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Friday 31 October 2014

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Meeting summaries and observer notes


 May-06


 

At its meeting in March 2006, the Board added to its technical agenda a project to resolve issues relating to accounting for a subsidiary in the separate financial statements of a parent on first-time adoption of IFRSs.

At this meeting, the Board discussed potential amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards relating to relief from determining cost in accordance with IAS 27 Consolidated and Separate Financial Statements on transition to IFRSs.

The Board instructed the staff to analyse the possibility of amending the definition of cost in IAS 27. No decisions were made.

Date: 5/25/2006