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17 Jan. 2017

Exposure Draft on improvements to Australian Accounting Standards

ED 276 Annual Improvements to Australian Accounting Standards 2015-2017 Cycle proposes amendments to AASB 112, AASB 123 and AASB 128.  The clarifications pertain to: 

  • income tax consequences of payments on financial instruments classified as equity
  • borrowing costs eligible for capitalisation
  • long-term interests in an associate or joint venture, where the equity method is not applied.

Comments to the AASB on ED 276 are required by 8 March 2017.