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  • EFRAG draft comment letter on proposed amendments to address concerns about the different effective dates of IFRS 9 and the new insurance contracts standard
    address all concerns EFRAG is also convinced that the exemption should be available to all entities that issue material insurance contracts within the scope of IFRS 4 in order to avoid an uneven playing field in the insurance sector As the exemption should not capture material non insurance activities EFRAG is of the opinion that it should be available both at and below the reporting entity level In order to achieve this EFRAG suggests to base the exemption on one of the following approaches A widened predominant activity criterion which is determined on a basis that is not limited to the issuance of contracts within the scope of IFRS 4 However it would be set at a higher threshold than proposed by the IASB or A regulated entity criterion which considers definitions from regulatory sources Finally EFRAG agrees with the expiry date set for the temporary exemption from applying IFRS 9 Comments on EFRAG s draft comment letter are requested by 20 January 2016 For more information see the press release and the draft comment letter on the EFRAG website Related Topics Resources European Financial Reporting Advisory Group EFRAG IASB exposure drafts International Accounting Standards Board IASB EFRAG draft comment letters Projects Different effective dates of IFRS 9 and the new insurance contracts standard Insurance contracts Comprehensive project Standards IFRS 4 Insurance Contracts IFRS 9 Financial Instruments IAS 39 Financial Instruments Recognition and Measurement Related news Pre meeting summaries for the February IASB meeting 09 Feb 2016 2016 IFRS Red Book coming in March 09 Feb 2016 Reactions to the proposed amendments intended to address concerns about the different effective dates of IFRS 9 and the forthcoming new insurance contracts standard 08 Feb 2016 We comment on the IASB s proposed amendments to IFRS 4 08 Feb 2016 FEE briefing

    Original URL path: http://www.iasplus.com/en/news/2015/12/efrag-dcl-ifrs-9-ifrs-4 (2016-02-10)
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  • Agenda for the December 2015 ASAF meeting changed
    significance as it relates to IFRS 9 and the forthcoming standard on insurance contracts So far the different effective dates of IFRS 9 and the new standard on insurance contracts were supposed to be dealt with as part of an omnibus discussion of current IASB projects at the end of the meeting The issue has now been given a slot in its own right Monday 7 December 16 15 17 30 According to the new agenda the session is intended to focus only on the overlay approach the deferral approach will not be discussed An additional agenda paper for the session has been made available We have updated our agenda overview for the entire meeting to reflect the change Related Topics Resources Accounting Standards Advisory Forum ASAF Projects Different effective dates of IFRS 9 and the new insurance contracts standard Standards IAS 39 Financial Instruments Recognition and Measurement IFRS 4 Insurance Contracts IFRS 9 Financial Instruments Related news Reactions to the proposed amendments intended to address concerns about the different effective dates of IFRS 9 and the forthcoming new insurance contracts standard 08 Feb 2016 We comment on the IASB s proposed amendments to IFRS 4 08 Feb 2016 FEE briefing paper on the endorsement of IFRS 9 08 Feb 2016 EU endorsement of IFRS 9 now expected in the second half of 2016 04 Feb 2016 EBA launches an impact assessment of IFRS 9 on banks 28 Jan 2016 Summary of the December 2015 ASAF meeting now available 22 Jan 2016 All Related Related Publications Deloitte comment letter on proposed amendments to IFRS 4 08 Feb 2016 EFRAG endorsement status report 3 February 2016 04 Feb 2016 Insurance webcast 56 The IASB has completed its deliberations on IFRS 4 Phase II 03 Feb 2016 Insurance webcast 55 The proposed

