Exposure Draft and comment letters—Government Loans (proposed amendments to IFRS 1)

 

On 20 October 2011 the International Accounting Standards Board (IASB) published for public comment a proposed amendment to IFRS 1 First-time Adoption of International Financial Reporting Standards.

The proposed amendment sets out how a first-time adopter would account for a government loan with a below-market rate of interest when they transition to IFRSs.

If adopted, this amendment would provide the same relief to first-time adopters as is granted to existing preparers of IFRS financial statements when applying IAS 20 Accounting for Government Grants and Disclosure of Government Assistance.

The exposure draft, Government Loans (Proposed amendments to IFRS 1), was open for comment until 5 January 2012.

 

Comment letters are public and all comment letters received on the due process document can be accessed below.

If you have trouble finding a specific comment letter, please contact us.

Access individual comment letters in the table below or download all letters as zip file.

ID Submitter

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