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  • Financial instruments — Disclosures
    rights issues IAS 32 Members shares in co operative entities IAS 32 Puttable financial instruments IAS 32 IAS 39 Improvements to IASC financial instruments standards IAS 39 Cash flow hedge accounting of forecast intragroup transactions IAS 39 Exposures qualifying for hedge accounting IAS 39 Fair value option IAS 39 Macro hedging IAS 39 Reassessment of embedded derivatives IAS 39 Transition and day 1 profit recognition IAS 39 IAS 32 Debt to equity swaps IAS 39 IAS 37 Credit risk in liability measurement IAS 39 IFRS 4 Financial guarantee contracts and credit insurance IAS 39 IFRS 7 Reclassification of financial assets IAS 39 IFRS 9 Novation of OTC derivatives and continuing designation for hedge accounting IFRIC 16 Amendment to the restriction on the entity that can hold hedging instruments IFRIC 9 Scope of IFRIC 9 and revised IFRS 3 IFRS 7 Disclosures about investments in debt instruments IFRS 7 Improved disclosures about financial instruments Financial instruments General hedge accounting Financial instruments Impairment Financial instruments Limited reconsideration of IFRS 9 IAS 32 Put options over non controlling interests NCIs Info Financial instruments Disclosures Background This project had started out to develop a Standard on presentation and disclosure in the financial statements of entities that carry out deposit taking lending or securities business activities The Standard would replace IAS 30 Disclosures in the Financial Statements of Banks and Similar Financial Institutions Reconsideration of IAS 30 is necessary particularly in light of developments in the industry and the issuance of IAS 1 revised 1997 Presentation of Financial Statements and IAS 39 Financial Instruments Recognition and Measurement However in late 2002 the IASB made a fundamental change in the direction of this project The project then became more broadly a project on disclosure of qualitative information about risk exposures arising from financial instruments quantitative data based on management s risk management system minimum disclosures about credit risk liquidity risk and market risk including interest rate risk As the approach to the project shifted so has the name of the project It has progressed through the following Disclosure and presentation by banks and similar financial institutions Financial activities deposit taking lending and securities activities Disclosure and presentation Disclosures of risks arising from and other disclosures relating to financial instruments Current status of the project This project has been completed IFRS 7 Financial Instruments Disclosures and Capital Disclosures Amendments to IAS 1 were issued on 18 August 2005 Project milestones Date Development Comments 22 July 2004 Exposure Draft ED 7 Financial Instruments Disclosures published Comment deadline 22 October 2004 18 August 2005 IFRS 7 Financial Instruments Disclosures Effective for annual periods beginning on or after 1 January 2007 18 August 2005 Capital Disclosures Amendments to IAS 1 issued Effective for annual periods beginning on or after 1 January 2007 Quick links IFRS 7 Financial Instruments Disclosures IAS 1 Presentation of Financial Statements Related news EFRAG publishes endorsement advice and effects study reports 06 Apr 2012 The Bruce Column Cluttering up the materiality arguments 19 Apr 2011 CESR

    Original URL path: http://www.iasplus.com/en/projects/completed/fi/fi-disclosures (2016-02-10)
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  • Financial instruments — Impairment
    deadline 1 April 2011 7 March 2013 Exposure Draft ED 2013 3 Financial Instruments Expected Credit Losses published Comment deadline 5 July 2013 24 July 2014 IASB issues IFRS 9 Financial Instruments IFRS 9 2014 was issued as a complete standard including the requirements previously issued and the additional amendments to introduce a new expected loss impairment model and limited changes to the classification and measurement requirements for financial assets This amendment completes the IASB s financial instruments project and the Standard is effective for reporting periods beginning on or after 1 January 2018 with early adoption permitted subject to local endorsement requirements Related Discussions IASB activities update 24 Feb 2014 IASB Chairman Hans Hoogervorst and others from the IASB provided an update on recent IASB activities Financial instruments Impairment including effective date of IFRS 9 20 Feb 2014 The IASB discussed the due process process requirements for the chapter on impairment and whether the balloting process can begin In addition the Board discussed the mandatory effective date of IFRS 9 Financial instruments Impairment 23 Jan 2014 The IASB concluded its redeliberations on the clarifications and enhancements to the proposals in the Exposure Draft Financial Instruments Expected Credit Losses The IASB considered the proposed presentation and disclosure requirements in the ED Financial instruments Impairment 12 Dec 2013 The Board was presented with a summary of the discussions to date as regards loan commitments and financial guarantee contracts and discussed the transition requirements Financial instruments Impairment 21 Nov 2013 Financial instruments Impairment 31 Oct 2013 During this session the IASB discussed when to recognise lifetime expected credit losses operational simplifications measurement of expected credit losses and modifications IASB Chairman and Senior Technical Directors reports 17 Oct 2013 The IFRS Foundation Trustees received a report from Mr Hoogervorst IASB Chair and senior technical directors An update on the operation of the Accounting Standards Advisory Forum ASAF was received and various IASB projects were discussed Financial instruments Impairment IASB FASB 17 Sep 2013 The Boards each began re deliberations of their respective expected credit loss models Both Boards participated in the discussions but each Board only made decisions on their respective papers Impairment IASB and FASB 23 Jul 2013 The Board discussed feedback from outreach activities field work and comment letters on the proposals in Exposure Draft Financial Instruments Expected Credit Losses as well as constituents feedback on the FASB impairment proposals IASB projects review 10 Jun 2013 Sue Lloyd and Alan Teixeira provided the IFRS Advisory Council with a review the current work of the IASB Update from the IASB 11 Apr 2013 A report was given by Chairman Hans Hoogervorst on the Accounting Standards Advisory Forum the Effects Analysis working group and updates on current projects Impairment 09 Apr 2013 The ASAF was presented with a high level summary by the IASB and FASB staff of their respective Impairment proposals Insurance contracts 14 Dec 2012 The Board discussed and decided on the residual margin measurement of insurance contracts and the impairment

