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  • Agenda consultations
    My account Logout IAS Plus Global English Global English Global Deutsch Canada English Canada Français United Kingdom English United States English Toggle navigation Search site Toggle navigation Home News Publications Meetings Standards Projects Jurisdictions Resources My IAS Plus Topics Communications Toggle navigation Search site Navigation Projects Major projects Narrow scope amendments Research projects Post implementation reviews Agenda consultations Completed projects Items not added to the agenda IFRIC Info Agenda consultations In February 2010 the Trustees of the IFRS Foundation the IASB s oversight body announced enhancements to their governance arrangements including the decision to undertake a three yearly public consultation on the IASB s future technical agenda in addition to consulting the Trustees and the IFRS Advisory Council annually on the existing and future agenda The last agenda consultation was completed in December 2012 and the next consultation process is expected to be commenced in 2015 Title Description Agenda consultation 2011 Completed 2012 A three yearly public consultation on the IASB s future technical agenda The IASB issued a Feedback Statement on 18 December 2012 Agenda consultation 2015 The primary objective of the agenda consultations is to seek formal public input on the strategic direction and balance of the IASB s work programme The second agenda consultation was launched on 11 August 2015 Quick links IASB due process Latest news FASB adds four projects to research agenda 08 Feb 2016 IASB updates work plan 22 Jan 2016 We comment on the IASB agenda consultation 04 Jan 2016 Summary of the CMAC November 2015 meeting 22 Dec 2015 FEE believes IASB needs to take a more active role in driving the broader corporate reporting agenda 22 Dec 2015 Contact us About Legal Privacy FAQs Material on this website is 2015 Deloitte Global Services Limited or a member firm of Deloitte Touche

    Original URL path: http://www.iasplus.com/en/projects/agenda (2016-02-10)
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  • Completed projects
    project seeking views on when new financial reporting standards resulting primarily from the Boards work to improve and achieve convergence of IFRSs and US GAAP should become effective Emission rights Completed 2004 IFRIC 3 Emission Rights was issued on 2 December 2004 Employee benefits Convergence issues superseded Superseded by the comprehensive project on post employment benefits Extractive activities Exploration for and evaluation of mineral resources Completed 2004 IFRS 6 Exploration for and Evaluation of Mineral Resources was issued on 10 December 2004 Extractive activities Comprehensive project Project discontinued 2012 In December 2012 the IASB activated a broader research project on intangible assets as part of its response to its Agenda Consultation 2011 Fair value measurement Completed 2011 IFRS 13 Fair Value Measurement was issued on 12 May 2011 and provides guidance on how to measure the fair value of assets and liabilities when required by other Standards The IASB and FASB are developing educational material relating to fair value measurements Financial instruments Effective date of IFRS 9 Completed 2011 The IASB issued Mandatory Effective Date and Transition Disclosures Amendments to IFRS 9 and IFRS 7 on 16 December 2011 Financial instruments Limited reconsideration of IFRS 9 Completed 2014 The finalised version of IFRS 9 Financial Instruments was issued on 24 July 2014 Financial instruments General hedge accounting Completed 2013 IFRS 9 Financial Instruments Hedge Accounting and amendments to IFRS 9 IFRS 7 and IAS 39 was issued on 19 November 2013 Financial instruments Classification and measurement Completed 2010 IFRS 9 Financial Instruments was issued on 12 November 2009 dealing with financial assets and reissued on 28 October 2010 incorporating requirements for financial liabilities Financial instruments Asset and liability offsetting Completed 2011 Disclosures Offsetting Financial Assets and Financial Liabilities Amendments to IFRS 7 and Offsetting Financial Assets and Financial Liabilities Amendments to IAS 32 were issued on 16 December 2011 Financial instruments Joint Working Group proposal In mid 