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Saturday 25 October 2014

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Rate-regulated Activites

Rate-regulated Activities


 Rate-regulated Activites

 

Project Status



Rate Regulation (reseach project)

Previous project

In July 2009, the IASB published for public comment the Exposure Draft (ED) Rate-regulated Activities. After reviewing the responses to that ED, the IASB decided that it could not resolve, in a timely manner, the complex, fundamental issues involved. The IASB suspended the project in September 2010.

As a result of the views received from its 2011 Agenda Consultation, the IASB, in September 2012, initiated a revised Rate-regulated Activities research project.

Current project

The IASB has published the Discussion Paper Reporting the Financial Effects of Rate Regulation as part of its active research programme. The Discussion Paper considers the common features of rate regulation and explores which of them, if any, create a combination of rights and obligations distinguishable from the rights and obligations arising from activities that are not rate-regulated. The Discussion Paper does not include specific accounting proposals. Instead, it explores several possible approaches that the IASB could consider when deciding how best to report the financial effects of a defined type of rate regulation.

Interim IFRS

In December 2012, the IASB decided to develop an interim Standard to provide short-term guidance for first-time adopters of IFRS until the research project is completed. IFRS 14 Regulatory Deferral Accounts was issued in January 2014 and is effective for annual reporting periods beginning on or after 1 January 2016. Early application is permitted.