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].

Document	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 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 IFRS 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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