On 12 December 2013, the International Accounting Standards Board issued Annual Improvements to IFRSs 2010—2012 Cycle. The amendments have an effective date of 1 July 2014, but earlier adoption is permitted.
About
The IASB identified the need to clarify the definition of 'vesting condition' in IFRS 2 to ensure the consistent classification of conditions attached to a share-based payment. Previously, this IFRS did not separately define a 'performance condition' or a 'service condition', but instead describes both concepts within the definition of 'vesting condition'.
The IASB decided to separate the definitions of a 'performance condition' and a 'service condition' from the definition of a 'vesting condition' and thus make the description of each condition clearer.
