Skip to content (Press enter)
Show Sections

Applicability of the Offsetting Amendments to IFRS 7 to Condensed Interim Financial Statements (Amendments to IFRS 7)

Final stage

On 25 September 2014, the International Accounting Standards Board issued Annual Improvements to IFRSs 2012–2014 Cycle. The revised standards have an effective date of 1 January 2016, but earlier adoption is permitted.

About the project

The Board was asked to clarify the applicability of Disclosures–Offsetting Financial Assets and Financial Liabilities (Amendments to IFRS 7), issued in December 2011, to condensed interim financial statements. It was specifically asked to clarify the meaning of the reference to ‘interim periods within those annual periods’.