Last Updated on 12/02/2020 by 75385885
IFRS 14 Objective Scope
1 The objective of this Standard is to specify the financial reporting requirements for regulatory deferral account balances that arise when an entity provides goods or services to customers at a price or rate that is subject to rate regulation.
2 In meeting this objective, the Standard requires:
- limited changes to the accounting policies that were applied in accordance with previous generally accepted accounting principles (previous GAAP) for regulatory deferral account balances, which are primarily related to the presentation of these accounts; and
- disclosures that:
- identify and explain the amounts recognised in the entity’s financial statements that arise from rate regulation; and
- help users of the