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  • Conceptual Framework Phase A – Objective and qualitative characteristics
    17 May 2010 The Board discussed sweep issues from the ballot draft Conceptual Framework Phase A Objectives and Qualitative Characteristics 15 Sep 2009 The staff led the Board through a series of issues raised by Board members during their review of a pre ballot draft of final chapters on the Objectives and Qualitative Characteristics of Financial Reporting Conceptual Framework Phase A Objective and Qualitative Characteristics 19 Mar 2009 The objective of this session was to discuss concerns raised by respondents regarding the objective of financial reporting The staff introduced the topics by noting that the ED proposed that the objective of financial reporting should encompass all decisions made by capital providers of a reporting entity in their capacity as capital providers Conceptual Framework Phase A Objective and Qualitative Characteristics 20 Jan 2009 The Board commenced its redeliberations of Chapter 2 of the Exposure Draft of Phase A of the Conceptual Framework project Qualitative Characteristics and Constraints of Financial Reporting Conceptual Framework Phase A Objective and Qualitative Characteristics 16 Dec 2008 The IASB staff presented a preliminary analysis of the major issues raised by respondents to the Exposure Draft of Chapters 1 and 2 of the IASB Framework which addressed the Objective of Financial Reporting and the Qualitative Characteristics and Constraints of Decision useful Financial Reporting Information Conceptual Framework Phase A Objective and Qualitative Characteristics and Phase D Reporting Entity 21 Apr 2008 The staff discussed Phase A and Phase D of the Conceptual Framework Conceptual Framework Phase A Exposure Draft on Objective and Qualitative Characteristics 19 Feb 2008 The Board discussed a drafting issue related to the forthcoming Exposure Draft ED of Phase A of the Framework Conceptual Framework Phase A Objective and Qualitative Characteristics 13 Dec 2007 At this meeting the Board discussed three options in relation to the replacement of the term reliability with faithful representation and in particular its implications for the recognition criteria in paragraph 86 of the existing Framework which deal with the reliability of measurements Conceptual Framework Phase A Objective and Qualitative Characteristics 16 Oct 2007 The Board discussed the following issues on how will new chapters fit with the existing Framework amendments to other parts of the Framework consequential amendments to existing IFRSs effective date and the objective of financial reporting Conceptual Framework Phase A Objective and Qualitative Characteristics 19 Sep 2007 The staff presented a revised objective of financial reporting for the forthcoming exposure draft in order to address constituents concerns about the role of stewardship in financial reporting Conceptual Framework Phase A Objective and Qualitative Characteristics 20 Jun 2007 Following the analysis of comments received related to the Discussion Paper DP Preliminary Views on an Improved Conceptual Framework for Financial Reporting The Objective of Financial Reporting and Qualitative Characteristics of Decision Useful Financial Reporting Information the staff presented issues requiring decisions by the Board Conceptual Framework Phase A Objective and Qualitative Characteristics and Phase G Application to Not For Profit Entities 18 Apr 2007 During the meeting the Board discussed the

    Original URL path: http://www.iasplus.com/en/projects/completed/framework/framework-a (2016-02-10)
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  • Conceptual Framework Phase E — Presentation and disclosure
    G Application to not for profit entities Conceptual Framework Phase H Remaining issues Info Conceptual Framework Phase E Presentation and disclosure As a result of the IASB s Agenda Consultation project the IASB decided to reactivate the Conceptual Framework project as an IASB only comprehensive project We have created a separate page for this new project Background At their joint meeting in October 2004 the IASB and the US FASB decided to add to their respective agendas a joint project to develop a common conceptual framework based on and built on both the existing IASB Framework and the FASB Conceptual Framework that both Boards would use as a basis for their accounting standards The joint Conceptual Framework project is being conducted in eight phases Phase E seeks to determine the concepts underlying display and disclosure of financial information including the boundaries of such information that will achieve the objective of general purpose financial reporting Current status of the project The IASB and FASB did not deliberate this phase of the project As a result of the IASB s Agenda Consultation project the IASB decided in September 2012 to reactivate the Conceptual Framework project as an IASB only comprehensive project This project will consider the elements of financial statements measurement reporting entity presentation and disclosure Project milestones Date Development Comments October 2004 Comprehensive project added to the active agenda September 2012 Project discontinued and replaced by IASB only comprehensive project Related Discussions Conceptual framework Presentation and disclosure 25 Apr 2013 The Board discussed the materiality concept in the presentation and disclosure chapter of the conceptual framework Conceptual framework 28 Sep 2012 The staff presented their proposals to the Board as to how to approach the project on the conceptual framework The staff recommended that the conceptual framework project should focus on