    Original URL path: http://www.iasplus.com/en/projects/completed/fi/fi-impairment (2016-02-10)
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  • Financial statement presentation — Other comprehensive income
    of the comprehensive project on financial statement presentation Current status of the project This project has been completed but the option of using two statements has ultimately been retained The IASB issued Presentation of Items of Other Comprehensive Income Amendments to IAS 1 on 16 June 2011 Project milestones Date Development Comments October 2009 Added to the IASB s active agenda 27 May 2010 Exposure Draft ED 2010 5 Presentation of Items of Other Comprehensive Income Comment deadline 30 September 2010 6 June 2011 Staff draft of amendments to IAS 1 published 16 June 2011 Presentation of Items of Other Comprehensive Income Amendments to IAS 1 published Applicable to annual periods beginning on or after 1 July 2012 Related Discussions Financial statement presentation Other comprehensive income 02 Jun 2011 The IASB discussed the effective date of the forthcoming comprehensive income amendments to IAS 1 Post employment benefits and other comprehensive income effective dates 17 Mar 2011 The IASB reconfirmed their previous decisions on effective date and transition requirements for the projects on other comprehensive income and post employment benefit plans Financial statement presentation Other comprehensive income 17 Nov 2010 The IASB and FASB continued their discussions on the presentation of comprehensive income project considering a detailed analysis of respondent feedback and voting unanimously to permit the staff to begin the drafting and balloting process for the final standard Financial statement presentation other comprehensive income 12 Nov 2010 The Board discussed the exposure draft on other comprehensive income ED 2010 5 Other comprehensive income Comment letter analysis 22 Oct 2010 The Boards considered the summary of comment letters from the ED Presentation of Items of Other Comprehensive Income Almost all the discussion focussed on the requirement to present a single performance statement with two sections Other comprehensive income Comment letter analysis 19 Oct 2010 The staff presented the IASB with a summary of the comment letters in response to Exposure Draft Presentation of Items of Other Comprehensive Income which closed on 30 September 2010 The Board received 139 comment letters from various constituents across all geographic regions Financial Statements Presentation including OCI 26 Aug 2010 The European standard setters are not in favour of the financial statement presentation proposals in relation to other comprehensive income with concern expressed they could create confusion in the marketplace Presentation of Comprehensive Income 04 May 2010 The Boards discussed the title of the statement of comprehensive income Financial Statement Presentation Statement of Comprehensive Income 02 Feb 2010 The Boards considered and confirmed their decisions regarding the exposure draft that would propose to eliminate the option to present a separate income statement and statement of comprehensive income Financial Statement Presentation Other Comprehensive Income 27 Oct 2009 The Board discussed a proposal for limited scope amendment to IAS 1 Presentation of Financial Statements Financial Statement Presentation Other Comprehensive Income 22 Oct 2009 The Board discussed a proposal for a possible limited scope amendment to IAS 1 Financial Statement Presentation Financial Statement Presentation 20 Oct 2009 The Board