1997 when it embarked on the project that led to IAS 39 Financial Instruments Recognition and Measurement IASC agreed to continue to explore the possibility of requiring full fair value measurements in the primary financial statements sometimes called mark to market for all financial assets and financial liabilities As part of that exploration IASC had for the past three and a half years participated in a Joint Working Group JWG of International Standard Setters on Financial Instruments comprised of standard setters representing 13 countries Financial instruments Derecognition An IASB project to consider the derecognition of financial instruments In light of the feedback received during the consultation process the IASB decided to retain the existing derecognition requirements and to finalise improved disclosure requirements Financial instruments Disclosures Completed 2005 IFRS 7 Financial Instruments Disclosures and Capital Disclosures Amendments to IAS 1 were issued on 18 August 2005 Financial instruments Impairment Completed 2014 The finalised version of IFRS 9 Financial Instruments was issued on 24 July 2014 Financial statement presentation Other comprehensive income Completed 2011 The IASB issued Presentation of Items of Other Comprehensive Income Amendments to IAS 1 on 16 June 2011 implementing limited scope amendments to IAS 1 Financial statement presentation Financial statements and comparatives Completed 2007 The IASB issued a revised IAS 1 Presentation of Financial Statements on 6 September 2007 completing the first phase of the IASB FASB convergence project on financial statement presentation Financial statement presentation Comprehensive project Discontinued in 2010 This project sought to address broadly the issues related to the display and presentation in the financial statements of all recognised changes in assets and liabilities from transactions or other events except those related to transactions with owners as owners sometimes called comprehensive income First time adoption of International Financial Reporting Standards Completed 2003 IFRS 1 First time Adoption of International Financial Reporting Standards was issued on 19 June 2003 Government grants On hold Originally a project to reconsider the requirements for government grant accounting This project is currently on hold pending an IASB staff review to develop a recommended course of action IAS 1 Disclosures about going concern A narrow scope project to clarify the disclosure requirements about the assessment of going concern in IAS 1 Presentation of Financial Statements This project has been incorporated into the IASB s short term disclosure initiative of amendments to IAS 1 IAS 8 Effective dates and transition methods Discontinued 2012 In October 2012 the IASB suspended this project pending the outcome of its Conceptual Framework project IAS 11 Criteria for combining and segmenting contracts Discontinued 2006 IFRIC formally removed the issue from its agenda at its November 2006 meeting The issues will instead be considered as part of the IASB s project on revenue recognition IAS 12 Recognition of deferred tax assets for unrealised losses Completed 2016 The IASB issued Recognition of Deferred Tax Assets for Unrealised Losses on 19 January 2016 IAS 12 Recovery of underlying assets Completed 2010 The IASB issued Deferred Tax Recovery of Underlying Assets Amendments to IAS 12 on 20 December 2010 IAS 16 Contingent pricing of property plant and equipment Discontinued 2011 Originally an IFRS Interpretations Committee project considering a request for guidance on how to account for contingent payments for the separate purchases of property plant and equipment PPE IAS 16 Stripping costs in the production phase of a mine Completed 2011 IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine was issued on 19 October 2011 IAS 16 IAS 38 Acceptable methods of depreciation and amortisation Completed 2014 The IASB issued Clarification of Acceptable Methods of Depreciation and Amortisation Amendments to IAS 16 and IAS 38 on 12 May 2014 IAS 17 Determining whether an arrangement contains a lease Completed 2004 IFRIC 4 Determining Whether an Arrangement Contains a Lease was issued on 2 December 2004 IAS 17 Sales and leasebacks with repurchase rights Discontinued 2007 IFRIC formally removed this issue from