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Thursday 24 April 2014

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IFRS 10 Consolidated Financial Statements and IFRS 11 Joint Arrangements—transitional provisions in respect of impairment, foreign exchange and borrowing costs


 Agenda decision

IFRS 10 Consolidated Financial Statements and IFRS 11 Joint Arrangements: Transitional provisions in respect of impairment, foreign exchange and borrowing costs

The issue relates to the transitional provisions of IFRS 10 Consolidated Financial Statements and IFRS 11 Joint Arrangements. The submitter thinks that retrospective application of IAS 21 The Effects of Changes in Foreign Exchange Rates, IAS 23 Borrowing Costs or IAS 36 Impairment of Assets could be problematic when first applying IFRS 10 and IFRS 11.

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