BC99-BC105
BC99 The following paragraphs describe the Board’s analysis of the likely effects that will result from the amendments to the requirements for the accounting for bearer plants.
BC100 The Board is committed to assessing and sharing knowledge about the likely costs of implementing new requirements, and the likely ongoing application costs and benefits of each new or revised Standard - the costs and benefits are collectively referred to as ‘effects’.
BC101 The Board gains insight on the likely effects of the proposals for new or revised Standards through its formal exposure of proposals and through its fieldwork, analysis and consultations with relevant parties through outreach activities. The likely effects are assessed:
(a) in the light of the Board’s objective of financial reporting transparency; and
(b) in comparison to the existing financial reporting requirements.
BC102 In evaluating the likely effects of the amendments, the Board has considered the following issues (see paragraphs BC106–BC117):
(a) how the changes are likely to affect how bearer plants are reported in the financial statements of those applying IFRS;
(b) whether those changes improve the comparability of financial statements between different reporting periods for an individual entity and between different entities in a particular reporting period;