2. Significant accounting policies (cont’d.)
2.3 Standards Issued But Not Yet Effective
The Group has not early adopted the following new and amended FRSs that are issued but not yet
effective:
Effective for annual period beginning on or after 1 January 2016
Amendments to FRS 10, FRS 12 Investment Entities: Applying the Consolidation Exception
and FRS 128
Amendments to FRS 11
Accounting for Acquisitions of Interests in Joint Operations
FRS 14
Regulatory Deferral Accounts
Amendments to FRS 101
Presentation of Financial Statements – Disclosure Initiative
Amendments to FRS 116 and Clarification of Acceptable Methods of Depreciation and Amortisation
FRS 138
Amendment to FRS 127
Equity Method in Separate Financial Statements
Annual Improvements 2012 -2014
Cycle
Effective for annual period beginning on or after 1 January 2018
FRS 9
Financial Instruments
Deferred
Amendments to FRS 10 and Sale or Contribution of Assets between an Investor and its Associates
FRS 128
or Joint Venture
Amendments to FRS 127: Equity Method in Separate Financial Statements
The amendments will allow entities to use the equity method to account for investments in subsidiaries,
joint ventures and associate in their separate financial statements. Entities already applying FRS and
electing to change to the equity method in its separate financial statements will have to apply this change
retrospectively. For first-time adopters of FRS electing to use the equity method in its separate financial
statements, they will be required to apply this method from the date of transition to FRS. The amendments
are effective for annual periods beginning on or after 1 January 2016, with early adoption permitted. These
amendments will not have any impact on the Group’s and the Company’s financial statements.
Amendments to FRS 101: Disclosure Initiatives
The amendments to FRS 101 include narrow-focus improvements in the following five areas:
- Materiality
- Disaggregation and subtotals
- Notes structure
- Disclosure of accounting policies
- Presentation of items of other comprehensive income arising from equity accounted investments
The Directors of the Company do not anticipate that the application of these amendments will have a
material impact on the Group’s and the Company’s financial statements.
n otes to th e f i nan c i a l statements
Bo ustead plantati o ns Berhad
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