21. August 2017
ASCG comment letter on the IASB’s ED/2017/4
Today, the ASCG submitted its comment letter on the ED/2017/4 Proceeds before Intended Use (Proposed Amendments to IAS 16) (see our prior news item) to the IASB. A similar comment letter has also been submitted to EFRAG.
Our Committee is unsure about the proposed deletion of the principle of deducting proceeds from costs, as it seems to be aimed at solving a particular issue for specific industries only whilst having worked reasonably well in most others. However, if this principle of deduction were retained, some details would deserve clarification.