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10
New standards, amendments and interpretations:
Obligatory
application in
annual reporting
periods beginning
on or after:
Approved for use in the European Union
IFRIC 21, Levies (issued in May 2013)
This interpretation addresses the accounting for a liability to
pay a levy that is triggered by an entity undertaking an
activity on a specified date.
17 June 2014 (1)
New standards not yet approved for use in the European Union at the date of publication of this document
IFRS 9, Financial Instruments (last phase
issued in July 2014)
Replaces the requirements in IAS 39 relating to the
classification, measurement, recognition and derecognition of
financial assets and financial liabilities, hedge accounting and
impairment.
1 January 2018
IFRS 15, Revenue from Contracts with
Customers (issued in May 2014)
New revenue recognition standard (supersedes IAS 11, IAS
18, IFRIC 13, IFRIC 15, IFRIC 18 and SIC-31).
1 January 2017
Amendments and/or interpretations
Amendments to IAS 19 - Defined Benefit
Plans: Employee Contributions (issued in
November 2013)
The amendments were issued to allow employee contributions
to be deducted from the service cost in the same period in
which they are paid, provided certain requirements are met.
1 July 2014
Improvements to IFRSs, 2010-2012 cycle
and 2011-2013 cycle (issued in December
2013)
Minor amendments to a series of standards.
Amendments to IAS 16 and IAS 38 -
Clarification of Acceptable Methods of
Depreciation and Amortisation (issued in
May 2014)
Clarify the acceptable methods of depreciation and
amortisation of property, plant and equipment and intangible
assets.
Amendments to IFRS 11 - Accounting for
Acquisitions of Interests in Joint
Operations (issued in May 2014)
Provide guidance on the accounting for acquisitions of
interests in joint operations in which the activity constitutes a
business.
Improvements to IFRSs, 2012-2014 cycle
(issued in September 2014)
Minor amendments to a series of standards.
1 January 2016
Amendments to IFRS 10 and IAS 28 - Sale
or Contribution of Assets between an
Investor and its Associate or Joint Venture
(issued in September 2014)
Clarification in relation to the gain or loss resulting from such
transactions involving a business or assets.
Amendments to IAS 27 - Equity Method in
Separate Financial Statements (issued in
August 2014)
The amendments permit the use of the equity method in the
separate financial statements of an investor.
(1) The EU endorsed IFRIC 21 (EU Journal of 14 June 2014), changing the original effective date established by the IASB (1
January 2014) to 17 June 2014.
IFRIC 21, Levies