ANNEX
Annual Improvements to IFRS Standards
2014–2016 Cycle
Amendments to IFRS 1
IFRS 1 First-time Adoption of International Financial Reporting Standards
Paragraphs 39L and 39T are amended, paragraphs 39D, 39F and 39AA are deleted and paragraph 39AD is added.
EFFECTIVE DATE
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39D | [Deleted] ... |
39F | [Deleted] ... |
39L | IAS 19 Employee Benefits (as amended in June 2011) amended paragraph D1 and deleted paragraphs D10 and D11. An entity shall apply those amendments when it applies IAS 19 (as amended in June 2011). ... |
39T | Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27), issued in October 2012, amended paragraphs D16, D17 and Appendix C. An entity shall apply those amendments for annual periods beginning on or after 1 January 2014. Earlier application of Investment Entities is permitted. If an entity applies those amendments earlier it shall also apply all amendments included in Investment Entities at the same time. ... |
39AA | [Deleted] ... |
39AD | Annual Improvements to IFRS Standards 2014–2016 Cycle, issued in December 2016, amended paragraphs 39L and 39T and deleted paragraphs 39D, 39F, 39AA and E3–E7. An entity shall apply those amendments for annual periods beginning on or after 1 January 2018. |
In Appendix E, paragraphs E3–E7 and related headings are deleted.
APPENDIX E
Short-term exemptions from IFRSs
This appendix is an integral part of the IFRS.
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E3 | [Deleted] |
E4 | [Deleted] |
E4A | [Deleted] |
E5 | [Deleted] |
E6 | [Deleted] |
E7 | [Deleted] |
Amendments to IFRS 12
IFRS 12 Disclosure of Interests in Other Entities
Paragraph 5A is added.
SCOPE
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5A | Except as described in paragraph B17, the requirements in this IFRS apply to an entity's interests listed in paragraph 5 that are classified (or included in a disposal group that is classified) as held for sale or discontinued operations in accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. ... |
In Appendix B, paragraph B17 is amended.
SUMMARISED FINANCIAL INFORMATION FOR SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES (PARAGRAPHS 12 AND 21)
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B17 | When an entity's interest in a subsidiary, a joint venture or an associate (or a portion of its interest in a joint venture or an associate) is classified (or included in a disposal group that is classified) as held for sale in accordance with IFRS 5, the entity is not required to disclose summarised financial information for that subsidiary, joint venture or associate in accordance with paragraphs B10–B16. |
In Appendix C, paragraph C1D is added.
EFFECTIVE DATE AND TRANSITION
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C1D | Annual Improvements to IFRS Standards 2014–2016 Cycle, issued in December 2016, added paragraph 5A and amended paragraph B17. An entity shall apply those amendments retrospectively in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors for annual periods beginning on or after 1 January 2017. ... |
Amendments to IAS 28
IAS 28 Investments in Associates and Joint Ventures
Paragraphs 18 and 36A are amended and paragraph 45E is added.
Exemptions from applying the equity method
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18. | When an investment in an associate or a joint venture is held by, or is held indirectly through, an entity that is a venture capital organisation, or a mutual fund, unit trust and similar entities including investment-linked insurance funds, the entity may elect to measure that investments at fair value through profit or loss in accordance with IFRS 9. An entity shall make this election separately for each associate or joint venture, at initial recognition of the associate or joint venture. ... |
Equity method procedures
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36A | Notwithstanding the requirement in paragraph 36, if an entity that is not itself an investment entity has an interest in an associate or joint venture that is an investment entity, the entity may, when applying the equity method, elect to retain the fair value measurement applied by that investment entity associate or joint venture to the investment entity associate's or joint venture's interests in subsidiaries. This election is made separately for each investment entity associate or joint venture, at the later of the date on which (a) the investment entity associate or joint venture is initially recognised; (b) the associate or joint venture becomes an investment entity; and (c) the investment entity associate or joint venture first becomes a parent. ... |
EFFECTIVE DATE AND TRANSITION
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45E | Annual Improvements to IFRS Standards 2014–2016 Cycle, issued in December 2016, amended paragraphs 18 and 36A. An entity shall apply those amendments retrospectively in accordance with IAS 8 for annual periods beginning on or after 1 January 2018. Earlier application is permitted. If an entity applies those amendments for an earlier period, it shall disclose that fact. |