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1906/37213 April 14, 2015 International Accounting Standards

   

Added on  2023-03-17

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1906/37213
April 14, 2015
International Accounting Standards Board
30 Cannon Street
London EC4M6XH
United Kingdom
Dear Sir/Madam,
Re: Exposure Draft – Classification of Liabilities (proposed amendments to
IAS 1)
We appreciate the opportunity to respond to the Exposure Draft "Classification of
Liabilities (proposed amendments to IAS 1)" issued by the International Accounting
Standards Board (IASB). This response represents the views of the Institute of Certified
Public Accountants in Israel.
Question 2
The IASB proposes making clear the link between the settlement of the liability and
the outflow of resources from the entity by adding 'by the transfer to the counterparty
of cash, equity instruments, other assets or services' to paragraph 69 of the Standard.
Do you agree with that proposal? Why or why not?
Response
We believe that the proposed clarification may result in an apparent contradiction
between:
(1) the proposed additional paragraph, which states that a transfer of equity
instruments to the counterparty that results in the extinguishment of the liability
is considered a settlement of a liability for the purposes of classification as
current or non-current; and
1906/37213 April 14, 2015 International Accounting Standards_1

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