Comments sought on exposure drafts

At BDO, we provide comments locally to the Australian Accounting Standards Board (AASB) and internationally to the International Accounting Standards Board (IASB). We welcome any client comments on exposure drafts that are currently available.

If you would like to provide any comments, please contact Aletta Boshoff, Partner and National Leader, IFRS & Corporate Reporting and National Leader, ESG & Sustainability.

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Proposals

Comments due to AASB by

Comments due to IASB by

ED 330 Contracts for Renewable Electricity

Proposes amendments to AASB 9 Financial Instruments and AASB 7 Financial Instruments: Disclosures, including:

  • Clarifying how the ‘own use’ exemption in paragraph 2.4 of AASB 9 applies to contracts for renewable electricity (i.e. which contracts are within the scope of AASB 9 and which contracts are scoped out)
  • Permitting hedge accounting for certain contracts for renewable electricity within the scope of AASB 9 if criteria are met
  • Additional disclosures about contracts for renewable electricity and their effect on the timing and uncertainty of the entity’s future cash flows (disclosures apply regardless of whether these contracts are within the scope of AASB 9 or not).

Our article contains more information.

21 June 2024

7 August 2024

ED 329 Business Combinations - Disclosures, Goodwill and Impairment

Proposes :

  • Additional disclosures in AASB 3 Business Combinations about the strategic rationale, expected synergies and the actual performance of acquisitions (in the year of acquisition and thereafter)
  • Targeted amendments to the impairment test in AASB 136 Impairment of Assets to reduce shielding of goodwill from impairment write-downs and simplify the impairment test.

Our article contains more information.

3 May 2024

15 July 2024