Groenewald Richard Moore

David Bradbery Prahalad Halgeri Tina Patel

Linzi Carr Anja Hjelström Michael Pratt

Rob Carrington Jane Hurworth Tim Rogerson

Jessica Cayadi Ted Jones Enrico Rullan

Victor Chan Parbin Khatun Vadim Shelaginov

Wei Li Chan Maria Kingston Anna Sirocka

Larissa Connor Bernd Kremp Kirsty Smith

Pieter Dekker Dean Lockhart David Stolker

Tim Denton Sharon MacIntyre Michael Varila

Dennis Deysel Takahiro Makino Tracey Waring

Lists of chapters

Volume 1

1 International GAAP

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 2 The IASB’s Conceptual Framework

3 Presentation of financial statements and accounting policies

4 Non-current assets held for sale and discontinued operations

5 First-time adoption

6 Consolidated financial statements

7 Consolidation procedures and non-controlling interests

8 Separate and individual financial statements

9 Business combinations

10 Business combinations under common control

11 Investments in associates and joint ventures

12 Joint arrangements

13 Disclosure of interests in other entities

14 Fair value measurement

15 Foreign exchange

16 Hyperinflation

17 Intangible assets

18 Property, plant and equipment

19 Investment property

20 Impairment of fixed assets and goodwill

21 Capitalisation of borrowing costs

22 Inventories

Volume 2

23 Leases

24 Government grants

25 Service concession arrangements

26 Provisions, contingent liabilities and contingent assets

27 Revenue: Introduction and scope

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 28 Revenue: Identify the contract and performance obligations

29 Revenue: Determine and allocate the transaction price

30 Revenue: Recognition

31 Revenue: Licences, warranties and contract costs

32 Revenue: Presentation and disclosure

33 Income taxes

34 Share-based payment

35 Employee benefits

36 Operating segments

37 Earnings per share

38 Events after the reporting period

39 Related party disclosures

40 Statement of cash flows

41 Interim financial reporting

42 Agriculture

43 Extractive industries

Volume 3

44 Financial instruments: Introduction

45 Financial instruments: Definitions and scope

46 Financial instruments: Derivatives and embedded derivatives

47 Financial instruments: Financial liabilities and equity

48 Financial instruments: Classification

49 Financial instruments: Recognition and initial measurement

50 Financial instruments: Subsequent measurement

51 Financial instruments: Impairment

52 Financial instruments: Derecognition

53 Financial instruments: Hedge accounting

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 54 Financial instruments: Presentation and disclosure

55 Insurance contracts (IFRS 4)

56 Insurance contracts (IFRS 17)

Abbreviations

The following abbreviations are used in this book:

Professional and regulatory bodies:

AASB Australian Accounting Standards Board

AcSB Accounting Standards Board of Canada

AICPA American Institute of Certified Public Accountants

AOSSG Asian-Oceanian Standard-Setters Group

APB Accounting Principles Board (of the AICPA, predecessor of the FASB)

ARC Accounting Regulatory Committee of representatives of EU Member States

ASAF Accounting Standards Advisory Forum

ASB Accounting Standards Board in the UK

ASBJ Accounting Standards Board of Japan

ASU Accounting Standards Update

CASC China Accounting Standards Committee

CESR Committee of European Securities Regulators, an independent committee whose members

comprised senior representatives from EU securities regulators (replaced by ESMA)

CICA Canadian Institute of Chartered Accountants

EC European Commission

ECB European Central Bank

ECOFIN The Economic and Financial Affairs Council

EDTF Enhanced Disclosure Task Force of the (FSB)

EFRAG European Financial Reporting Advisory Group

EITF Emerging Issues Task Force in the US

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 EPRA European Public Real Estate Association

ESMA European Securities and Markets Authority (see CESR)

EU European Union

FAF Financial Accounting Foundation

FASB Financial Accounting Standards Board in the US

FCAG Financial Crisis Advisory Group

FEE Federation of European Accountants

FSB Financial Stability Board (successor to the FSF)

