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 for comment. If you would like to provide any comments, please contact Aletta Boshoff at aletta.boshoff@bdo.com.au.

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Proposals

Comments due to AASB by

Comments due to IASB by

ED 317 Supplier Finance Arrangements - Proposed amendments to AASB 107 and AASB 7

Proposes to describe the characteristics of a ‘supplier finance arrangement’ in AASB 107.

Also proposes additional disclosures for AASB 107 Statement of Cash Flows and AASB 7 Financial Instruments: Disclosures.

No longer open for comments

28 March 2022

ED 319 Insurance in Contracts in the Public Sector

Proposes amendments to AASB 17 for public sector entities as follows:

  • Exemption from sub-grouping onerous versus non-onerous contracts at initial recognition
  • Exemption from sub-grouping contracts issued no more than one year apart
  • Amending the initial recognition requirements so they do not depend on when contracts become onerous
  • Guidance on coverage periods, which has consequences for assessing eligibility for the premium allocation approach in a public sector context
  • Provides indicators for identifying the transactions AASB 17 should apply to in a public sector context
  • Provides guidance on determining the cash flows within the contract boundary.

8 June 2022

N/A