{"id":273,"date":"2017-10-13T10:45:14","date_gmt":"2017-10-13T02:45:14","guid":{"rendered":"http:\/\/ehluar.com\/main\/?p=273"},"modified":"2017-10-13T10:51:36","modified_gmt":"2017-10-13T02:51:36","slug":"narrow-scope-amendments-to-ifrs-9-and-ias-28","status":"publish","type":"post","link":"http:\/\/ehluar.com\/main\/2017\/10\/13\/narrow-scope-amendments-to-ifrs-9-and-ias-28\/","title":{"rendered":"Narrow-scope amendments to IFRS 9 and IAS 28"},"content":{"rendered":"<p>The International Accounting Standards Board (IASB) has issued narrow-scope amendments <strong>Prepayment Features with Negative Compensation (Amendments to IFRS 9) <\/strong>and to <strong>Long-term Interests in Associates<\/strong><br \/>\n<strong>and Joint Ventures (Amendments to IAS 28) <\/strong>to aid implementation.<\/p>\n<p>The Amendments to the IFRS 9 allow companies to measure prepayment features financial assets with negative compensation at amortised cost or at fair value through other comprehensive income if a specified condition is met, instead of at fair value through profit or loss.<\/p>\n<p>The Amendments to IAS 28 clarify that companies account for long-term interests in an associate or joint venture, to which the equity method is not applied, using IFRS 9.<\/p>\n<p>The IASB has also published <strong><em>Illustrative Example &#8211; Long-term Interests in Associates and Joint Ventures <\/em><\/strong>that illustrates how companies apply the requirements in IFRS 9 and IAS 28 to long-term interests in an associate or joint venture.<\/p>\n<p>The IASB has also publish the <strong>Proposed IFRS Taxonomy Update &#8211; <em>Prepayment Features with Negative Compensation<\/em><\/strong> for comments by 11 December 2017 to reflect the new presentation and disclosure requirements introduced by the amendments to IFRS 9.<\/p>\n<p>The following documents can be download from IFRS website:<\/p>\n<ol>\n<li><em>Prepayment Features with Negative Compensation <\/em><u>(Amendments to IFRS 9)<\/u>;<\/li>\n<li><em>Long-term Interests in Associates and Joint Ventures <\/em><u>(Amendments to IAS 28)<\/u>;<\/li>\n<li><u>Illustrative Example<\/u><em> Long-term Interests in Associates and Joint Ventures<\/em>; and<\/li>\n<li><u>Proposed IFRS Taxonomy Update<\/u><em> Prepayment Features with Negative Compensation<\/em>.<\/li>\n<\/ol>\n<p>Source: <em>IFRS<\/em>, 12 October 2017<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The International Accounting Standards Board (IASB) has issued narrow-scope amendments Prepayment Features with Negative Compensation (Amendments to IFRS 9) and to Long-term Interests in Associates and Joint Ventures (Amendments to IAS 28) to aid implementation. The Amendments to the IFRS 9 allow companies to measure prepayment features financial assets with negative compensation at amortised cost [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7,6],"tags":[],"class_list":["post-273","post","type-post","status-publish","format-standard","hentry","category-accounting","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/comments?post=273"}],"version-history":[{"count":3,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/273\/revisions"}],"predecessor-version":[{"id":276,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/273\/revisions\/276"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=273"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}