    Original URL path: http://www.iasplus.com/en/news/2015/11/new-asaf-agenda (2016-02-10)
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  • IFRS in Focus — IASB proposes amendments to IFRS 4 to address concerns about the different effective dates of IFRS 9 and the new insurance contracts Standard that will replace IFRS 4
    4 to address concerns about the different effective dates of IFRS 9 and the new insurance contracts Standard that will replace IFRS 4 Published on 15 Dec 2015 This newsletter outlines the proposed amendments to IFRS 4 Insurance Contracts set out in ED 2015 11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts the exposure draft which was issued in December 2015 for public comment Download Related Topics Publication series IFRS in Focus Resources IASB exposure drafts International Accounting Standards Board IASB Projects Different effective dates of IFRS 9 and the new insurance contracts standard Insurance contracts Comprehensive project Standards IFRS 9 Financial Instruments IAS 39 Financial Instruments Recognition and Measurement IFRS 4 Insurance Contracts Related news Pre meeting summaries for the February IASB meeting 09 Feb 2016 2016 IFRS Red Book coming in March 09 Feb 2016 Reactions to the proposed amendments intended to address concerns about the different effective dates of IFRS 9 and the forthcoming new insurance contracts standard 08 Feb 2016 We comment on the IASB s proposed amendments to IFRS 4 08 Feb 2016 FEE briefing paper on the endorsement of IFRS 9 08 Feb 2016 February 2016 IASB meeting agenda posted 05 Feb 2016 All Related Related Publications Deloitte comment letter on proposed amendments to IFRS 4 08 Feb 2016 EFRAG endorsement status report 3 February 2016 04 Feb 2016 Insurance webcast 56 The IASB has completed its deliberations on IFRS 4 Phase II 03 Feb 2016 Insurance webcast 55 The proposed solution to the de coupling of IFRS 9 and IFRS 4 Phase II 03 Feb 2016 All Related Related Discussions Insurance contracts 16 Feb 2016 Insurance contracts 19 Jan 2016 IFRS 9 Transition issues relating to hedging 12 Jan 2016 IAS 39 IFRS 9 Embedded derivatives in negative interest rate

    Original URL path: http://www.iasplus.com/en/publications/global/ifrs-in-focus/2015/ifrs-4-amendments (2016-02-10)
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  • IFRS Project Insights — Insurance contracts
    Member firm publications Non English publications Third party publications IFRS e learning Info IFRS Project Insights Insurance contracts Published on 01 Dec 2015 IFRS Project Insights provide a quick overview of the key projects of the IASB with a summary of the current status key decisions and proposals key considerations for entities and the next steps expected in the project This edition includes tentative decisions reached during the IASB s 18 November 2015 meeting on insurance contracts Last updated 1 December 2015 Download Related Topics Publication series IFRS project insights Projects Insurance contracts Comprehensive project Quick links Insurance contracts Comprehensive project Insurance related publications Related news Reactions to the proposed amendments intended to address concerns about the different effective dates of IFRS 9 and the forthcoming new insurance contracts standard 08 Feb 2016 We comment on the IASB s proposed amendments to IFRS 4 08 Feb 2016 Summary of the December 2015 ASAF meeting now available 22 Jan 2016 EFRAG draft comment letter on proposed amendments to address concerns about the different effective dates of IFRS 9 and the new insurance contracts standard 24 Dec 2015 IASB proposes amendments to address concerns about the different effective dates of IFRS 9 and the new insurance contracts standard 09 Dec 2015 Summary of the October ASAF meeting now available 29 Oct 2015 All Related Related Publications Deloitte comment letter on proposed amendments to IFRS 4 08 Feb 2016 Insurance webcast 56 The IASB has completed its deliberations on IFRS 4 Phase II 03 Feb 2016 Insurance webcast 55 The proposed solution to the de coupling of IFRS 9 and IFRS 4 Phase II 03 Feb 2016 IFRS in Focus IASB proposes amendments to IFRS 4 to address concerns about the different effective dates of IFRS 9 and the new insurance contracts Standard

