Timetable for IASB's Agenda Projects
Based on formal IASB announcements supplemented by comments made at recent meetings of the Board, Advisory Council, and Trustees, here is our assessment of the timetable for the IASB's: Agenda Consultation Active Agenda Projects Post-implementation Reviews Research Agenda Projects Following that is a summary of and links to Completed Projects. Abbreviations used below: ED = Exposure Draft DP = Discussion Paper There is also a link below to the IASC Foundation XBRL Project. Updates. The table below has been updated to reflect the changes outlined in the latest published IASB work plan dated 20 December 2011, and also incorporates other changes arising from IASB meetings and announcements. IASB Project Insights. Deloitte's IFRS Global Office publishes IASB Project Insights, which provides (in easily printed PDF format) a summary, by project, of the current status of projects, key decisions and proposals, 'thinking ahead' considerations for entities and the next steps in the project. IASB Project Insights can be accessed Here.
Agenda Consultation
Agenda Consultation 2011	Three-yearly public consultation to seek broad public input on the strategic direction and overall balance of IASB future work programme Agenda consultation document published 26 July 2011 Comments requested by 30 November 2011 Feedback Statement and roundtables expected first quarter of 2012 Agenda decisions expected in 2012
Active Agenda Projects
Annual Improvements to IFRSs – 2009-2011	Minor amendments to IFRSs Ongoing annual improvements process was added to agenda July 2006 ED published 22 June 2011 Comments requested by 21 October 2011 Amendments expected to be finalised in the second quarter of 2012
Annual Improvements to IFRSs – 2010-2012	Minor amendments to IFRSs ED expected first quarter of 2012
Annual Improvements to IFRSs – 2011-2013	Minor amendments to IFRSs ED expected third quarter of 2012
Common Control Transactions	Added to agenda December 2007, currently on hold IASB to consider whether to restart the project when it considers its future agenda in 2011
Conceptual Framework	Convergence project with FASB Added to IASB agenda (jointly with FASB) October 2004 Project is being addressed in eight phases: Phase A: Objective and qualitative characteristics Phase B: Elements and recognition Phase C: Measurement Phase D: Reporting entity Phase E: Presentation and disclosure Phase F: Purpose and status of framework Phase G: Applicability to not-for-profit entities Phase H: Other issues, if necessary Status of phases: Phase A: Objective and Qualitative Characteristics DP on Phase A issued 6 July 2006 ED on Phase A issued 29 May 2008 Comment deadline 29 September 2008 Final Phase A chapters of Framework published 28 September 2010 Phase B: Elements and Recognition Deliberations not expected until after June 2011 Phase C: Measurement Round-tables on Phase C Measurement were held first half 2007 Deliberations not expected until after June 2011 Phase D: Reporting Entity DP on Phase D issued 29 May 2008 Comment deadline 29 September 2008 ED on Phase D issued 11 March 2010 Comment deadline 16 July 2010 Deliberations to continue second half of 2011 Phase E: Presentation and Disclosure DP on Phase E - timing not yet determined Phase F: Purpose and Status of Framework DP on Phase F - timing not yet determined Phase G: Applicability to Not-for-profit Entities DP on Phase G - timing not yet determined Phase H: Remaining Issues (if necessary)
Consolidation, Including Special Purpose Entities (SPEs)	Convergence project with FASB Added to agenda April 2002 Replacement of IAS 27 Final IFRS published 12 May 2011 (see below) Separate disclosure standard (IASB only) Final IFRS published 12 May 2011 (see below) Investment entities Decided in June 2010 to issue proposed consolidation requirements for investment entities ED published 25 August 2011 Comment deadline 5 January 2012 Roundtables first quarter of 2012 IFRS 10 transitional guidance ED published 20 December 2011 Comment deadline 21 March 2012 Final IFRS expected second quarter 2012
Derecognition of Financial Instruments (including balance sheet offsetting of derivatives)	Convergence project with FASB Staff research report in first quarter 2008 Added to active agenda 24 July 2008 ED issued 31 March 2009 Comment deadline 31 July 2009 Final standard on improved disclosures about derecognition published 7 October 2010 ED on balance sheet offsetting (netting) of derivatives issued 28 January 2011 (see Financial Instruments project below) Final financial instruments standard reflecting balance sheet offsetting (netting) of derivatives planned for second half of 2011 Sometime in 2012 IASB will decide whether further work on derecognition is needed
