United States

In the Headlines: Accounting for Rate-Regulated Activities - Interim Relief for First-Time Adopters

Feb 10, 2014
From the Financial Reporting View and the IFRS Institute

In the Headlines 14-01 summarizes IFRS 14, Regulatory Deferral Accounts, which allows first-time adopters of IFRS that are subject to rate regulation to continue to apply their existing accounting principles to regulatory deferral account balances while the IASB completes its comprehensive project on accounting for the effects of rate regulation. This interim standard is effective for financial reporting periods beginning on or after January 1, 2016. Early adoption is permitted.

In the Headlines: Accounting for Rate-Regulated Activities - Interim Relief for First-Time Adopters