its agenda at its March 2007 meeting IAS 18 Customer loyalty programmes Completed 2007 IFRIC 13 Customer Loyalty Programmes was issued on 28 June 2007 IAS 18 Guidance on identifying agency relationships Discontinued 2007 IFRIC removed this matter from its agenda and referred it to the IASB for resolution as part of the annual improvements process IAS 18 Initial fees received by a fund manager Discontinued 2007 IFRIC could not reach consensus on this matter and removed the issue from its agenda at its January 2007 meeting IAS 18 Sales of real estate Completed 2008 IFRIC 15 Agreements for the Construction of Real Estate was issued on 3 July 2008 IAS 18 Transfers of assets from customers Completed 2009 IFRIC 18 Transfers of Assets from Customers was issued on 29 January 2009 IAS 19 Actuarial gains and losses group plans and disclosures Completed 2004 Amendments to IAS 19 Employee Benefits were issued on 16 December 2004 IAS 19 Allocation of benefits to periods of service Discontinued 2003 IFRIC reaffirmed its decision not to address this issue at its December 2003 meeting IAS 19 Changes in employment benefits and actuarial assumptions Discontinued 2002 After initial background discussions IFRIC removed this issue from its agenda at its February 2002 meeting IAS 19 Discount rate Discontinued 2013 A project to clarify the determination of the discount rate used when applying IAS 19 Employee Benefits particularly around the requirement to use market yields on high quality corporate bonds or government bonds The IASB decided at its 2013 December meeting that currently no further work is planned on the project IAS 19 Distinction between curtailments and past service cost Discontinued 2007 IFRIC removed this topic from its agenda in May 2007 and the issue was instead dealt with as part of the IASB s 2006 2008 cycle of annual improvements IAS 19 Distinguishing between defined benefit and defined contribution plans hybrid plans Discontinued 2006 IFRIC referred this matter to the IASB for resolution IAS 19 Effect of minimum funding requirements on asset ceiling Completed 2007 IFRIC 14 IAS 19 The Asset Ceiling Availability of Economic Benefits and Minimum Funding Requirements was issued on 4 July 2007 IAS 19 Employee benefit plans with a promised return on contributions or notional contributions Discontinued 2014 After previously issuing a Draft Interpretation and discontinuing this project at its November 2006 meeting the IFRS Interpretations Committee reactivated this project in May 2012 but later again removed it from its agenda in May 2014 after the Committee could not reach a consensus on a solution to improve the financial reporting for employee benefit plans with a guaranteed return on contributions or notional contributions IAS 19 Employee contributions to defined benefit plans Completed 2013 The IASB issued Defined Benefit Plans Employee Contributions Amendments to IAS 19 on 21 November 2013 IAS 19 Multiemployer plan exemption Discontinued 2004 The issues became part of of the amendments to IAS 19 Employee Benefits issued in December 2004 IAS 19 Termination benefits Completed 2011 The IASB issued an amended IAS 19 Employee Benefits on 16 June 2011 IAS 19 The asset ceiling Completed 2002 An amendment to IAS 19 Employee Benefits was issued on 31 May 2002 IAS 21 Hedging a net investment Completed 2008 IFRIC 16 Hedges of a New Investment in a Foreign Operation was issued on 3 July 2008 IAS 23 US GAAP convergence project Completed 2007 A revised IAS 23 Borrowing Costs was issued on 29 March 2007 IAS 24 State controlled entities and definition of related party Completed 2009 The IASB issued a revised IAS 24 Related Party Disclosures on 4 November 2009 IAS 27 Control by a fiduciary Discontinued 2004 IFRIC removed this issue from its agenda at its May 2004 meeting as the IASB will consider the matter as part of its project on consolidation IAS 27 Equity method in separate financial statements Completed 2014 The IASB issued Equity Method in Separate Financial Statements Amendments to IAS 27 on 12 August 2014 IAS 27 Non cash distributions Completed 2008 IFRIC 17 Distributions of Non cash Assets to Owners was issued on 27 November 2008 IAS 28 Elimination of gains arising from downstream transactions A narrow scope project to amend IAS 28 Investments in Associates and Joint