    Original URL path: http://www.iasplus.com/en/projects/completed/fs/fsp-oci (2016-02-10)
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  • Financial statement presentation — Financial statements and comparatives
    combinations Employee benefits Financial instruments Financial statements and disclosure First time adoption Income taxes Leases Liabilities Revenue Share based payments Other Items not added to the agenda IFRIC Navigation Financial statements and disclosure Asset disposals and discontinued operations Business reporting on the internet Disclosure initiative IAS 1 amendments Disclosure initiative Net debt Earnings per share Financial statement presentation Comprehensive project Financial statement presentation Financial statements and comparatives Financial statement presentation Other comprehensive income IAS 1 Disclosures about going concern IAS 24 State controlled entities and definition of related party IAS 34 Disclosures in interim reporting periods IFRS 5 Definition of discontinued operations IFRS for small and medium sized entities IFRS for SMEs Comprehensive review 2012 2014 Management commentary Reporting comprehensive income performance reporting Segment reporting Convergence issues Info Financial statement presentation Financial statements and comparatives Background This project forms part of the overall financial statements presentation project being undertaken jointly by the IASB and FASB This phase originally called Phase A addresses narrow differences between US GAAP and International Financial Reporting Standards IFRSs related to which financial statements should be required what requirements should exist for the presentation of comparative information Current status of the project This project have been completed The IASB issued a revised IAS 1 Presentation of Financial Statements on 6 September 2007 Project milestones Date Development Comments 16 March 2006 Exposure Draft of proposed amendments to IAS 1 Presentation of Financial Statements issued Comment deadline 17 July 2006 6 September 2007 Revised IAS 1 Presentation of Financial Statements issued Effective for annual periods beginning on or after 1 January 2009 Quick links Financial statement presentation Comprehensive project IAS 1 Presentation of Financial Statements Related news Revised IAS 1 requires statement of comprehensive income 06 Sep 2007 Interim reporting compliance checklist for 2007 18 Jun 2007 IASB

    Original URL path: http://www.iasplus.com/en/projects/completed/fs/fsp-financial-statements (2016-02-10)
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  • Financial statement presentation — Comprehensive project
    organisation as a useful resource but will not feel bound by it In November 2004 the IASB and FASB jointly appointed a new Joint International Group on Performance Reporting to assist the boards in their joint project to establish standards for presenting in the financial statements information that is useful in assessing the financial performance of a business enterprise So in a sense the project had a fresh start in November 2004 The new project is called Financial Statement Presentation This web page contains information about the joint IASB FASB project that started in November 2004 For historical purposes we have retained on a separate project page the information about the old Performance Reporting Reporting Comprehensive Income Project from 2001 to 2004 Current status of the project On June 24 2010 the IASB and FASB effectively discontinued this project deciding to engage in additional outreach activities before finishing and publishing an exposure draft To this end a staff draft of a proposed standard was published on 1 July 2010 to seek informal comment on the decisions reached to date in the project The IASB has indicated it will investigate whether the work previously done on the financial statement presentation project could form the basis of its new research project to develop a disclosure framework This revised project on financial statement presentation could be developed in parallel with the IASB s comprehensive project on the conceptual framework Project milestones Date Development Comments July 2001 Added to the agenda November 2004 Joint International Group on Performance Reporting appointed Inaugural members listed in our news article 16 October 2008 Discussion Paper Preliminary Views on Financial Statement Presentation issued Comment deadline 14 April 2009 1 July 2010 Staff Draft of Exposure Draft IFRS X Financial Statement Presentation published Formal comment not sought but input welcome Related Discussions Disclosure initiative 22 Jul 2014 The Board continued its discussions on the Disclosure Initiative The topics deliberated included a possible formation of a consultative group which was rejected feedback received on a reconciliation of liabilities related to financing activities proposed disclosures about restrictions on cash and cash equivalents rejected principles of disclosure emphasis on cross referencing as well as reinstating the FSP project affirmed 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 Financial statement presentation 01 Mar 2011 The staffs presented to the IASB and FASB the results of the additional outreach activities performed related to the proposals in the Staff Draft on financial statement presentation Financial statement presentation Update on outreach activities 22 Oct 2010 The staff provided the Board with a summary of constituent outreach activities the IASB and FASB has performed since the publication of the staff

    Original URL path: http://www.iasplus.com/en/projects/completed/fs/fsp (2016-02-10)
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  • First-time adoption of International Financial Reporting Standards
    entity that adopts an individual change in an existing body of accounting standards Some IASB constituents including public accounting firms and entities in Europe have expressed concerns about the complexity of this task and the existing guidance on first time adoption FTA The Board plans to review the existing guidance with an eye to developing an approach that is both workable and conceptually sound In SIC 8 First time Application of IASs as the Primary Basis of Accounting the Standing Interpretations Committee concluded In the period when IASs are applied in full for the first time as the primary accounting basis the financial statements of an enterprise should be prepared and presented as if the financial statements had always been prepared in accordance with the Standards and Interpretations effective for the period of first time application Therefore the Standards and Interpretations effective for the period of first time application should be applied retrospectively except when individual Standards or Interpretations require or permit a different transitional treatment or the amount of the adjustment relating to prior periods cannot be reasonably determined In theory SIC 8 achieves complete comparability between enterprises both between first time adopters of IAS and those entities already applying IAS and across all entities using IAS However the degree of comparability is subject in part to the availability of alternatives in some Standards and to determinations made about exemptions written into individual Standards for example IAS 8 49 notes that comparative information should be restated unless it is impracticable to do so and the overall exemption in SIC 8 3 b that retrospective application is not required when the amount of the adjustment relating to prior periods cannot be reasonably determined In the context of some of the practical application problems raised different enterprises converting to IAS might

