archive-com.com » COM » I » IASPLUS.COM

Total: 1447

Choose link from "Titles, links and description words view":

Or switch to "Titles and links view".
  • Annual improvements — 2006-2008 cycle
    provides a vehicle for making non urgent but necessary amendments to IFRSs This page deals with improvements that were included in the 2006 2008 cycle A number of issues from this cycle were held over to the annual improvements 2007 2009 cycle Current status of the project This project has been completed The IASB issued Improvements to IFRSs on 22 May 2008 Full details of the amendments are available in our IAS Plus newsletter Improvements to International Financial Reporting Standards 2008 Project milestones Date Development Comments 11 October 2007 Exposure Draft Improvements to International Financial Reporting Standards published Comment deadline 11 January 2008 22 May 2008 Improvements to IFRSs issued Effective for annual periods beginning on or after either 1 January 2009 or 1 July 2009 Related Discussions Annual improvements 17 Jul 2007 The IASB considered a number of potential amendments under its annual improvements process including IFRS 5 subsidiary held for sale IAS 41 replanting obligations IAS 36 disclosures for value in use and fair value less costs to sell IAS 17 classification of leases of land and buildings IAS 10 dividends declared after balance sheet date IAS 19 plan administration costs IAS 23 definition of borrowing costs IAS 34 earnings per share disclosures and IAS 1 compliance with IFRSs IFRS 5 Plan to sell the controlling interest in a subsidiary 04 May 2007 The IFRIC discussed whether it should provide guidance on applying IFRS 5 Non current Assets Held for Sale and Discontinued Operations when an entity is committed to a plan to sell the controlling interest in a subsidiary All Related Quick links IASB annual improvements process Annual improvements 2007 2009 cycle Related news Latest IASB Investor Perspectives published 16 Dec 2012 Deloitte webcast on global financial reporting 06 Aug 2010 IASB amends 12 IFRSs 15 Apr

    Original URL path: http://www.iasplus.com/en/projects/completed/aip/annual-improvements-2006-2008 (2016-02-10)
    Open archived version from archive


  • Annual improvements — 2007-2009 cycle
    discontinued operations IFRS 8 Operating Segments Disclosure of information about segment assets IAS 1 Presentation of Financial Statements Current non current classification of convertible instruments IAS 7 Statement of Cash Flows Classification of expenditures on unrecognised assets IAS 17 Leases Classification of leases of land and buildings IAS 18 Revenue Determining whether an entity is acting as a principal or as an agent IAS 36 Impairment of Assets Unit of accounting for goodwill impairment test IAS 38 Intangible Assets Additional consequential amendments arising from revised IFRS 3 Measuring the fair value of an intangible asset acquired in a business combination IAS 39 Financial Instruments Recognition and Measurement Treating loan prepayment penalties as closely related embedded derivatives Scope exemption for business combination contracts Cash flow hedge accounting IFRIC 9 Reassessment of Embedded Derivatives Scope of IFRIC 9 and revised IFRS 3 IFRIC 16 Hedges of a Net Investment in a Foreign Operation Amendment to the restriction on the entity that can hold hedging instruments Project milestones Date Development Comments 11 October 2007 Exposure Draft Improvements to International Financial Reporting Standards published Comment deadline 11 January 2008 7 August 2008 Exposure draft Improvements to IFRSs published Comment deadline 7 November 2008 30 January 2009 Exposure Draft ED 2009 1 Post implementation Revisions to IFRIC Interpretations Proposed amendments to IFRIC 9 and IFRIC 16 issued Comment deadline 3 March 2009 16 April 2009 Improvements to IFRSs issued Effective for annual periods beginning on or after either 1 July 2009 or 1 January 2010 Related Discussions Annual Improvements Project AIP 2009 18 Dec 2008 The Board discussed 2007 AIP issues IAS 1 IAS 17 and IAS 39 and new 2009 issues IAS 18 IAS 40 and customer related intangible assets IAS 7 Classification of expenditures as investing or operating 06 Mar 2008 The IFRIC considered comment letters received on its proposals not to address the criteria for classifying expenditures as operating or investing in the statement of cash flows but instead refer the issue to the IASB as IAS 7 was considered ambiguous in this respect IAS 39 Scope of IAS 39 paragraph 2 g 02 Nov 2007 IFRIC considered a request for it to provide guidance on the appropriate interpretation of IAS 39 paragraph 2 g which exempts from the scope of IAS 39 contracts between the acquirer and a vendor in a business combination to buy or sell an acquiree at a future date IAS 39 Scope of IAS 39 paragraph 11A and AG 33 d iii 01 Nov 2007 The IFRIC considered how to proceed with two scope issues related to IAS 39 1 assessing the economic environment in which the transaction takes place in the context of determining whether a currency is commonly used in contracts to buy or sell non financial items and thus is not an embedded foreign currency derivative requiring separation 2 whether the fair value option in in paragraph 11A can be applied to all contractual arrangements with one or more embedded derivatives including contractual arrangements

