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  • SIC-12 – Scope exemption for equity compensation benefits
    alone or involving mutual entities Business combinations Phase I Business combinations Phase II application of the purchase method Consolidation Comprehensive project Consolidation Investment entities IAS 27 Control by a fiduciary IAS 27 Non cash distributions IAS 28 Reflecting other net asset changes when applying the equity method of accounting IFRS 1 IAS 27 Cost of a subsidiary in separate financial statements IFRS 10 Transitional requirements IFRS 11 Acquisition of an interest in a joint operation Joint arrangements SIC 12 Scope exemption for equity compensation benefits IAS 27 Equity method in separate financial statements IFRS 10 IAS 28 Sales or contributions of assets between an investor and its associate joint venture IFRS 10 IAS 28 Investment entity amendments IAS 28 Elimination of gains arising from downstream transactions Info SIC 12 Scope exemption for equity compensation benefits Background The IFRIC was asked by the IASB to consider whether the scope exemption in SIC 12 Consolidation Special Purpose Entities for equity compensation plans should be removed when IFRS 2 Share based Payment becomes effective The scope exclusion in SIC 12 was included because equity compensation plans were within the scope of IAS 19 Employee Benefits However once IFRS 2 is applied IAS 19 would no longer apply to equity compensation plans Also IFRS 2 amended IAS 32 Financial Instruments Disclosure and Presentation to require treasury share accounting in relation to treasury shares purchased sold issued or cancelled in connection with share based payment arrangements However some arrangements may be structured through employee benefit trusts and removing the scope exclusion in SIC 12 would require an entity that controls such a trust to consolidate the trust and apply the requirements of IAS 32 to treasury shares held in the trust Current status of the project This project has been completed An amendment to Interpretation

    Original URL path: http://www.iasplus.com/en/projects/completed/consol/project109 (2016-02-10)
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  • Common control transactions
    of the research project on business combinations under common control The Board agreed with the Staff recommendations Research project Business combinations under common control status update 18 Sep 2013 The Board began outlining a plan for undertaking BCUCC one of its priority research projects IFRS 2 Timing of the recognition of intercompany recharges 14 May 2013 The Interpretations Committee received a request for clarification about IFRS 2 Share based Payment relating to intragroup recharges made in respect of share based payments specifically whether the subsidiary s liability to its parent in respect of these charges should be recognised from the date of grant of the award or at the date of exercise of the award in various circumstances IAS 28 and IFRS 3 Associates and common control 14 May 2013 The Interpretations Committee received a request seeking clarification of the accounting for an acquisition of an interest in an associate or joint venture from an entity under common control IFRS 2 Timing of recognition of intercompany recharges 22 Jan 2013 The IFRS Interpretations Committee considered a request for clarification relating to the accounting for intragroup recharges made in respect of share based transactions tentatively deciding not to add the item to its agenda IFRS 3 Business combinations under common control finalised 08 Sep 2011 The IFRS Interpretations Committee reconsidered and revised its earlier agenda decision on a request for guidance on a common control transaction undertaken in light of transactions such as an imminent initial public offering IPO IFRS 3 Business combinations involving newly formed entities business combinations under common control 08 Sep 2011 The Interpretations Committee received a request for guidance on accounting for common control transactions More specifically the submission describes a fact pattern that illustrates a type of common control transaction in which the parent company Entity A which is wholly owned by Shareholder A transfers a business Business A to a new entity referred to as Newco also wholly owned by Shareholder A IFRS 3 Business combinations involving newly formed entities factors affecting identification of the acquirer 08 Sep 2011 The Committee reconsidered and revised its earlier draft agenda decision in response to a request for guidance on the circumstances or factors that are relevant when identifying an acquirer in a business combination under IFRS 3 Business Combinations specifically transactions subject to conditions such as an initial public offering IPO IAS 27 Group organisations in separate financial statements 07 Sep 2011 The Interpretations Committee received a request asking for clarification of whether paragraphs 38B and 38C of IAS 27 amended 2008 or paragraphs 13 and 14 of IAS 27 revised 2011 apply either directly or by analogy to reorganisations of groups that result in the new intermediate parent having more than one direct subsidiary IAS 27 Group reorganisations in separate financial statements new 07 Jul 2011 The IFRS Interpretations Committee received a request for clarification on how entities that are established as new intermediate parents within a group determine the cost of their investments in subsidiaries