    Original URL path: http://www.iasplus.com/en/projects/completed/fta/first-time-adoption (2016-02-10)
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  • IAS 1 — Disclosures about going concern
    small and medium sized entities IFRS for SMEs Comprehensive review 2012 2014 Management commentary Reporting comprehensive income performance reporting Segment reporting Convergence issues Info IAS 1 Disclosures about going concern Background A narrow scope project to clarify the disclosure requirements about the assessment of going concern in IAS 1 Presentation of Financial Statements Current status of the project This project has now been incorporated into the IASB s project on the IAS 1 disclosure initiative Related Discussions IAS 1 Disclosure requirements about an assessment of going concern 15 Jul 2014 The IFRS Interpretations Committee considered feedback on the comment letters received on its tentative agenda decision regarding disclosures required in relation to material uncertainties related to events or conditions that may cast significant doubt upon the entity s ability to continue as a going concern IAS 1 Disclosures about going concern 20 Nov 2013 The Board discussed disclosure requirements about an assessment of going concern IASB Chairman and Senior Technical Directors reports 17 Oct 2013 The IFRS Foundation Trustees received a report from Mr Hoogervorst IASB Chair and senior technical directors An update on the operation of the Accounting Standards Advisory Forum ASAF was received and various IASB projects were discussed IAS 1 Assessment of going concern IASB only 21 Mar 2013 The Board discussed the proposed amendments by the Committee seeking clarification on the disclosure requirements about the assessment of going concern in IAS 1 IAS 1 Disclosures requirements about assessment of going concern 22 Jan 2013 The staff presented a proposed draft amendment to IAS 1 After a lengthy debate the staff suggested exposing the larger subset of proposals in order to receive constituent views IAS 1 Disclosures requirements about assessment of going concern 14 Nov 2012 The Committee discussed the staff s recommendations that a other matters

    Original URL path: http://www.iasplus.com/en/projects/completed/fs/ias-1-going-concern (2016-02-10)
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  • IAS 1 — Items not added to the agenda
    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 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 9 Items not added to the agenda IFRS 10 Items not added to the agenda IFRS 11 Items not added to the agenda IFRS 12 Items not added to the agenda IFRS 13 Items not added to the agenda IFRS 14 Items not added to the agenda IFRIC 21 Items not added to the agenda IFRS Interpretations Committee agenda discussions Info IAS 1 Items not added to the agenda Background This page presents a summary of items not added to the IFRS Interpretations Committee s agenda in relation to IAS 1 Presentation of Financial Statements together with the Committee s public explanation of the reasons for not adding those items to its agenda Related Discussions IAS 1 Application issues 14 May 2014 The Committee received a request to clarify the application of some of the presentation requirements in IAS 1 including 1 presentation of expenses by function 2 presentation of additional lines headings and subtotals 3 presentation of additional statements or columns in the primary statements and 4 application of the materiality and aggregation requirements IAS 1 and IAS 12 Presentation of payments on non income taxes 09 Jul 2012 The IFRS Interpretations Committee received a request seeking clarification of whether production based royalty payments payable to one taxation authority that are claimed as an allowance against taxable profit for the computation of income tax payable to another taxation authority should be presented as an operating expense or a tax expense in the statement of comprehensive income IAS 1 Current non current classification of a callable term loan 04 Nov 2010 The Committee received a request on the classification of a liability as current or non current when the liability is not scheduled for repayment within twelve months after the reporting period but may be callable by the lender at any time without cause IAS 1 Going concern disclosure 07 Jul 2010 The Committee received a request for guidance on the disclosure requirements in IAS 1 Presentation of Financial Statements on uncertainties related to an entity s ability to continue as a going concern IAS 1 IAS 39 Current or non current presentation of derivatives classified as held for trading under IAS 39 04 May 2007 The IFRIC was asked to provide guidance on whether derivatives that are classified as held for trading in accordance with IAS 39 Financial Instruments Recognition and Measurement should be presented as current or non current

    Original URL path: http://www.iasplus.com/en/projects/not-added/ias-1-not-added (2016-02-10)
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