About
The IASB initiated this project to gather further input from stakeholders on how the Board should determine the effective dates and transition requirements of its major projects (revenue recognition, leases, insurance and financial instruments) in order to reduce the burden on affected parties. The US Financial Accounting Standards Board (FASB) conducted a similar consultation.
On 19 October 2010, the International Accounting Standards Board published Request for Views on Effective Dates and Transition Methods. In April 2011, the International Accounting Standards Board published the Effective Dates Survey.
As a result of these consultations, the IASB decided to permit early application of the new IFRSs by first-time adopters of IFRSs and to consider the issue of early application by other entities on a standard-by-standard basis.
Previous meeting
International Accounting Standards Board March 2013