    Original URL path: http://www.iasplus.com/en/projects/completed/framework/framework-e (2016-02-10)
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  • Conceptual Framework Phase C — Measurement
    and addition of a third principle Conceptual Framework Initial and subsequent measurement 21 Feb 2013 The Board was presented by the staff an early draft of the section on initial and subsequent measurement that would be included in the Conceptual Framework discussion paper Conceptual Framework Education session IASB only 13 Dec 2012 The Board held an education session regarding measurement and liabilities equity within the conceptual framework project Conceptual framework 28 Sep 2012 The staff presented their proposals to the Board as to how to approach the project on the conceptual framework The staff recommended that the conceptual framework project should focus on elements of financial statements measurement reporting entity presentation and disclosure They also noted that the aim would be to work towards a single discussion paper covering all of the areas rather than the previous joint IASB and FASB phase project on the conceptual framework rather than separate discussion papers for each area Cross cutting issues Taking uncertainty into account in the measurement of an asset or liability 17 Feb 2011 The IASB and FASB held an education session held an education session to understand and evaluate different ways of addressing the uncertainty that arises when 1 an asset or a liability is measured by reference to future cash flows 2 the future cash flows are uncertain e g there is a range of possible outcomes Conceptual framework Measurement 21 Jul 2010 The IASB was presented with three questions 1 What are the implications of the objective of financial reporting for measurement 2 What are the general implications of the fundamental qualitative characteristics of useful information for measurement 3 What should the measurement chapter accomplish Conceptual Framework Phase C Measurement 04 May 2010 The Boards discussed the next step in the measurement chapter of the conceptual framework Conceptual Framework Phase C Measurement 16 Dec 2009 The Boards discussed an updated draft of a new measurement chapter Also the Boards discussed the concepts that might be included in a discussion paper Credit Risk in Liability Measurement 21 Oct 2009 At that meeting the Board decided to stop work on credit risk in liability measurement as separate project and not to reach a general conclusion on credit risk at this time Instead the issues will be incorporated into the Conceptual Framework Measurement project Conceptual Framework Phase C Measurement 17 Jun 2009 The Board discussed a draft chapter on measurement that might form the basis of a joint IASB FASB discussion paper The sample chapter very basic it did not include a basis for conclusions or other supporting material that would be included in an actual measurement chapter Conceptual Framework Phase C Measurement 20 Mar 2009 The Board held a lively if inconclusive discussion of an aspect of the measurement chapter of the proposed conceptual framework The staff continues to develop issues for inclusion in a discussion paper Conceptual Framework Phase C Measurement 20 Jan 2009 The Board continued its discussions of the chapter of the Framework devoted to measurement No

    Original URL path: http://www.iasplus.com/en/projects/completed/framework/framework-c (2016-02-10)
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  • Conceptual Framework Phase B — Elements and recognition
    on this phase of the project but no due process documents were issued As a result of the IASB s Agenda Consultation project the IASB decided in September 2012 to reactivate the Conceptual Framework project as an IASB only comprehensive project This project will consider the elements of financial statements measurement reporting entity presentation and disclosure Project milestones Date Development Comments October 2004 Comprehensive project added to the active agenda September 2012 Project discontinued and replaced by IASB only comprehensive project Related Discussions Conceptual framework Recognition and derecognition 26 Apr 2013 The Board discussed the relationship between relevance and faithful representation in the context of recognition and derecognition Conceptual framework Elements of financial statements 24 Apr 2013 The Board discussed changes from the previous draft where 1 control was moved back in the asset s definition 2 past events were moved back in the liability s definition and 3 a new conclusion was included in the discussion about the existence uncertainty Conceptual Framework Elements of financial statements 21 Feb 2013 The Board was presented by the staff an early draft of the section on the definition of equity and the distinction between liabilities and equity instruments that would be included in the Conceptual Framework discussion paper Conceptual framework 28 Sep 2012 The staff presented their proposals to the Board as to how to approach the project on the conceptual framework The staff recommended that the conceptual framework project should focus on elements of financial statements measurement reporting entity presentation and disclosure They also noted that the aim would be to work towards a single discussion paper covering all of the areas rather than the previous joint IASB and FASB phase project on the conceptual framework rather than separate discussion papers for each area Conceptual Framework Phase B Elements and Recognition 20 Jun 2008 Before the staff could introduce the topic a Board member challenged the meeting s working definition of a liability which he saw as precluding performance obligations and thus contrary to the Board s work in the revenue section of the Framework project In his view the clause addressing economic obligations displayed tortured reasoning Conceptual Framework Phase B Elements and Recognition 13 Dec 2007 The Board discussed the way forward regarding the definition of a liability The staff noted that Phase B of the Conceptual Framework overlaps with the Liabilities and Equity project and raised the concern that this may result in issuing two contradictory discussion papers Conceptual Framework Phase B Elements and Recognition 16 Oct 2007 The Board continued its discussion of the definition of an asset The objective of the discussion was to decide on a definition that could be used as a working definition of an asset as the Board proceeds with other aspects of Phase B of the Conceptual Framework project Conceptual Framework Phase B Elements and Recognition 17 Jul 2007 The purpose of this discussion was to summarise the status of the project and to agree on the next steps The staff presented