FSF Financial Stability Forum

G4+1 The (now disbanded) group of four plus 1, actually with six members, that comprised an informal
‘think tank’ of staff from the standard setters from Australia, Canada, New Zealand, UK, and
USA, plus the IASC

G7 The Group of Seven Finance Ministers (successor to G8)

G8 The Group of Eight Finance Ministers

G20 The Group of Twenty Finance Ministers and Central Bank Governors

GPPC Global Public Policy Committee of the six largest accounting networks

HKICPA Hong Kong Institute of Certified Public Accountants

ICAI Institute of Chartered Accountants of India

IASB International Accounting Standards Board

IASC International Accounting Standards Committee. The former Board of the IASC was the
predecessor of the IASB

IASCF International Accounting Standards Committee Foundation (predecessor of the IFRS

Foundation)

ICAEW Institute of Chartered Accountants in England and Wales

ICAS Institute of Chartered Accountants of Scotland

IFAC International Federation of Accountants

IFASS International Forum of Accounting Standard Setters

IFRIC The IFRS Interpretations Committee (formerly the International Financial Reporting
Interpretations Committee) of the IASB

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 IGC Implementation Guidance Committee on IAS 39 (now disbanded)

IOSCO International Organisation of Securities Commissions

IPSASB International Public Sector Accounting Standards Board

IPTF International Practices Task Force (a task force of the SEC Regulations Committee)

ISDA International Swaps and Derivatives Association

IVSC International Valuation Standards Council

KASB Korea Accounting Standards Board

RICS Royal Institution of Chartered Surveyors

SAC Standards Advisory Council, predecessor of the IFRS Advisory Council which provides advice to
the IASB on a wide range of issues

SEC Securities and Exchange Commission (the US securities regulator)

SIC Standing Interpretations Committee of the IASC (replaced by IFRIC)

TEG Technical Expert Group, an advisor to the European Commission

TRG Joint Transition Resource Group for Revenue Recognition

Accounting related terms:

ADS American Depositary Shares

AFS Available-for-sale investment

ARB Accounting Research Bulletins (issued by the AICPA)

ARS Accounting Research Studies (issued by the APB)

ASC Accounting Standards Codification®. The single source of authoritative US GAAP recognised by
the FASB, to be applied to non-governmental entities for interim and accounting periods ending
after 15 September 2009

ASU Accounting Standards Update

BCUCC Business Combinations Under Common Control

CCIRS Cross Currency Interest Rate Swap

CDO Collateralised Debt Obligation

CF Conceptual Framework

CGU Cash-generating Unit

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 CU Currency Unit

DD&A Depreciation, Depletion and Amortisation

DPF Discretionary Participation Feature

E&E Exploration and Evaluation

EBIT Earnings Before Interest and Taxes

EBITDA Earnings Before Interest, Taxes, Depreciation and Amortisation

EIR Effective Interest Rate

EPS Earnings per Share

FAS Financial Accounting Standards (issued by the FASB). Superseded by Accounting Standards
Codification® (ASC)

FC Foreign currency

FICE Financial Instruments with the Characteristics of Equity

FIFO First-In, First-Out basis of valuation

FRS Financial Reporting Standard (issued by the ASB)

FTA First-time Adoption

FVLCD Fair value less costs of disposal

FVLCS Fair value less costs to sell (following the issue of IFRS 13, generally replaced by FVLCD)

FVPL Fair value through profit and loss

FVOCI Fair value through other comprehensive income

GAAP Generally accepted accounting practice (as it applies under IFRS), or generally accepted
accounting principles (as it applies to the US)

HTM Held-to-maturity investment

IAS International Accounting Standard (issued by the former board of the IASC)

IBNR Incurred but not reported claims

IFRS International Financial Reporting Standard (issued by the IASB)

IGC Q&A Implementation guidance to the original version of IAS 39 (issued by the IGC)

IPO Initial Public Offering

IPR&D In-process Research and Development

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 IPSAS International Public Sector Accounting Standard