    Original URL path: http://www.iasplus.com/en/projects/completed/aip/annual-improvements-2007-2009 (2016-02-10)
    Open archived version from archive

  • Annual improvements — 2008-2010 cycle
    the management intends to sell the asset IAS 28 Partial use of fair value for measurement of associates 04 Mar 2010 The staff informed the IFRIC about the decision of the IASB at the February meeting to include this amendment to IAS 28 as part of the final IFRS on Joint Ventures IAS 40 Change from the fair value model to the cost model for investment property 04 Mar 2010 The IFRIC considered the comment letters received to the proposed amendments to IAS 40 related to changes from fair value model to cost model IAS 8 Change in terminology to the qualitative characteristics 04 Mar 2010 The IFRIC considered the comment letters received to the proposed amendments to IAS 8 related to changes of terminology reflecting the changes in the Framework IFRS 5 Application of IFRS 5 to loss of significant influence over an associate or a jointly controlled entity 04 Mar 2010 The IFRIC considered application of IFRS 5 to loss of significant influence over an associate or jointly controlled entity IFRS 3 Measurement of non controlling interest NCI 04 Mar 2010 The IFRIC considered including illustrative examples related to the amendments to IFRS 3 to clarify that the option to measure NCI at the proportionate share of the acquiree s identifiable net assets should be applied only to those NCI components that are present ownership instruments and entitle their holders to a pro rata share on the entity s net assets IFRS 3 Unreplaced and voluntarily replaced share based payment transactions 04 Mar 2010 The comment letters received on the proposed amendments to IFRS 3 related unreplaced and voluntarily replaced shared based payment transactions were mostly supportive Annual improvements 2008 2010 cycle Comment letter analysis on minor issues 04 Mar 2010 The IFRIC considered the comment letters received to the proposed amendments to IFRS 1 related to Accounting policy changes in the year of adoption to IAS 27 related to Transition requirements for amendments made as result of IAS 27 2008 to IAS 21 IAS 28 and IAS 31 and to IFRIC 13 related to the Fair value of award credit Annual Improvements 2008 2009 10 Feb 2010 The Board discussed three issues that were originally part of the Annual Improvements ED published in August 2008 IAS 34 Significant events and transactions 07 Jan 2010 The IFRIC discussed the comment letters received in response to the Board proposals to amend IAS 34 to emphasise the disclosure principle and to add further guidance IAS 28 Partial use of fair value for measurement of associates 07 Jan 2010 The IFRIC discussed the comment letters received in response to the IASB proposals to allow partial use of fair value for measurement of associates in consolidated financial statements and also considered the possible impacts on IAS 31 and the IASB s joint arrangements project IFRS 7 Disclosures about the nature and extent of risks arising from financial instruments 07 Jan 2010 The IFRIC discussed the comment letters received in response to the

    Original URL path: http://www.iasplus.com/en/projects/completed/aip/annual-improvements-2008-2010 (2016-02-10)
    Open archived version from archive