Discontinued Operations and Non-current Assets Held for Sale Amendments to IFRS 5	Convergence project with FASB Added to agenda April 2007 ED issued 25 September 2008 Comment deadline 23 January 2009 Re-exposure expected second quarter 2011 (as part of the annual improvements process)
Earnings per Share Amendment of IAS 33	Added to agenda November 2005 ED issued 7 August 2008 Comment deadline 5 December 2008 Work has been deferred – IASB will consider whether to restart the project when it considers its future agenda in 2012
Emissions Trading Schemes	Added to agenda December 2007 During their joint meeting in November 2010, the IASB and FASB decided to defer further work until the second half of 2011
Financial Instruments: Comprehensive Project	Convergence project with FASB Working Group appointed Staff questionnaire on users' needs about fair values issued March 2006 Discussion paper was issued 20 March 2008 Added to agenda November 2008 Project divided into a number of components: Classification and measurement of financial assets ED issued 14 July 2009 Comment deadline on ED 14 September 2009 Final IFRS 9 issued 12 November 2009 Classification and measurement of financial liabilities ED issued 11 May 2010 Comment deadline on ED 16 July 2010 Final IFRS published 28 October 2010 Impairment Request for Information on expected loss model published 18 June 2009 ED issued 5 November 2009 Comment deadline on ED 30 June 2010 Expert Advisory Panel formed November 2009 Supplement to ED issued 31 January 2011 Comment deadline on supplement 1 April 2011 Re-exposure expected in the second quarter of 2012 Hedge accounting ED published 9 December 2010 Comment deadline on ED 9 March 2011 Review draft of proposed 'Hedge Accounting' chapter of IFRS 9 expected first quarter of 2012, finalised second quarter of 2012 Separate ED on portfolio (macro) hedging expected in the third quarter of 2012 Asset and liability offsetting ED published 28 January 2011 Comment deadline on ED 28 April 2011 Amendments to IAS 32 and IFRS 7 published 16 December 2011 Effective date of IFRS 9 IASB decided at its July 2011 meeting to postpone the mandatory application of IFRS 9 to annual periods beginning on or after 1 January 2015 with early application still permitted ED published 4 August 2011 Comment deadline on ED 21 October 2011 Effective date of IFRS 9 amended to 1 January 2015 on 16 December 2011 Limited reconsideration of IFRS 9 IASB decided at its November 2011 meeting to undertake a limited reconsideration of the requirements of IFRS 9 in light of convergence and the insurance contracts project Also the Derecognition Project is another component of the project to revise IAS 39.
Financial Instruments with Characteristics of Equity (Liabilities and Equity)	Convergence project with FASB DP issued 28 February 2008 Comment deadline on DP is 5 September 2008 Added to active agenda 24 July 2008 During their joint meeting in November 2010, the IASB and FASB decided to defer further work until the second half of 2011
Financial Statement Presentation (Performance Reporting)	Convergence project with FASB Added to agenda July 2001 Phase A: Phase A addressed what constitutes a complete set of financial statements and requirements to present comparative information – Completed Phase B: Presentation on the face of financial statements (replacement of IAS 1 and IAS 7) To develop standards for presentation of information on the face of the required financial statements DP published 16 October 2008 Comment deadline on DP 14 April 2009 Staff draft published 1 July 2010 During their joint meeting in November 2010, the IASB and FASB decided to defer further work until the second half of 2011 Statement of Comprehensive Income Project Exposure Draft published 27 May 2010 Near Final Draft published 6 June 2011 Amendments to IAS 1 published 16 June 2011 Discontinued Operations: This project (see above) is also a phase of the Financial Statement Presentation project
Government Grants (other than Emission Rights Trading)	Convergence project with FASB (excluding the emission rights component) IASB withdrew IFRIC 3 Emission Rights in June 2005 and that issue is part of this project In December 2007 IASB added to its agenda a project on Emission Trading Schemes. That project does not include comprehensive reconsideration of IAS 20 Work deferred pending progress on Revenue Recognition and Emission Trading projects. IASB will consider whether to restart the project when it considers its future agenda in 2011.
