Introduction

In this Exposure Draft, the International Accounting Standards Board (Board) proposes to amend IAS 16 Property, Plant and Equipment. The amendments would prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity would recognise those sales proceeds in profit or loss.

Invitation to comment

ASB invites comments on the Exposure Draft from the public. The downloadable version is available at: https://resource.cdn.icai.org/45787asb35929.pdf

How to comment

Comments should be submitted using one of the following methods, so as to be received not later than August 31, 2017.