Annual Improvements 2015-2017

Learning objectives

• Identify the effective date (1 January 2019) and the prospective application of the 2015-2017 amendment (paras. 28A and 29D).L3

Normative references

• IAS 23 §28ATransition for the amendment to para. 14 (Annual Improvements 2015-2017, December 2017): it applies to borrowing costs incurred on or after the beginning of the annual reporting period in which the entity first applies it, without restating prior amounts.
• IAS 23 §29DEffective date of the Annual Improvements 2015-2017 (para. 14 amended, para. 28A added): annual periods beginning on or after 1 January 2019; earlier application is permitted, with disclosure.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• What is the scope of the 2015-2017 annual improvements on the calculation of the capitalisation rate, and how do they apply?L3