Ventures 2011 to clarify that an eliminated gain on a downstream transaction with an associate or joint venture that exceeds the carrying amount of the entity s investment in the entity should be presented as a deferred gain This project will not be finalised Instead the IASB issued amendments deferring the effective date of the September 2014 amendments to IAS 28 IFRS 10 and IFRS 12 on 17 December 2015 IAS 28 Reflecting other net asset changes when applying the equity method of accounting Discontinued 2014 In light of insufficient members in favour of approving finalised amendments at the IASB s May 2014 meeting the IASB will not proceed with the originally proposed amendments to provide guidance on whether and where an investor should account for its share of the changes in the net assets of the associate that are not recognised in profit or loss or other comprehensive income OCI of the associate i e other net asset changes IAS 29 First time adoption of IAS 29 Completed 2005 IFRIC 7 Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies was issued on 24 November 2005 IAS 32 Classification of rights issues Completed 2009 Classification of Rights Issues Amendment to IAS 32 was issued on 8 October 2009 IAS 32 Classification of instruments denominated in a foreign currency Discontinued 2006 IFRIC removed this issue from its agenda at its November 2006 meeting after the IASB rejected its proposed amendment to IAS 32 IAS 32 Puttable financial instruments Completed 2008 The IASB issued Puttable Financial Instruments and Obligations Arising on Liquidation Amendments to IAS 32 and IAS 1 on 14 February 2008 IAS 32 Members shares in co operative entities Completed 2004 IFRIC 2 Members Shares in Co operative Entities and Similar Instruments was issued on 25 November 2004 IAS 32 Put options over non controlling interests NCIs Discontinued as a project in its own right in 2014 The issues will now be discussed as part of the project Financial instruments with characteristics of equity IAS 32 IAS 39 Improvements to IASC financial instruments standards Completed 2003 Revised versions of IAS 32 Financial Instruments Disclosure and Presentation and IAS 39 Financial Instruments Recognition and Measurement were issued on 17 December 2003 IAS 34 Disclosures in interim reporting periods Completed 2010 Annual Improvements to IFRSs 2010 was issued on 6 May 2010 clarifying the nature of disclosures required in interim reporting periods IAS 34 Interaction with IAS 36 and IAS 39 Completed 2006 IFRIC 10 Interim Financial Reporting and Impairment was issued on 20 July 2006 IAS 36 Recoverable amount disclosures for non financial assets Completed 2013 The IASB issued Recoverable Amount Disclosures for Non Financial Assets Amendments to IAS 36 on 29 May 2013 IAS 37 Changes in decommissioning restoration and similar liabilities Completed 2004 IFRIC 1 Changes in Existing Decommissioning Restoration and Similar Liabilities was issued on 27 May 2004 IAS 37 Interests in decommissioning and environmental rehabilitation funds Completed 2004 IFRIC 5 Rights to Interests Arising from Decommissioning Restoration and Environmental Funds was issued on 15 December 2004 IAS 37 Obligating event in the light of the EU Directive on waste electrical and electronic equipment Completed 2005 IFRIC 6 Liabilities Arising from Participating in a Specific Market Waste Electrical and Electronic Equipment was issued on 1 September 2005 IAS 37 IFRIC 6 Levies charged for participation in a market on a specified date Completed 2013 The IASB issued IFRIC 21 Levies on 20 May 2013 IAS 38 Compliance costs for REACH This IFRIC project has been discontinued The project was to consider how to account for costs incurred to comply with the requirements of the European Commission Regulation concerning the Registration Evaluation Authorisation and Restriction of Chemicals REACH After many months of deliberations IFRIC decided not to take this issue onto its agenda at its May 2009 meeting IAS 39 Cash flow hedge accounting of forecast intragroup transactions Completed 2005 The IASB issued Cash Flow Hedge Accounting of Forecast Intragroup Transactions Amendments to IAS 39 on 14 April 2005 IAS 39 Exposures qualifying for hedge accounting Completed 2008 The IASB issued Eligible Hedged Items Amendment to IAS 39 on 30 July 2008 IAS 39 Fair