    Original URL path: http://www.iasplus.com/en/projects/research/short-term/common-control (2016-02-10)
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  • Disclosure initiative — Disclosure review
    project XBRL eXtensible Business Reporting Language Info Disclosure initiative Disclosure review Background This project is part of the IASB s overall disclosure initiative and is expected to consider the disclosures currently in International Financial Reporting Standards As part of the IASB s Feedback Statement Discussion Forum Financial Reporting Disclosure constituent concern about the cumulative effect of disclosure requirements introduced by new and revised standards was noted with many commentators suggesting a general review of disclosure requirements Although the IASB noted it would prefer to wait until it has considered disclosure principles as part of its comprehensive Comprehensive Framework project the IASB is expected to consider ways in which to accelerate standards level disclosure reviews Current status of the project Board discussions will continue into the fourth quarter of 2015 Project milestones Date Development Comments 28 May 2013 Feedback Statement Discussion Forum Financial Reporting Disclosure published Three key actions to be considered by the IASB Narrow scope amendments to IAS 1 A project to develop application guidance or educational material on materiality Revised research project on financial statement presentation Related Discussions Disclosure initiative Standards level review of disclosures and amendments to IAS 7 15 Dec 2015 The IASB continued deliberations of the Disclosure Initiative Project In this session the staff presented a PowerPoint proposal for the initial phase of the project on which the staff sought the views of the IASB Disclosure 26 Feb 2013 Filippo Poli a member of the EFRAG Technical Staff presented the preliminary feedback analysis of the comments received on the EFRAG discussion paper and Dr Teixeira made a presentation of early stage activities on the IASB s project to develop a disclosure framework in particular its late 2012 survey of users and preparers on various disclosure issues and the public forum on disclosure held on 28

    Original URL path: http://www.iasplus.com/en/projects/research/short-term/disclosure-review (2016-02-10)
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  • Discount rates
    considered inconsistent The project is expected to examine differences in the discount rate requirements in IFRS explain why those differences exist assess whether there are inconsistencies that should be addressed by the IASB Standards that include requirements in relation to discount rates include IAS 19 Employee Benefits IAS 36 Impairment of Assets IAS 37 Provisions Contingent Liabilities and Contingent Assets IFRS 13 Fair Value Measurement Current status of the project In December 2012 as part of its response to the Agenda consultation 2011 the IASB formally added this project as an IASB only research project Board discussion is expected in the first quarter of 2015 Project milestones Date Development Comments December 2012 Added to the IASB work programme as a research project Related Discussions Research project on discount rates education session 19 Jan 2016 This education session was part of the development of a possible research paper on discount rates The staff updated the IASB on their findings regarding 1 present value measurement methodology in particular relating to tax 2 presentation and disclosures relating to present value measurement 3 present value measurement objectives and how they explain the differences in discount rates and 4 scope of present value measurements in IFRS No decisions were made Present value measurements Discount rates 16 Dec 2015 In this educational session the staff updated the IASB on their findings regarding the components of present value measurement and measurement methodology Present value measurements Discount rates 24 Sep 2015 The Board discussed the draft research paper on this topic Research project on discount rates review of existing requirements 19 Jun 2014 The Board received an overview of the proposed approach to examine an assess discount rate requirements in IFRSs As this session was for information only the Board was not asked to make any decisions IAS

