IASB publish Exposure Draft for Annual Improvements to IFRSs (Volume 11)

Today, the IASB have published the Exposure Draft Annual Improvements to IFRS Accounting Standards (Volume 11). This publication commences the IASB’s consultation process for a new cycle of annual improvements to IFRSs. The Exposure Draft proposes minor amendments to IFRS 1, IFRS 7, IFRS 9, IFRS 10 und IAS 7, affecting the following issues:

• IFRS 1 – Hedge Accounting by a First-time Adopter;
• IFRS 7 – Gain or Loss on Derecognition;
• IFRS 7 – Credit Risk Disclosures;
• IFRS 7 – Disclosure of Deferred Difference between Fair Value and Transaction Price;
• IFRS 9 – Transaction Price;
• IFRS 9 – Lessee Derecognition of Lease Liabilities;
• IFRS 10 – Determination of a „de facto agent;
• IAS 7 – Cost Method.

Comments are requested by 11 December 2023. Further information are available from the IASB project website.