IRR Internal Rate of Return

IRS Interest Rate Swap

JA Joint Arrangement

JCA Jointly Controlled Asset

JCE Jointly Controlled Entity

JCO Jointly Controlled Operation

JO Joint Operation

JV Joint Venture

LAT Liability Adequacy Test

LC Local Currency

LIBOR London Inter Bank Offered Rate

LIFO Last-In, First-Out basis of valuation

NCI Non-controlling Interest

NBV Net Book Value

NPV Net Present Value

NRV Net Realisable Value

OCI Other Comprehensive Income

PP&E Property, Plant and Equipment

R&D Research and Development

SCA Service Concession Arrangement

SE Structured Entity

SFAC Statement of Financial Accounting Concepts (issued by the FASB as part of its conceptual
framework project)

SFAS Statement of Financial Accounting Standards (issued by the FASB). Superseded by Accounting
Standards Codification® (ASC)

SME Small or medium-sized entity

SPE Special Purpose Entity

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 SV Separate Vehicle

TSR Total Shareholder Return

VIU Value In Use

WACC Weighted Average Cost of Capital

References to IFRSs, IASs, Interpretations and supporting documentation:

AG Application Guidance

AV Alternative View

BCZ Basis for Conclusions on IASs

BC Basis for Conclusions on IFRSs and IASs

DI Draft Interpretation

DO Dissenting Opinion

DP Discussion Paper

ED Exposure Draft

IE Illustrative Examples on IFRSs and IASs

IG Implementation Guidance

IN Introduction to IFRSs and IASs

PIR Post-implementation Review

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 Authoritative literature

The content of this book takes into account all accounting standards and other relevant rules issued up to
September 2019. Consequently, it covers the IASB’s Conceptual Framework for Financial Reporting and
authoritative literature listed below.

References in the main text of each chapter to the pronouncements below are generally to the versions of those
pronouncements as approved and expected to be included in the Blue Book edition of the Bound Volume 2020
International Financial Reporting Standards – IFRS – Consolidated without early application – Official
pronouncements applicable on 1 January 2020, to be published by the IASB.

References to those pronouncements below which have an effective date after 1 January 2020 (such as
IFRS 17 – Insurance contracts) are to the versions of those pronouncements as denoted by the ISBN references
noted below. These are expected to be included in the Red Book edition of the Bound Volume 2020 International
Financial Reporting Standards – IFRS – Official pronouncements issued at 1 January 2020, to be published by
the IASB.

US GAAP accounting standards are organised within a comprehensive FASB Accounting Standards
Codification®, which is now the single source of authoritative US GAAP recognised by the FASB to be applied to
non-governmental entities and has been applied in this publication.

† The standards and interpretations marked with a dagger have been withdrawn or superseded.

IASB Framework

The Conceptual Framework for Financial Reporting

International Financial Reporting Standards (2020 Bound Volume)

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 IFRS 1 First-time Adoption of International Financial Reporting Standards

IFRS 2 Share-based Payment

IFRS 3 Business Combinations

† IFRS 4 Insurance Contracts

IFRS 5 Non-current Assets Held for Sale and Discontinued Operations

IFRS 6 Exploration for and Evaluation of Mineral Resources

IFRS 7 Financial Instruments: Disclosures

IFRS 8 Operating Segments

IFRS 9 Financial Instruments

IFRS 10 Consolidated Financial Statements

IFRS 11 Joint Arrangements

IFRS 12 Disclosure of Interests in Other Entities

IFRS 13 Fair Value Measurement

IFRS 14 Regulatory Deferral Accounts

IFRS 15 Revenue from Contracts with Customers

IFRS 16 Leases

International Financial Reporting Standards (mandatory after 1 January 2020)

IFRS 17 Insurance Contracts

International Accounting Standards (2020 Bound Volume)

IAS 1 Presentation of Financial Statements

IAS 2 Inventories

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 IAS 7 Statement of Cash Flows

IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors

IAS 10 Events after the Reporting Period

IAS 12 Income Taxes

IAS 16 Property, Plant and Equipment

IAS 19 Employee Benefits

IAS 20 Accounting for Government Grants and Disclosure of Government Assistance

IAS 21 The Effects of Changes in Foreign Exchange Rates

IAS 23 Borrowing Costs

IAS 24 Related Party Disclosures

IAS 26 Accounting and Reporting by Retirement Benefit Plans

IAS 27 Separate Financial Statements

IAS 28 Investments in Associates and Joint Ventures

IAS 29 Financial Reporting in Hyperinflationary Economies

IAS 32 Financial Instruments: Presentation

IAS 33 Earnings per Share

IAS 34 Interim Financial Reporting

IAS 36 Impairment of Assets

IAS 37 Provisions, Contingent Liabilities and Contingent Assets

IAS 38 Intangible Assets

IAS 39 Financial Instruments: Recognition and Measurement

IAS 40 Investment Property

IAS 41 Agriculture

IFRS Interpretations Committee Interpretations

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 IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities

IFRIC 2 Members’ Shares in Co-operative Entities and Similar Instruments

IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental

Rehabilitation Funds

IFRIC 6 Liabilities arising from Participating in a Specific Market – Waste Electrical and Electronic
Equipment

IFRIC 7 Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary
Economies

IFRIC 10 Interim Financial Reporting and Impairment

IFRIC 12 Service Concession Arrangements

IFRIC 14 IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their
Interaction

IFRIC 16 Hedges of a Net Investment in a Foreign Operation

IFRIC 17 Distributions of Non-cash Assets to Owners

IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments

IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine

IFRIC 21 Levies

IFRIC 22 Foreign Currency Transactions and Advance Consideration

IFRIC 23 Uncertainty over Income Tax Treatments

Standing Interpretations Committee Interpretations

SIC-7 Introduction of the Euro

SIC-10 Government Assistance – No Specific Relation to Operating Activities

SIC-25 Income Taxes – Changes in the Tax Status of an Entity or its Shareholders

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 SIC-29 Service Concession Arrangements: Disclosures

SIC-32 Intangible Assets – Web Site Costs

IASB Exposure Drafts

ED/2015/1 Classification of Liabilities (Proposed amendments to IAS 1)

ED/2015/5 Remeasurement on a Plan Amendment, Curtailment or Settlement/Availability of a Refund

from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14)

ED/2017/4 Property, Plant and Equipment – Proceeds before Intended Use (Proposed amendments to
IAS 16)

ED/2017/5 Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8)

ED/2017/6 Definition of Material (Proposed amendments to IAS 1 and IAS 8)

ED/2018/1 Accounting Policy Changes (Proposed amendments to IAS 8)

ED/2018/2 Onerous Contracts – Cost of Fulfilling a Contract (Proposed amendments to IAS 37)

ED/2019/2 Annual Improvements to IFRS Standards 2018–2020

ED/2019/3 Reference to the Conceptual Framework (Proposed amendments to IFRS 3)

ED/2019/4 Amendments to IFRS 17

ED/2019/5 Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Proposed
amendments to IAS 12)

ED/2019/6 Disclosure of Accounting Policies (Proposed amendments to IAS 1 and IFRS Practice
Statement 2)

ED Proposed amendments to the IFRS Foundation Due Process Handbook

IASB Discussion Papers

DP/2014/1 Accounting for Dynamic Risk Management: a Portfolio Revaluation Approach to Macro

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 Hedging

DP/2014/2 Reporting the Financial Effects of Rate Regulation

DP/2017/1 Disclosure Initiative – Principles of Disclosure

DP/2018/1 Financial Instruments with Characteristics of Equity

Other IASB publications

IFRS for SMEs International Financial Reporting Standard (IFRS) for Small and Medium-sized Entities
(SMEs)

Practice Management Commentary

Statement 1

Practice Making Materiality Judgements

Statement 2

PTU/2018/1 IFRS Taxonomy 2018 – Common Practice (IFRS 13 Fair Value Measurement)

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