Comments sought on exposure drafts

At BDO, we provide comments locally to the Australian Accounting Standards Board (AASB) and internationally to the International Accounting Standards Board (IASB). We welcome any client comments on exposure drafts that are currently available for comment. If you would like to provide any comments please contact Wayne Basford at wayne.basford@bdo.com.au.

Document Proposals Comments due to AASB by Comments due to IASB by

ED 276 Annual Improvements to Australian Accounting Standards 2015-2017 Cycle

Proposes amendments the following Accounting Standards:

  • AASB 112 Income Taxes - to clarify the accounting for the tax consequence on dividends
  • AASB 123 Borrowing Costs - to clarify the determination of the general borrowings pool for capitalisation of borrowing costs
  • AASB 128 Investments in Associates and Joint Ventures - to clarify that loans to associates and joint ventures considered part of the net investment are still subject to impairment testing under AASB 9.

8 March 2017

12 April 2017

ED 277 Reduced Disclosure Requirements for Tier 2 Entities

Proposes:

  • A new set of principles used to determine Tier 2 RDR disclosures
  • Updated RDR disclosures as a result of applying these updated principles, and
  • A new approach to presenting RDR disclosures – as an appendix rather than as ‘greyed out’ text in the body of the accounting standards.

No changes are proposed to the types of entities able to report using RDR.

26 May 2017

N/A