    Original URL path: http://www.iasplus.com/en/publications/global/project-insights/insurance (2016-02-10)
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  • Insurance contracts
    choice on CSM accretion unlocking would affect measurement and change the carrying amount of the insurance contracts on the statement of financial position The Board approved the staff recommendation not to allow in the general model the use of current discount rates to calculate the unlocking adjustments and the accretion of time value of money on the CSM balance with 10 members voting for and 4 against Discretion This issue generated the most debate of the session The Staff presented an example with four ways of viewing the effect of discretion on participating contracts that do not meet the definition of direct participation and are excluded from the application of the variable fee approach One view was that any cash flows lower than the original expectation subject to minimum guarantee were discretionary view a View b was that the entity promises to pay the return on the assets it holds less a margin subject to a minimum guarantee View c was the entity promises a return based on market conditions less a margin subject to a minimum guarantee and therefore paying a return greater than the market because the underlying assets return was higher is discretionary The final view was based strictly on contractual obligation so that all cash flows above the minimum guarantee were discretionary view d A large part of the discussion focussed on the definitions in views b and c The staff recommended view c to avoid a link to the assets held by the insurer One Board member while agreeing with the recommendation wanted the entity to define at the outset how it views its expected discretionary cash flows At the outset an entity would specify a return it expects to generate from a mix of assets The model would then be re run for the actual returns on that expected mix To the extent an entity pays something different it would have exercised discretion Other Board members preferred view b which was based on the performance of the assets They argued that an insurer would typically exercise its discretion through the asset mix it holds However viewing the insurer s promise of returns as based on the actual assets held would push the contract into the variable fee approach and some other Board members were not comfortable with that outcome Some of those Board members supporting view b were concerned that in the staff paper example view c still showed a CSM balance when the contract was becoming onerous They were also concerned with the degree of variable outcomes produced by view c when the scenario assumptions were changed In particular for longer duration assets when interest rates were increasing the liability and the CSM were increasing but insurer was not worse off as if the underlying assets were paying variable rates Given all of these concerns the Board was not able to reach a decision only 6 supported the staff recommendation and the issue will be brought back to the December meeting Consequential issues

    Original URL path: http://www.iasplus.com/en/meeting-notes/iasb/2015/november/insurance (2016-02-10)
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  • Deloitte comment letter on tentative agenda decision on IFRS 9 and IAS 39 — Derecognition of financial assets
    Committee s publication in the November IFRIC Update of the tentative decision not to take onto the Committee s agenda a potential narrow scope project to clarify the circumstances in which a modification or exchange of financial assets results in derecognition of the original asset We disagree with the with the IFRS Interpretations Committee s decision not to add this item onto its agenda we believe that standard setting activity is required in this area because it is an issue that arises frequently in practice and in the absence of guidance diverse practices are likely to evolve We believe that this issue should be referred to the IASB for comprehensive consideration Download the full comment letter below Download Related Topics Publication series Deloitte comment letters IASB IFRIC IFRSF Resources IFRS Interpretations Committee Projects IFRS Interpretations Committee agenda discussions Standards IAS 39 Financial Instruments Recognition and Measurement IFRS 9 Financial Instruments Related news Reactions to the proposed amendments intended to address concerns about the different effective dates of IFRS 9 and the forthcoming new insurance contracts standard 08 Feb 2016 We comment on the IASB s proposed amendments to IFRS 4 08 Feb 2016 FEE briefing paper on the endorsement of IFRS 9 08 Feb 2016 EU endorsement of IFRS 9 now expected in the second half of 2016 04 Feb 2016 EBA launches an impact assessment of IFRS 9 on banks 28 Jan 2016 We comment on two IFRIC draft Interpretations 19 Jan 2016 All Related Related Publications Deloitte comment letter on proposed amendments to IFRS 4 08 Feb 2016 EFRAG endorsement status report 3 February 2016 04 Feb 2016 Insurance webcast 55 The proposed solution to the de coupling of IFRS 9 and IFRS 4 Phase II 03 Feb 2016 Deloitte comment letter on the IASB s annual improvements

