Effective date [The boards subsequently deferred the effective date of IFRS 15 and Topic 606 by one year. See paragraphs BC453A-BC453H.]
BC446 In the 2011 Exposure Draft, the boards indicated that the effective date of IFRS 15 would be set to ensure that the start of the earliest comparative period for an entity that is required to present two comparative annual periods (in addition to the current annual period) would be after the final requirements are issued. The boards developed this approach in response to feedback obtained from interested parties through a number of activities, including:
(a) the IASB's Request for Views on Effective Dates and Transition Methods and the FASB's Discussion Paper Effective Dates and Transition Methods (October 2010);
(b) the boards' joint investor outreach questionnaire (April 2011); and
(c) consultation with systems providers and preparers in 2010 and 2011.
BC447 On the basis of that proposed formula for setting an effective date a
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