  • Annual improvements — 2009-2011 cycle
    IAS 12 and IAS 34 Annual improvements comment period 15 Jun 2011 The Board considered the comment period for the upcoming exposure draft on the 2009 2011 cycle of Improvements to IFRSs agreeing to a 120 day comment period Annual improvements 2009 2011 and 2010 2012 cycles 19 May 2011 The IASB considered reassessed the items included in the 2010 2012 cycle of annual improvements against the revised criteria developed by the Trustees and added an additional item in relation to IAS 1 and as part of the 2010 2012 cycle agreed not to propose amendments on five issues related to IFRS 3 IAS 8 IAS 36 and IAS 41 IFRS 8 Reconciliation of segment assets new 05 May 2011 The IFRS Interpretations Committee agreed propose an annual improvement to create consistency between the requirements of paragraphs 29 c and 23 of IFRS 8 Annual improvements to IFRSs 2009 2011 19 Oct 2010 The IASB considered a number of potential annual improvements topics including IFRS 1 repeat application of IFRS 1 IFRS 3 regrouping and consistency of contingent consideration guidance IAS 24 key management personnel IAS 40 transfers from investment property The IASB also confirmed the assessment against the proposed annual improvement criteria and considered other matters where no amendment will be proposed Annual improvements to IFRSs 2009 2011 14 Sep 2010 The IASB discussed the recommendation of the IFRS Interpretation Committee to include in the Annual Improvements Project an issue to clarify the requirements for comparative information when an entity provides individual financial statements beyond the minimum comparative information Annual improvements 2009 2011 cycle 21 Jul 2010 The Board discussed IFRS 1 IAS 16 IAS 32 IAS 34 and IFRS 8 Annual Improvements 2009 2010 19 May 2010 Based on the request from the Trustees the Board considered revised criteria for the annual improvements process different from the current definition of non urgent but necessary amendments to IFRSs IAS 32 Clarification of the puttable instruments criteria for income trust units 07 May 2010 The IFRS Interpretations Committee considered a request for clarification on guidance relating to the classification of puttable financial instruments puts that include contractual obligations to provide pro rata distributions IAS 16 Clarification on classification of servicing equipment as inventory or property plant and equipment 07 May 2010 The Committee considered a request for improvement of IAS 16 Property Plant and Equipment with respect to servicing equipment and classification as property plant and equipment or inventory IFRS 1 Repeat application of IFRS 1 06 May 2010 The IFRS Interpretations Committee considered a request to clarify whether an entity can apply IFRS 1 First time adoption of the IFRSs more than once in a situation that an entity previously applied IFRS 1 and reported in accordance with the IFRSs in order to comply with foreign listing requirements IAS 23 Capitalisation of borrowing costs and first time adoption 06 May 2010 The Committee discussed a request to clarify the interaction of IAS 23 and IFRS 1 with respect to

    Original URL path: http://www.iasplus.com/en/projects/completed/aip/annual-improvements-2009-2011 (2016-02-10)
    Open archived version from archive

  • Annual improvements — 2010-2012 cycle
    EITF consensus and its proposed amendments on performance targets that are achieved after the related service period IFRS 2 Definition of performance condition performance target achieved after the service period 31 Oct 2013 The IASB was asked to consider whether its previous decisions around the definitions of vesting conditions and performance conditions should be reassessed in light of recent discussions of the issue by the US Emerging Issues Task Force EITF Annual Improvements 2010 2012 and 2011 2013 cycles Sweep issues 13 Sep 2013 The Board discussed constituent concerns about amendments to IAS 40 IFRS 1 and IFRS 13 Annual improvements 2010 2012 cycle 25 Jul 2013 The Board held discussions on finalising amendments to the 2010 2012 Cycle of Annual Improvements to IFRSs Annual improvements Cycle 2010 2012 IASB only 19 Jun 2013 The Board discussed the unintentional consequences of the proposal to clarify the definition of performance condition IFRS 3 Contingent consideration 22 May 2013 The Board discussed additional proposed amendments related to the subsequent measurement of contingent consideration based off of comments from the Annual Improvements to IFRSs 2010 2012 Cycle exposure draft Annual improvements 2010 2012 cycle IAS 16 38 25 Apr 2013 The Board discussed the revised proposed amendments to IAS 16 and IAS 38 recommended by the Interpretation Committee Annual improvements 2010 2012 IASB only 21 Mar 2013 The Board discussed two of the eleven proposed amendments included in the May 2012 exposure draft ED 2012 1 Annual Improvements to IFRSs 2010 2012 Cycle on the basis of constituent feedback to the proposals and the recommendations of the IFRS Interpretations Committee IAS 7 Interest paid that is capitalised 12 Mar 2013 The IFRS Interpretations Committee did not specifically discuss this issue IFRS 3 Accounting for contingent consideration in a business combination 12 Mar 2013 The IFRS Interpretations Committee considered staff analysis of the subsequent measurement basis for three different types of liability contingent consideration those being trading financial liabilities other financial liabilities and non financial liabilities Annual improvements 2010 2012 IASB only 18 Feb 2013 In May 2012 the IASB published Exposure Draft Annual Improvements to IFRSs 2010 2012 Cycle The comment period ended on 5 September 2012 The Committee deliberated the comments received on the proposed amendments at its November 2012 and January 2013 meetings At this meeting the IASB was asked to consider the Committee s recommendations on how to proceed with four of the proposed amendments regarding IFRS 2 IFRS 8 and IFRS 13 included in the May 2012 Exposure Draft IAS 24 Key management personnel services 23 Jan 2013 The IFRS Interpretations Committee considered comment letters received on the proposals included in the 2010 2012 cycle of annual improvements to extend the definition of a related party to include management entities and make other amendments to IAS 24 The Committee tentatively agreed to recommend the IASB make the amendments in the manner recommended by the staff IAS 16 IAS 38 Revaluation method proportionate restatement of accumulated depreciation 23 Jan 2013

