BC28 The IFRIC considered whether the Interpretation should include disclosure guidance and agreed that it was largely unnecessary because IAS 16 and IAS 37 contain relevant guidance, for example:

(a) IAS 16 explains that IAS 8 requires the disclosure of the nature and effect of changes in accounting estimates that have an effect in the current period or are expected to have a material effect in subsequent periods, and that such disclosure may arise from changes in the estimated costs of dismantling, removing or restoring items of property, plant and equipment.

(b) IAS 37 requires the disclosure of:

(i) a reconciliation of the movements in the carrying amount of the provision for the period.

(ii) the increase during the period in the discounted amount arising from the passage of time and the effect of any change in the discount rate.

(iii) a brief description of the nature of the obligation and the expected timing of any resulting outflows of economic benefits.

(iv) an indication of the uncertainties about the amount or timing of those outflows, and where necessary the disclosure of the major assumptions made concerning future events (eg future interest rates, future changes in salaries, and future changes in prices).