    Original URL path: http://www.iasplus.com/en/projects/completed/framework/framework-b (2016-02-10)
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  • Conceptual Framework Phase D — Reporting entity
    They also noted that the aim would be to work towards a single discussion paper covering all of the areas rather than the previous joint IASB and FASB phase project on the conceptual framework rather than separate discussion papers for each area Conceptual Framework the reporting entity 17 Nov 2010 The IASB and FASB discussed whether to revise its project timeline for completion of the reporting entity phase of the conceptual framework project and also discussed the following issues 1 the entity versus proprietary perspective and 2 the requirement for combined financial statements Technical plan 17 Nov 2010 The IASB and FASB briefly discussed the timing of each of the Memorandum of Understanding MOU joint projects in preparation for the intended issue of an updated technical plan Three projects were discussed in detail financial instruments discontinued operations and the Conceptual Framework Conceptual framework Phase D Reporting entity 22 Oct 2010 The staff presented an analysis of comment letters from the recent ED Conceptual Framework for Financial Reporting The Reporting Entity The feedback from the exposure draft was generally positive nonetheless constituents raised several significant issues that need to be re deliberated No formal decisions were made at this meeting Conceptual Framework Phase D Reporting Entity 15 Sep 2009 The Board gave direction to the staff preparing the exposure draft of the Reporting Entity chapter of the Framework as follows Conceptual Framework Phase D Reporting Entity 21 May 2009 The staff recommended that the length of the comment period for the Exposure Draft on the Reporting Entity Chapter of the Conceptual Framework be 120 days The Board agreed Conceptual Framework Phase D Reporting Entity 19 Mar 2009 The staff introduced the topics by noting that the objective of the meeting is to redeliberate the issues related to control of an entity included in the May 2008 Discussion Paper The DP presented the Board s preliminary view that control of an entity should be defined at the conceptual level Most respondents agreed with the Board s preliminary view Conceptual Framework Phase D Reporting Entity 20 Jan 2009 The Board discussed various issues raised by respondents to the Board s Discussion Paper Preliminary Views on an Improved Conceptual Framework for Financial Reporting The Reporting Entity The decisions made in this session will be accommodated in the next phase of this project which is an exposure draft due later in 2009 Conceptual Framework Phase D Reporting Entity 18 Nov 2008 The IASB staff presented its summary of comments received on the Discussion Paper The Reporting Entity The session was essentially an educational one and no decisions were made The staff summary is available in Agenda Paper 4 for this meeting The staff highlighted several of the high level findings but did not discuss them to any extent Conceptual Framework Phase A Objective and Qualitative Characteristics and Phase D Reporting Entity 21 Apr 2008 The staff discussed Phase A and Phase D of the Conceptual Framework Conceptual Framework Phase D Discussion Paper on Reporting Entity

    Original URL path: http://www.iasplus.com/en/projects/completed/framework/framework-d (2016-02-10)
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  • Conceptual Framework Phase H — Remaining issues
    Elements and recognition Conceptual Framework Phase C Measurement Conceptual Framework Phase D Reporting entity Conceptual Framework Phase E Presentation and disclosure Conceptual Framework Phase F Purpose and status Conceptual Framework Phase G Application to not for profit entities Conceptual Framework Phase H Remaining issues Info Conceptual Framework Phase H Remaining issues Background At their joint meeting in October 2004 the IASB and the US FASB decided to add to their respective agendas a joint project to develop a common conceptual framework based on and built on both the existing IASB Framework and the FASB Conceptual Framework that both Boards would use as a basis for their accounting standards The Conceptual Framework project is being conducted in eight phases Phase H will consider any residual issues after completion of the other phases Current status of the project Deliberations have not begun on this phase of the project As a result of the IASB s Agenda Consultation project the IASB decided in September 2012 to reactivate the Conceptual Framework project as an IASB only comprehensive project This project will consider the elements of financial statements measurement reporting entity presentation and disclosure The IASB will not consider the aspects originally intended to be deliberated in this phase as the remaining topics to be considered as part of the IASB only project are intended to be developed and issued together Project milestones Date Development Comments October 2004 Comprehensive project added to the active agenda September 2012 Project discontinued when the overall IASB FASB project was replaced by IASB only comprehensive project Related Discussions Conceptual framework 28 Sep 2012 The staff presented their proposals to the Board as to how to approach the project on the conceptual framework The staff recommended that the conceptual framework project should focus on elements of financial statements measurement reporting

