The Institute of Chartered Accountants of India
(Setup by an Act of Parliament)
(Setup by an Act of Parliament)
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.
How to comment
Comments should be submitted using one of the following methods, so as to be received not later than August 31, 2017.
Further clarifications on this Exposure Draft may be sought by e-mail to asb@icai.in
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1.Electronically: |
Click on "Submit a comment letter" below (Preferred method):
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2.Email: |
Comments can be sent to: commentsasb@icai.in |
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3.Postal: |
Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110 002 |
Further clarifications on this Exposure Draft may be sought by e-mail to asb@icai.in
The Exposure Draft is open for comment until 31st August, 2017
| Due process documents |
| Property Plant and Equipment - Proceeds before Intended Use (Proposed amendments to IAS 16) [PDF] |