    Original URL path: http://www.iasplus.com/en/projects/completed/aip/annual-improvements-2010-2012 (2016-02-10)
    Open archived version from archive

  • Annual improvements — 2011-2013 cycle
    for joint ventures Clarifies that IFRS 3 excludes from its scope the accounting for the formation of a joint arrangement in the financial statements of the joint arrangement itself IFRS 13 Fair Value Measurement Scope of of paragraph 52 portfolio exception Clarifies that the scope of the portfolio exception defined in paragraph 52 of IFRS 13 includes all contracts accounted for within the scope of IAS 39 Financial Instruments Recognition and Measurement or IFRS 9 Financial Instruments regardless of whether they meet the definition of financial assets or financial liabilities as defined in IAS 32 Financial Instruments Presentation IAS 40 Investment Property Clarifying the interrelationship of IFRS 3 and IAS 40 when classifying property as investment property or owner occupied property Clarifies that determining whether a specific transaction meets the definition of both a business combination as defined in IFRS 3 Business Combinations and investment property as defined in IAS 40 Investment Property requires the separate application of both standards independently of each other Project milestones Date Development Comments 20 November 2012 ED 2012 2 Annual Improvements to IFRSs 2011 2013 Cycle published Comment deadline 18 February 2013 12 December 2013 Annual Improvements to IFRSs 2011 2013 Cycle issued Effective for annual periods beginning on or after 1 July 2014 Early adoption possible and entities are permitted to early adopt any individual amendment within the cycle without early adopting all other amendments Related Discussions Annual Improvements 2010 2012 and 2011 2013 cycles Sweep issues 13 Sep 2013 The Board discussed constituent concerns about amendments to IAS 40 IFRS 1 and IFRS 13 Annual improvements Cycle 2011 2013 IASB only 19 Jun 2013 The Board discussed the incremental changes the Staff made based off of comment letters received to the four amendments to its Annual Improvements to IFRSs 2011 2013 Cycle exposure draft Annual improvements 2011 2013 cycle IFRS 1 IFRS 3 IFRS 13 and IAS 40 14 May 2013 The Committee discussed the annual improvements proposed to IFRS 1 IFRS 3 IFRS 13 and IAS 40 Due process papers IASB only 19 Oct 2012 The Board discussed the proposed amendments to IAS 28 and the annual improvements cycle 2011 2013 deciding to issue a separate exposure draft for the proposed amendments to IAS 16 and IAS 38 on revenue based depreciation and amortisation Annual improvements 2011 2013 Cycle IFRS 13 Scope of paragraph 52 27 Sep 2012 The Staff presented their recommendation that an amendment to paragraph 52 of IFRS 13 Fair Vale Measurement be included in the Annual Improvements 2011 2013 cycle IAS 7 Examples illustrating the classification of cash flows 10 Jul 2012 The Committee discussed the staff s analysis of six examples that illustrate the classification of cash flows which was aimed at testing the principle using the first principle as the primary guidance principle for classification of the cash flows noted above and to determine how existing guidance in IAS 7 could be clarified Issues from the IFRS Interpretations Committee 14 Jun 2012 The IASB discussed