    Original URL path: http://www.iasplus.com/en/publications/global/comment-letters/2016/nov-ifric-upd-ifrs-9-derecognition (2016-02-10)
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  • Accounting Roundup
    eine alte Version von Internet Explorer verwenden oder der Kompatilitätsmodus eingeschaltet ist Bitte prüfen Sie ob der Kompatibilitätsmodus ausgeschaltet ist nutzen Sie eine Version ab IE 9 0 oder verwenden Sie einen anderen Browser wie bspw Google Chrome oder Mozilla Firefox IAS Plus IAS plus Global Deutsch Global English Global Deutsch Kanada English Kanada Français Vereinigtes Königreich English Vereinigte Staaten English Anmelden oder registrieren Deloitte Nutzer Anmelden Benutzername Passwort Anmelden Registrieren Passwort vergessen Willkommen Mein Konto Abmelden IAS Plus Global Deutsch Global English Global Deutsch Kanada English Kanada Français Vereinigtes Königreich English Vereinigte Staaten English Toggle navigation Search site Toggle navigation Startseite Nachrichten Publikationen IASB Verlautbarungen Ressourcen Projekte Länder Mein IAS Plus Meine Themen Veröffentlichungen Toggle navigation Search site Info Accounting Roundup Rechtliche Hinweise Datenschutz sicherheit Kontakt Impressum FAQs Die Materialien dieser Seite stehen unter dem Copyright von Deloitte Global Services Limited eines seiner Mitgliedsunternehmen oder eines ihnen nahe stehenden Unternehmens Für weitere Copyright und anderweitige rechtliche Informationen verweisen wir auf die Rechtlichen Hinweise Deloitte bezieht sich auf Deloitte Touche Tohmatsu Limited DTTL eine private company limited by guarantee Gesellschaft mit beschränkter Haftung nach britischem Recht und oder ihr Netzwerk von Mitgliedsunternehmen Jedes dieser Mitgliedsunternehmen ist rechtlich selbstständig und unabhängig

    Original URL path: http://www.iasplus.com/de/publications/us/accounting-roundup?set_language=de (2016-02-10)
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  • Accounting Roundup
    reporting developments throughout 2015 Accounting Roundup November 2015 03 Dec 2015 This issue features articles on 1 the FASB s a ASU simplifying the balance sheet presentation of deferred taxes and b proposed ASUs on disclosures about government assistance and clarifying the definition of a business 2 the FASB s completion of its lease redeliberations 3 the IASB s proposal to clarify its guidance on investment property 4 the completion of the FAF s three year review of the PCC and 5 the GAO s report on a sample of SEC registrants disclosures under the conflict minerals rule Accounting Roundup October 2015 03 Nov 2015 This issue features articles on 1 the SEC s final rule permitting eligible companies to use crowdfunding to offer and sell securities over the Internet 2 the completion of the IASB s redeliberations related to its leases project 3 the GASB s proposal to amend its guidance for governmental entities participating in certain multiple employer defined benefit pension plans and 4 the CAQ s publication of two alerts underscoring risks auditors should consider for the 2015 audit cycle Accounting Roundup Third quarter in review 2015 02 Oct 2015 This edition of Accounting Roundup summarizes the key financial reporting developments in the third quarter of 2015 Accounting Roundup August 2015 01 Sep 2015 This issue features articles on 1 developments related to the FASB s new revenue standard including the Board s issuance of a an ASU deferring the standard s effective date and b a proposed ASU on clarifying principal versus agent considerations 2 two derivative related FASB proposals released in response to EITF consensuses for exposure and 3 the SEC s conflict minerals rule including a the partial stay on the rule that was recently upheld by a federal appellate court and b a GAO report that analyzes the disclosures that entities have provided under the rule Accounting Roundup July 2015 03 Aug 2015 This issue features articles on 1 various developments related to the FASB s and IASB s joint revenue standard Revenue From Contracts With Customers released as ASU 2014 09 by the FASB and IFRS 15 by the IASB including the boards affirmations of their proposals to defer the standard s effective date by one year the IASB s issuance of a proposal that would make certain clarifications to IFRS 15 and a summary of the boards July 13 2015 transition resource group meeting 2 the FASB s issuance of an ASU that requires entities to measure most inventory at the lower of cost and net realizable value thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market market in this context is defined as one of three different measures one of which is net realizable value and 3 a joint staff report released by the SEC and four other agencies that analyzes U S Treasury market volatility Accounting Roundup Second quarter in review 2015 02 Jul 2015 This edition of Accounting

    Original URL path: http://www.iasplus.com/en/tag-types/member-firms/united-states/accounting-roundup-1 (2016-02-10)
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