value option Completed 2005 The IASB issued The Fair Value Option Amendments to IAS 39 on 15 June 2005 IAS 39 Macro hedging Completed 2004 Fair Value Hedge Accounting for a Portfolio Hedge of Interest Rate Risk Amendments to IAS 39 was issued on 31 March 2004 IAS 39 Reassessment of embedded derivatives Completed 2006 IFRIC 9 Reassessment of Embedded Derivatives was issued on 1 March 2006 IAS 39 Transition and day 1 profit recognition Completed 2004 The IASB issued Transition and Initial Recognition of Financial Assets and Financial Liabilities on 17 December 2004 IAS 39 IAS 32 Debt to equity swaps Completed 2009 IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments was issued on 26 November 2009 IAS 39 IAS 37 Credit risk in liability measurement Discontinued 2009 In October 2009 the IASB decided to stop work on this project as a separate project and instead to consider the issues in the Conceptual Framework Measurement project IAS 39 IFRS 4 Financial guarantee contracts and credit insurance Completed 2005 The IASB issued Financial Guarantee Contracts Amendments to IAS 39 and IFRS 4 on 18 August 2005 IAS 39 IFRS 7 Reclassification of financial assets Completed 2008 and amended in 2009 The IASB issued Reclassification of Financial Assets Amendments to IAS 39 and IFRS 7 on 13 October 2008 and Embedded Derivatives Amendments to IFRIC 9 and IAS 39 on 12 March 2009 IAS 39 IFRS 9 Novation of OTC derivatives and continuing designation for hedge accounting Completed 2013 The IASB issued Novation of Derivatives and Continuation of Hedge Accounting Amendments to IAS 39 on 27 June 2013 with an effective date of 1 January 2014 IAS 41 Bearer plants Completed 2014 The IASB issued Agriculture Bearer Plants Amendments to IAS 16 and IAS 41 on 30 June 2014 IAS 41 Fair value measurement issues in agriculture Discontinued 2007 IFRIC removed this topic from its agenda in 2007 in favour of recommending to the IASB that the matters considered be included in the annual improvements process IASB FASB convergence An overarching joint IASB FASB project designed to eliminate a variety of differences between IFRS and US GAAP IFRIC 9 Scope of IFRIC 9 and revised IFRS 3 Completed 2009 After initially being exposed in a separate exposure draft an amendment to IFRIC 9 was included in Improvements to IFRSs issued on 16 April 2009 IFRIC 14 Voluntary prepaid contributions under a minimum funding requirement Completed 2009 The IASB issued Prepayments of a Minimum Funding Requirement Amendments to IFRIC 14 on 26 November 2009 IFRIC 15 Meaning of continuous transfer An IFRIC Interpretations Committee project to consider whether decisions reached in the IASB s revenue recognition project could provide insight into clarification of the meaning of continuous transfer under IFRIC 15 Agreements for the Construction of Real Estate IFRIC 16 Amendment to the restriction on the entity that can hold hedging instruments Completed 2009 An amendment to IFRIC 16 was included in Improvements to IFRSs issued on 16 April 2009 IFRS 1 Additional exemptions for first time adopters Completed 2009 The IASB issued Additional Exemptions for First time Adopters Amendments to IFRS 1 on 23 July 2009 IFRS 1 Exemption from comparative IFRS 7 disclosures Completed 2010 The IASB issued Limited Exemption from Comparative IFRS 7 Disclosures for First time Adopters Amendment to IFRS 1 on 28 January 2010 IFRS 1 Government loans Completed in 2012 The IASB issued Government Loans Amendments to IFRS 1 on 13 March 2012 IFRS 1 Replacement of fixed dates Completed 2010 The IASB issued Severe Hyperinflation and Removal of Fixed Dates for First time Adopters on 20 December 2010 IFRS 1 Severe hyperinflation Completed 2010 The IASB issued Severe Hyperinflation and Removal of Fixed Dates for First time

    Original URL path: http://www.iasplus.com/en/projects/completed (2016-02-10)
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  • Items not added to the agenda