    Original URL path: http://www.iasplus.com/en/projects/completed/aip/annual-improvements-2011-2013 (2016-02-10)
    Open archived version from archive

  • Annual improvements — 2012-2014 cycle
    rate for post employment benefits should be denominated in the same currency as the benefits to be paid thus the depth of the market for high quality corporate bonds should be assessed at currency level IAS 34 Interim Financial Reporting Disclosure of information elsewhere in the interim financial report Clarifies the meaning of elsewhere in the interim report and requires a cross reference Project milestones Date Development Comments December 2012 2012 2014 cycle formally added to IASB agenda 11 December 2013 ED 2013 11 Annual Improvements to IFRSs 2012 2014 Cycle published Comment deadline 13 March 2014 25 September 2014 Annual Improvements to IFRSs 2012 2014 Cycle issued Effective for annual periods beginning on or after 1 January 2016 early adoption permitted Related Discussions 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 Annual Improvements 2012 2014 cycle 18 Jun 2014 The IASB discussed the final recommendations put forward by the IFRS Interpretations Committee on the Annual Improvements to IFRSs 2012 2014 cycle The recommendation was to go ahead and finalise all amendments as proposed The IASB agreed with the recommendations and is expected to be issue the final amendments in the second half of 2014 with an effective date of 1 January 2016 Annual improvements 2012 2014 cycle 14 May 2014 The Committee discussed comment letters on ED 2013 11 Annual Improvements to IFRSs 2012 2014 Cycle Annual improvements 2012 2014 cycle 20 Nov 2013 The Board was provided with a summary of the project and approved the due process procedures and agreed to a 90 day comment period IFRS 7 Applicability of the Amendments to IFRS 7 to condensed interim financial statements 31 Oct 2013 The IASB agreed with an IFRS Interpretations Committee recommendation to propose an annual improvement amendment to IFRS 7 to clarify that the additional disclosure on offsetting financial assets and financial liabilities required by amendments of IFRS 7 is not required in condensed interim financial statements for all interim periods unless its inclusion would be required by IAS 34 IAS 19 Determination of the discount rate in a regional market consisting of multiple countries sharing the same currency 31 Oct 2013 The IASB considered whether to include in the annual improvements process a proposal to clarify that in determining the discount rate used under IAS 19 an entity includes high quality corporate bonds issued by entities operating in other countries provided that these bonds are issued in the currency in which the benefits are to be paid IFRS 5 Change of disposal method 31 Oct 2013 The IASB considered including in the annual improvements 2012 2014 cycle a proposal for amendments to IFRS 5 to clarify the accounting for a change in a disposal plan

    Original URL path: http://www.iasplus.com/en/projects/completed/aip/annual-improvements-2012-2014 (2016-02-10)
    Open archived version from archive

  • Annual improvements — 2013-2015 cycle
    Annual improvements 2008 2010 cycle Annual improvements 2009 2011 cycle Annual improvements 2010 2012 cycle Annual improvements 2011 2013 cycle Annual improvements 2013 2015 cycle Improvements to existing International Accounting Standards 2001 2003 Annual improvements 2012 2014 cycle Info Annual improvements 2013 2015 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 2013 2015 cycle Current status of the project The 2013 2015 cycle of annual improvements was formally added to the IASB work plan in December 2013 and discontinued in 2014 The IASB decided at its July 2014 meeting to discontinue the 2013 2015 cycle of annual improvements in favour of a new 2014 2016 cycle The one proposed amendment identified as part of the 2013 2015 cycle will be considered as part of the 2014 2016 cycle Project milestones Date Development Comments December 2013 2013 2015 cycle formally added to IASB agenda July 2014 IASB decided to discontinue the 2013 2015 cycle Related Discussions 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

    Original URL path: http://www.iasplus.com/en/projects/completed/aip/aip-2013-2015 (2016-02-10)
    Open archived version from archive



  •