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20 Nov. 2015

AASB issues ED 272 and ED 273

The AASB has released two Exposure Drafts: 1) ED 272 Transfers of Investment Property (Proposed amendments to AASB 140 Investment Property), which incorporates IASB ED/2015/9 Transfers of Investment Property (Proposed amendments to IAS 40 Investment Property) and 2) ED 273 Annual Improvements to IFRSs 2014-2016 Cycle, which incorporates IASB ED/2015/10 Annual Improvements to IFRSs 2014-2016 Cycle.

ED 272  proposes narrow-scope amendments to AASB 140 to clarify the guidance on transfers to, or from, investment properties. Comments on ED 272 are requested to the AASB by 15 February 2016 and to the IASB by 18 March 2016.

ED 273  covers proposed amendments to AASB 1 First-time Adoption of Australian Accounting Standards, AASB 12 Disclosure of Interests in Other Entities and AASB 128 Investments in Associates and Joint Ventures as result of the IASB's Annual Improvements project. Comments on ED 273 are requested to the AASB by 22 January 2016 and to the IASB by 17 February 2016.