    to the agenda IAS 7 Items not added to the agenda IAS 8 Items not added to the agenda IAS 10 Items not added to the agenda IAS 11 Items not added to the agenda IAS 12 Items not added to the agenda IAS 14 Items not added to the agenda IAS 16 Items not added to the agenda IAS 17 Items not added to the agenda IAS 18 Items not added to the agenda IAS 19 Items not added to the agenda IAS 20 Items not added to the agenda IAS 21 Items not added to the agenda IAS 23 Items not added to the agenda IAS 24 Items not added to the agenda IAS 26 Items not added to the agenda IAS 27 Items not added to the agenda IAS 28 Items not added to the agenda IAS 29 Items not added to the agenda IAS 31 Items not added to the agenda IAS 32 Items not added to the agenda IAS 33 Items not added to the agenda IAS 34 Items not added to the agenda IAS 36 Items not added to the agenda IAS 37 Items not added to the agenda IAS 38 Items not added to the agenda IAS 39 Items not added to the agenda IAS 40 Items not added to the agenda IAS 41 Items not added to the agenda IFRIC 21 Items not added to the agenda IFRS 1 Items not added to the agenda IFRS 2 Items not added to the agenda IFRS 3 Items not added to the agenda IFRS 4 Items not added to the agenda IFRS 5 Items not added to the agenda IFRS 6 Items not added to the agenda IFRS 7 Items not added to the agenda IFRS 8 Items not added to the agenda IFRS

    Original URL path: http://www.iasplus.com/en/projects/not-added (2016-02-10)
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  • Annual improvements — 2014-2016 cycle
    and wording or to correct for relatively minor unintended consequences conflicts or oversights Amendments are made through the annual improvements process when the amendment is considered non urgent but necessary This page tracks developments in the annual improvements process for the 2014 2016 cycle This cycle formally commenced in July 2014 and incorporates consideration of one proposed amendment identified as part of the 2013 2015 cycle which was discontinued at that time Current status of the project The IASB formally added this project to its agenda in July 2014 An exposure draft was published on 19 November 2015 with comments requested by 17 February 2016 Project milestones Date Development Comments July 2014 2014 2016 cycle formally added to IASB agenda 19 November 2015 ED 2015 10 Annual Improvements to IFRSs 2014 2016 Cycle publlished comments requested by 17 February 2016 Related Discussions IFRS implementation issues 19 May 2015 The Board reviewed various IFRS implementation issues and due process steps IFRS implementation issues 28 Apr 2015 The Board discussed 1 proposed narrow scope amendment to IAS 40 Investment Property 2 its annual improvements to IFRSs projects 3 a draft interpretation for IAS 12 Income Taxes and 4 IFRIC updates IFRS IC issues 23 Jul 2014 The Board discussed whether 1 due process of the annual improvements to IFRS 2012 2014 cycle had been completed 2 to discontinue 2013 2015 AIP cycle and initiate the 2014 2016 AIP cycle and 3 to investigate the accounting for a structure that appears to lack the physical characteristics for a building IFRS 1 Short term exemptions 12 Dec 2013 The Board discussed amendments to IFRS 1 which will delete short term exceptions to be consistent with the original IASBs intention when it added those exemptions All Related Quick links IASB annual improvements process Annual improvements

    Original URL path: http://www.iasplus.com/en/projects/narrow-scope/annual-improvements-2014-2016 (2016-02-10)
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  • Annual improvements — 2015-2017 cycle
    reviews Agenda consultations Completed projects Items not added to the agenda IFRIC Navigation Narrow scope amendments Annual improvements 2014 2016 cycle Annual improvements 2015 2017 cycle Clarifications to IFRS 15 Different effective dates of IFRS 9 and the new insurance contracts standard IAS 1 Classification of liabilities IAS 12 Accounting for uncertainties in income taxes IAS 19 IFRIC 14 Remeasurement at a plan amendment curtailment or settlement Availability of a refund of a surplus from a defined benefit plan IFRS 2 Clarifications of classification and measurement of share based payment transactions IAS 21 Foreign currency transactions and advance consideration IAS 40 Transfers of investment property Info Annual improvements 2015 2017 cycle Background The IASB s annual improvements project provides a streamlined process for dealing efficiently with a collection of amendments to IFRSs The primary objective of the process is to enhance the quality of standards by amending existing IFRSs to clarify guidance and wording or to correct for