BC46 Some respondents to ED 8 expressed concern that entities were to be allowed not to give entity‑wide disclosures about products and services and geographical areas if '… the necessary information is not available and the cost to develop it would be excessive.' They argued that the test to be applied for non‑disclosure should be that of impracticability as defined in IAS 1 Presentation of Financial Statements. [In April 2024 the IASB issued IFRS 18 Presentation and Disclosure in Financial Statements which replaced IAS 1 Presentation of Financial Statements. IFRS 18 does not include a definition for ‘impracticable’. Paragraph 5 of IAS 8 Basis of Preparation of Financial Statements includes a definition.]
BC47 The Board noted that the wording in ED 8 ensures convergence with SFAS 131. Using the term 'impracticable' as defined in IAS 1 would change the requirement and create divergence from SFAS 131. Therefore, the Board decided to retain the wording of ED 8. [When it issued
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