    Original URL path: http://www.iasplus.com/en/projects/completed/framework/framework-h (2016-02-10)
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  • Conceptual Framework Phase G — Application to not-for-profit entities
    Remaining issues Info Conceptual Framework Phase G Application to not for profit entities Background At their joint meeting in October 2004 the IASB and the US FASB decided to add to their respective agendas a joint project to develop a common conceptual framework based on and built on both the existing IASB Framework and the FASB Conceptual Framework that both Boards would use as a basis for their accounting standards The Conceptual Framework project is being conducted in eight phases Phase G will consider the applicability of the concepts developed in earlier phases to not for profit entities in the private sector Current status of the project The IASB and FASB did not deliberate this phase of the project As a result of the IASB s Agenda Consultation project the IASB decided in September 2012 to reactivate the Conceptual Framework project as an IASB only comprehensive project This project will consider the elements of financial statements measurement reporting entity presentation and disclosure The IASB only project will not encompass further work on this phase as the current focus of the IASB is on business entities in the private sector Project milestones Date Development Comments October 2004 Comprehensive project added to the active agenda September 2012 Project discontinued when the overall IASB FASB project was replaced by IASB only comprehensive project Related Discussions Conceptual framework 28 Sep 2012 The staff presented their proposals to the Board as to how to approach the project on the conceptual framework The staff recommended that the conceptual framework project should focus on elements of financial statements measurement reporting entity presentation and disclosure They also noted that the aim would be to work towards a single discussion paper covering all of the areas rather than the previous joint IASB and FASB phase project on the conceptual

    Original URL path: http://www.iasplus.com/en/projects/completed/framework/framework-g (2016-02-10)
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  • Consolidation — Comprehensive project
    2012 meeting the IASB discussed a whether to extend the exception to consolidation to an insurer s insurance investment fund subsidiaries b the reassessment requirements c the disclosure requirements d the transition requirements and effective date e other sweep issues and f whether all due process steps had been followed in the Investment Entities project Consolidation Investment Entities 16 Jul 2012 The Boards discussed the definition of an investment company Consolidation and joint arrangements Effective dates and transition 15 Feb 2011 The IASB considered the effective date and early application of the forthcoming IFRS 10 IFRS 11 IFRS 12 IAS 27 revised 2011 and IAS 28 revised 2011 unanimously agreeing to require an effective date of 1 January 2013 with early application permitted if all five standards are early adopted and limited retrospective application Consolidation Potential voting rights when assessing significant influence 20 Jan 2011 The IASB considered whether the existing language in IAS 28 regarding potential voting rights should be amended to be consistent with the forthcoming IFRS 10 Consolidated Financial Statements Consolidation 15 Dec 2010 The IASB 1 discussed a summary of the feedback received from participants during the FASB s two public roundtables held in November 2010 2 debated the effective date for IFRSs on consolidation joint arrangements and disclosure of involvement with other entities Consolidation 12 Nov 2010 The Board discussed the proposed finalisation of the IFRS on consolidation Consolidation 26 Aug 2010 Some key discussion points include IASB deliberations have concluded barring any sweep issues identified in drafting a Staff Draft of the final IFRS will be available on or around 23 September on the IASB s Website FASB will hold a roundtable in Norwalk on 25 October concentrating on variable interest entities the IASB s Investment Companies ED is expected in late September 2010 and will have a 120 day comment period a Staff Draft of the Joint Arrangements IFRS will also be available publicly in late September Consolidation 22 Jul 2010 In the last step of the consolidation standard the staff discussed with the IASB various disclosure issues raised Consolidation 01 Jun 2010 The Boards discussed staff proposals for disclosure principles that might put into effect the disclosure objective agreed at a previous meeting Consolidation 01 Jun 2010 The IASB debated whether to require investment companies to make a disclosure similar to that which is currently required by US GAAP a financial highlights schedule Consolidation 19 May 2010 The Boards considered the implications of the decision to provide a fair value exception from consolidation to investment companies for associates and joint ventures Consolidation 19 May 2010 The Board agreed that the IFRS on Consolidation would address the situation in which a controlled investee of a consolidated investment company holds an equity interest in the ultimate parent Consolidation 04 May 2010 The Boards discussed the disclosure package for investment companies Consolidation 20 Apr 2010 The Boards continued their discussions from the February joint meeting in assessing how an investment company should account for its

    Original URL path: http://www.iasplus.com/en/projects/completed/consol/consolidation (2016-02-10)
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