relatively minor unintended consequences conflicts or oversights Amendments are made through the annual improvements process when the amendment is considered non urgent but necessary This page tracks developments in the annual improvements process for the 2015 2017 cycle This cycle formally commenced in October 2015 Current status of the project The IASB formally added this project to its agenda in October 2015 An exposure draft is expected in 2016 at the earliest Project milestones Date Development Comments October 2015 2015 2017 cycle formally added to IASB agenda Related Discussions IFRS implementation issues 22 Oct 2015 The IASB was provided with the regular update on the most recent IFRS Interpretations Committee meeting All Related Quick links IASB annual improvements process Related news IASB updates work plan 27 Oct 2015 All Related Related Standards IAS 23 Borrowing Costs All Related Related Projects Annual improvements

    Original URL path: http://www.iasplus.com/en/projects/narrow-scope/annual-improvements-2015-2017 (2016-02-10)
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  • Clarifications arising from the post-implementation review of IFRS 8
    Meetings Standards Projects Jurisdictions Resources My IAS Plus Topics Communications Toggle navigation Search site Navigation Projects Major projects Narrow scope amendments Research projects Post implementation reviews Agenda consultations Completed projects Items not added to the agenda IFRIC Navigation Post implementation reviews Post implementation review IFRS 3 Post implementation review IFRS 8 Clarifications arising from the post implementation review of IFRS 8 Info Clarifications arising from the post implementation review of IFRS 8 Background The IASB carries out a post implementation review of each new IFRS or major amendment In July 2013 the IASB completed the post implementation review of IFRS 8 Operating Segments The final report concluded that the benefits of applying the standard were largely as expected and that overall the standard achieved its objectives and has improved financial reporting However the IASB identified a number of issues that could be considered for improvement and that warrant further investigation Current status of the project An exposure draft of changes resulting from the post implementation review is expected in the third quarter of 2015 Project milestones Date Development Comments 18 July 2013 Report and Feedback Statement Post implementation Review IFRS 8 Operating Segments published Areas for potential improvement and amendment will be considered through the IASB s normal processes May 2015 Possible clarifications arising from the post implementation review of IFRS 8 first discussed by the Board ED expected in Q3 2015 Related Discussions IFRS implementation issues 19 May 2015 The Board reviewed various IFRS implementation issues and due process steps All Related Related news IASB updates work plan 23 Nov 2015 We comment on the proposed clarifications to IFRS 15 28 Oct 2015 IASB issues work plan update 30 Jun 2015 All Related Related Standards IFRS 8 All Related Related Projects Post implementation review IFRS 8 All Related Related

    Original URL path: http://www.iasplus.com/en/projects/pir/pir-ifrs-8-follow-up (2016-02-10)
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  • Clarifications to IFRS 15: Issues emerging from TRG discussions
    guidance in their revenue standards Current status of the project The project was added to the IASB s agenda in February 2015 Amendments aimed at deferring the effective date of IFRS 15 were issued on 11 September 2015 An exposure draft containing the clarifications itself was published on 30 July 2015 Project milestones Date Development Comments February 2015 Added to the IASB s agenda 19 May 2015 ED 2015 2 Effective Date of IFRS 15 proposed amendments to IFRS 15 issued Comments requested by 3 July 2015 30 June 2015 ED 2015 6 Clarifications to IFRS 15 proposed amendments to IFRS 15 issued Comments request by 28 October 2015 11 September 2015 Effective Date of IFRS 15 issued new effective date of IFRS 15 is 1 January 2018 Related Discussions Revenue from contracts with customers 20 Jan 2016 The Board discussed the comment letters received on transition requirements and the effective date and finally to confirm