IFRS

IASB issues four narrow scope amendments to IFRS Standards

The International Accounting Standards Board (IASB) has issued a collection of narrow scope amendments to IFRS Standards. The collection includes amendments to three Standards as well as Annual Improvements to IFRS Standards, which addresses non non-urgent (but necessary) minor amendments to four standards.

The Amendments issued are as follows:

  • Reference to the Conceptual Framework (Amendments to IFRS 3)
  • Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16)
  • Onerous Contracts Contracts—Cost of Fulfilling a Contract (Amendments to IAS 37)
  • Annual Improvements to IFRS Standards 2018 2018-2020 cycle