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 Aletta Boshoff at [email protected].

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Proposals

Comments due to AASB by

Comments due to IASB by

ED 305 Lease Liability in a Sale and Leaseback

When the transfer of an asset by the seller-lessee satisfies the requirements for a sale of an asset under IFRS 15, the ED proposes additional guidance for:

  • Initially recognising the right-of-use asset and lease liability, and
  • Subsequently measuring the right-of-use asset and lease liability.

21 February 2021

29 March 2021

ED 308 Covid-19 Related Rent Concession beyond 30 June 2021

Proposes allowing entities to use the practical expedient in paragraph 46A of IFRS 16 for COVID-19-related rent concessions where a reduction in lease payments affects payments due or before 30 June 2022, rather than 30 June 2021.

22 February 2021

25 February 2021

ED 307 Regulatory Assets and Regulatory Liabilities

Proposes requirements for recognition and measurement of regulatory assets and regulatory liabilities, including the recognition of regulatory income and expense in profit or loss.
If finalised, this will replace AASB 14 Regulatory Deferral Accounts which permits a variety of accounting approaches.

10 May 2021

30 June 2021

ITC 42 Business Combinations under Common Control

Proposes to reduce diversity in practice when accounting for business combinations under common control by the receiving company.

17 July 2021

1 September 2021

 

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