whether the due process requirements were met Revenue from contracts with customers joint IASB FASB meeting 16 Dec 2015 In this session with the FASB the boards discussed the proposed amendments to principal versus agent considerations Revenue from contracts with customers 15 Dec 2015 In this session the staff presented the feedback received from the comments letters and provided their recommendations on the topics discussed in the July 2015 ED Clarifications to IFRS 15 Revenue from contracts with customers Effective date of IFRS 15 22 Jul 2015 The Board discussed feedback received on Exposure Draft Effective Date of IFRS 15 and voted on whether to finalise the deferral of the effective date of IFRS 15 by one year to 1 January 2018 Revenue recognition IASB only 25 Jun 2015 The objective of the session was to address the due process considerations and the comment letter period associated with the Exposure Draft Clarifications to IFRS 15 Revenue from Contracts with Customers Revenue recognition joint with FASB 22 Jun 2015 At their joint meeting the IASB and FASB the Boards discussed proposed amendments to the guidance in IFRS 15 Topic 606 the new revenue standard on principal versus agent considerations This topic had previously been discussed by the FASB and IASB at their joint meeting in March 2015 and by the IASB at an IASB only meeting in May 2015 Revenue recognition 28 Apr 2015 At their meeting the IASB discussed several issues relating to revenue from contracts with customers The issues discussed related to the effective date of IFRS 15 and collectability considerations This was an IASB only meeting as the FASB had previously made tentative decisions on these issues Revenue from contracts with customers 18 Mar 2015 At their joint meeting the IASB and FASB the Boards discussed several issues that were highlighted during joint IASB FASB Revenue Transition Resource Group TRG discussions The issues discussed related to practical expedients upon transition sales tax presentation gross versus net non cash consideration collectability and principal versus agent considerations These issues were referred to the Boards

    Original URL path: http://www.iasplus.com/en/projects/narrow-scope/ifrs-15-clarification (2016-02-10)
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  • Different effective dates of IFRS 9 and the new insurance contracts standard
    effective date of IFRS 9 for those activities with the effective date of the new insurance contracts standard In July 2015 the IASB tentatively decided to amend IFRS 4 Insurance Contratcs to address the consequences of different effective dates of IFRS 9 and the new insurance contracts standard In September 2015 the IASB decided to also include in the ED it intends to issue on this problem a proposal to defer IFRS 9 for insurers to 2021 Current status of the project In December 2015 the IASB issued an exposure draft proposing two different approaches for addressing the problem Project milestones Date Development Comments July 2015 IASB decides to propose amendments to IFRS 4 September 2015 IASB decides to include a proposed deferral of IFRS 9 for insurers in its ED ED expected late in 2015 9 December 2015 ED 2015 11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts Proposed amendments to IFRS 4 published Comments requested by 8 February 2016 Related Discussions Insurance and IFRS 9 21 Oct 2015 In September the IASB decided after the Chairman had exercised a casting vote to propose a package of temporary measures in relation to the application of the new financial instruments Standard IFRS 9 before the new insurance contracts Standard comes into effect At this meeting the IASB discussed how those measures would apply to first time adopters and set the comment period Insurance contracts IFRS 9 and IFRS 4 second session 23 Sep 2015 After Monday s tied vote the subject of the interaction between IFRS 9 and the forthcoming standard on insucrance contracts was discussed again on Wednesday Insurance contracts IFRS 9 and IFRS 4 first session 21 Sep 2015 The IASB discussed the consequences of the different effective dates of IFRS 9 Financial Instruments IFRS

    Original URL path: http://www.iasplus.com/en/projects/narrow-scope/ifrs-9-insurance-effective (2016-02-10)
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