United States

In the Headlines: Transfer of Assets between an Investor and its Associate or JV

Sep 22, 2014
From the Financial Reporting View and the IFRS Institute

In the Headlines 14-17 summarizes the IASB’s recent narrow-scope amendment, Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and IAS 28), which requires full gain recognition when the assets transferred to an associate or joint venture on loss of control meet the definition of a business under IFRS 3, Business Combinations. The amendment is effective for an entity that applies IFRS for annual periods beginning on or after January 1, 2016, and will be applied prospectively. Early application is permitted.

Read In the Headlines 14-17