New IASB pronouncements and amendments
The International Accounting Standards Board (IASB) has recently issued the following documents:
• Reclassification of Financial Assets-Effective Date and Transition (Amendments to IAS 39 Financial Instruments: Recognition and Measurement and IFRS 7 Financial Instruments: Disclosures)
• a revised version of IFRS 1 First-time Adoption of International Financial Reporting Standards
• IFRIC Interpretation 17 Distributions of Non-cash Assets to Owners.
The pronouncements are available from the IASB’s website. Please note that some documents are only available to eIFRS subscribers. The Australian Accounting Standards Board (AASB) is expected to consider and adopt the above documents shortly. More information will be made available via the AASB website.