    Original URL path: http://www.iasplus.com/en/projects/research/short-term/discount-rates (2016-02-10)
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  • Equity method of accounting
    2011 defines the equity method as follows The equity method is a method of accounting whereby the investment is initially recognised at cost and adjusted thereafter for the post acquisition change in the investor s share of the investee s net assets The investor s profit or loss includes its share of the investee s profit or loss and the investor s other comprehensive income includes its share of the investee s other comprehensive income This research project is designed to undertake a fundamental assessment of the equity method of accounting in terms of usefulness to investors and difficulties for preparers Current status of the project In December 2012 as part of its response to the Agenda consultation 2011 the IASB formally added this project to its work programme as an IASB only research project Board discussions are expected in the fourth quarter of 2014 and first half of 2015 Project milestones Date Development Comments December 2012 Added to the IASB work programme as a research project Related Discussions Research programme 15 Dec 2015 In this session the Director of Research informed the IASB about changes to the research programme since the last update in September 2015 IFRS implementation issues IFRIC update 19 Nov 2015 The regular update summary paper on the most recent IFRS Interpretations Committee meeting was discussed with the board Major topics included IFRS 2 and classification and measurement of share based payment transactions and the deferral of the effective date of the September 2014 amendment to IFRS 10 and IAS 28 Equity method 24 Jun 2015 The Board discussed a staff proposal to undertake a limited scope research project to address equity accounting requirements for Investments in Associates and Joint Ventures The Board approved the staff recommendation which also included setting aside the application of the equity method for investment in subsidiaries in separate financial statements Research update 18 Mar 2015 The Board reviewed projects on the research agenda including the scope and timing Research programme 23 Jul 2014 The Board was presented a paper setting out how the IASB should prioritise the projects in the research programme Equity method of accounting Research project 21 May 2014 The staff presented the first agenda paper on the Equity method of accounting research project The Board discussed various issues around the scope of the project It was concluded that the scope should be narrow as a majority of the Board members did not see a problem with the equity method Equity method in separate financial statements 21 Mar 2014 The Board received a summary of the feedback received on its Exposure Draft ED 2013 10 Equity Method in Separate Financial Statements which had been published in December 2013 No decisions were made All Related Quick links IAS 28 Investments in Associates and Joint Ventures Related news Summary of the December 2015 ASAF meeting now available 22 Jan 2016 IASB defers the effective date of September 2014 amendments to IFRS 10 and IAS 28 17 Dec 2015 Summary of

    Original URL path: http://www.iasplus.com/en/projects/research/short-term/equity-method (2016-02-10)
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  • Financial reporting in high inflationary economies
    not added to the agenda IFRIC Navigation Short and medium term research projects Research projects short and medium term Common control transactions Disclosure initiative Disclosure review Discount rates Pollutant pricing mechanisms formerly Emissions trading schemes Equity method of accounting Financial instruments with characteristics of equity Financial reporting in high inflationary economies Non financial liabilities Rate regulated activities Comprehensive project XBRL eXtensible Business Reporting Language Info Financial reporting in high inflationary economies Background The IASB formally added this research project to its work programme in December 2012 as part of its response to the Agenda consultation 2011 Current status of the project The IASB has completed its initial assessment on this project and has no current plans to undertake additional work It plans to remove this project from the research programme subject to feedback in the next agenda consultation Project milestones Date Development Comments December 2012 Added to the IASB work programme as a research project May 2015 The IASB has completed its initial assessments on this project and has no current plans to undertake additional work It plans to remove this project from the research programme subject to feedback in the next agenda consultation Related Discussions Inflation 29 Apr 2015 The Board discussed a project on high inflation The project was based on a request to lower the IAS 29 threshold that triggers inflation adjustment The Board tentatively decided to remove the project from its agenda and instead agreed to discuss the issue with the Emerging Economies Group and add the issue to the next agenda consultation All Related Related news IASB issues work plan update 29 May 2015 Agenda for February 2015 CMAC meeting 17 Feb 2015 Accounting considerations in view of Venezuela s state as a highly inflationary economy 10 Apr 2014 IASB concludes agenda consultation by releasing

