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  • Service: Audit, IFRS
  • Type: Business and industry issue
  • Date: 3/31/2014

First Impressions: Regulatory deferral accounts 

Accounting for rate-regulated activities has been hotly debated for many years, because – unlike guidance provided by some national accounting standard-setting bodies – IFRS has not previously contained specific accounting requirements for such activities. This long-awaited guidance will ease the transition to IFRS for entities subject to rate regulation by permitting first-time adopters to continue to account for regulatory deferral account balances using previous GAAP. This so-called ‘grandfathering approach’ is similar to the approach taken by the IASB for the insurance and extractive industries.
Regulatory deferral accounts
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