    Original URL path: http://www.iasplus.com/en/projects/research/short-term/financial-reporting-in-high-inflationary-economies (2016-02-10)
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  • Foreign currency translation
    the Korean Accounting Standards Board KASB and considered whether any work on IAS 21 The Effects of Changes in Foreign Exchange Rates was appropriate The project subsequently morphed into a broader research project on foreign currency translation focused on issues such as performance reporting rather than narrow scope issues Current status of the project The IASB has completed its initial assessment on this project and has no current plans to undertake additional work It plans to remove this project from the research programme subject to feedback in the next agenda consultation Project milestones Date Development Comments December 2012 Added to the IASB work programme as a research project October 2014 IASB decided not to pursue narrow scope amendments to IAS 21 in favour of a longer term broader research project Broader research project to be considered as part of the 2015 agenda consultation May 2015 The IASB has completed its initial assessments on this project and has no current plans to undertake additional work It plans to remove this project from the research programme subject to feedback in the next agenda consultation Related Discussions Research programme 22 Oct 2014 The IASB received an update on the research programme Their main discussion was focused on issues raised by the Korean Accounting Standard Board KASB on IAS 21 The Effects of Changes in Foreign Exchange Rates The KASB had proposed narrow scope amendments and a comprehensive review of IAS 21 The Board decided not to follow their recommendations for narrow scope amendments of IAS 21 however in relation to the comprehensive review proposal the IASB would i ask the KASB to continue their research on foreign currency issues focusing on performance reporting ii include those issues in the 2015 agenda consultation and iii move the foreign currency translation research project from high

    Original URL path: http://www.iasplus.com/en/projects/research/long-term/foreign-currency-translation (2016-02-10)
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  • IFRS 2 — Research project on share-based payments
    Share based Payment was issued in 2004 The objective of this project is to discuss and decide whether and if so how the issues identified should be addressed including amending the principles of IFRS 2 considered as part of the annual improvements process as distinct amendments to IFRS 2 or other standards or referred for consideration in other projects Current status of the project This project is currently on hold The Board continues to monitor issues arising in relation to IFRS 2 and has identified share based payments as a possible longer term research project in its Feedback Statement resulting from its agenda consultation 2011 Preliminary work on the research project is not expected to commence until after the 2015 agenda consultation Related Discussions Research project share based payment 19 Nov 2015 The IASB is currently conducting a research project on IFRS 2 to identify areas of complexity its causes and application issues The staff presented a summary of the research conducted so far Research project IFRS 2 approach 19 May 2015 This session was devoted to discussing the approach the IASB staff plan to apply to the research project to identify the main application issues that arise from IFRS 2 in practice and the most commonly identified areas of complexity The IASB staff member introduced the agenda paper and asked the IASB members whether they agreed with the suggested approach to the exploratory research on IFRS 2 or whether any changes were needed IFRS 2 Modifications that affect classification of the award new 05 May 2011 The Committee considered a request to clarify the accounting for a modification of a share based payment that changes its classification from cash settled to equity settled IFRS Interpretations Committee update from last meeting 15 Apr 2011 The staff provided the Board with an update from the March 2011 IFRS Interpretations Committee meeting IFRS 2 Vesting and non vesting conditions 10 Mar 2011 In response to a request from the IASB the IFRS Interpretations Committee considered a summary of various IFRS 2 Share based Payment issues that had been received since 2005 IFRS 2 Share based payment awards settled net of tax withholding 10 Mar 2011 The IFRS Interpretations Committee continued its discussions on whether amounts paid by entities on employers behalf directly to taxing authorities for withholding on share based payment awards represents cash settled or equity settled shares under IFRS 2 Share based Payment considering an illustrative example developed by staff IFRS Interpretations Committee update from last meeting 16 Sep 2010 The Board received an update on the activities of the IFRS Interpretations Committee and considered a number of issues related to IFRS 2 Share based Payment IFRS 2 Vesting and non vesting conditions 06 May 2010 The IFRS Interpretations Committee considered a staff prepared comprehensive analysis of proposed classifications of vesting and non vesting conditions and their interaction IFRS 2 Where manner of settlement is contingent on future events 05 Nov 2009 The IFRIC received a request to clarify the

    Original URL path: http://www.iasplus.com/en/projects/research/long-term/ifrs-2-research (2016-02-10)
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