IFRS 1 Amendment – Government loans at a below-market rate of interest under IAS 20	Added to agenda September 2011 ED issued 20 October 2011 Comment deadline 5 January 2012
Impairment	Convergence project with FASB Staff research has begun Not included in IASB Work Plan
Income Taxes – Reconsideration of IAS 12	Comprehensive project Convergence project with FASB Added to agenda September 2002 ED issued 31 March 2009 Comment deadline 31 July 2009 On the basis of the joint IASB-FASB discussion in October 2009, the IASB will not finalise the ED, but instead undertake some limited scope amendments to IAS 12 The IASB will consider whether to restart the comprehensive project when it considers its future agenda in 2011 Limited scope amendment (recovery of underlying assets) ED of limited scope amendments to IAS 12 published 10 September 2010 Comment deadline 9 November 2010 Final limited scope amendments to IAS 12 issued 20 December 2010
Insurance Contracts – Phase II (Comprehensive Project)	Added to agenda September 2001 DP was issued 3 May 2007 ED/2010/8 issued 30 July 2010 Comment deadline 30 November 2010 Roundtables fourth quarter 2010 Re-exposure or a review draft of an IFRS expected in the second quarter of 2012
Leases	Convergence project with FASB Added to agenda July 2006 DP issued 19 March 2009 Comment deadline on DP 17 July 2009 ED issued 17 August 2010 Roundtables fourth quarter 2010 and first quarter 2011 Re-exposure expected in the second quarter of 2012
Liabilities: IAS 37 Amendments (was part of Business Combinations – Phase II)	Convergence project with FASB Added to IASB Agenda in April 2002 Two parts: Application of the purchase method (Convergence project with FASB) [Non-Financial] Liabilities (amendment of IAS 37) EDs issued 30 June 2005 Public roundtable discussions held 9 November 2005 Roundtables on liabilities held fourth quarter 2006 Final standard on business combinations purchase method and related revisions to IAS 27, IAS 28, and IAS 31 were issued 10 January 2008 Re-exposure draft on liabilities issued 5 January 2010 Comment deadline on revised ED 12 April 2010 Extended to 19 May 2010 During their joint meeting in November 2010, the IASB and FASB decided to defer further work until the second half of 2011
Post-employment Benefits including Pensions	Convergence project with FASB Added to agenda July 2006 Working group appointed March 2007 Consists of a number of parts: Amendments to IAS 19 – to discuss recognition, presentation, and related disclosures and minor issues (Amended IAS 19 published 16 June 2011) And a second step discussing contribution-based promises In the longer term, the IASB intends to work with the US FASB towards a common standard on post-employment benefit promises
Rate-regulated Activities	Added to agenda December 2008 ED issued 22 July 2009 Comment deadline on ED 20 November 2009 During March-June 2010, the IASB project team performed outreach meeting with preparers, investors, analysts, regulators, accounting firms and standard setters. Project deferred in September 2010. Revised timetable not yet announced by IASB.
Revenue Recognition	Convergence project with FASB Added to agenda June 2002 Discussion Paper (DP) issued 18 December 2008 Comment deadline on DP 19 June 2009 ED issued 24 June 2010 Comment deadline on ED 22 October 2010 Re-exposure published on 14 November 2011
Post-implementation Reviews
IFRS 8 Operating Segments	Review to be initiated in the fourth quarter of 2011 Completion expected during 2012
IFRS 3 Business Combinations	Review to be initiated 2012
Research Agenda Projects that Are Part of IASB-FASB Convergence Agreement
Intangible Assets	Convergence project with FASB Decision in December 2007 not to add to agenda but to continue as research project IASB will consider whether to restart the project when it considers its future agenda in 2011
Research Agenda Projects that Are NOT Part of IASB-FASB Convergence Agreement
Extractive Activities	Initial phase of this possible project led by the national standard setters from Australia, Canada, Norway and South Africa Working Draft of the DP was posed on IASB's website in August 2009 Discussion Paper published April 2010 Comment deadline on DP 30 July 2010 Agenda decision expected when IASB considers its future agenda in 2011
XBRL Is a Project of the IASC Foundation, Not the IASB
IFRS XBRL Taxonomy	The IASB's XBRL Web Page: www.ifrs.org/xbrl
Completed Projects
Completed in 2011
Consolidation, Including Special Purpose Entities (SPEs)	Convergence project with FASB Added to agenda April 2002 Replacement of IAS 27 ED issued 18 December 2008 Comment deadline 20 March 2009 Roundtables first quarter 2009 SD published 29 September 2010 NFD published 21 April 2011 Final IFRS published 12 May 2011 Separate disclosure standard (IASB only) Decided in January 2010 to issue a separate disclosure standard addressing a reporting entity's involvement with other entities that are not in the scope of IAS 39/IFRS 9 (including subsidiaries, associates and joint arrangements and unconsolidated SPEs/structured entities) NFD published 21 April 2011 Final IFRS published 12 May 2011
Fair Value Measurement Guidance	Added to agenda September 2005 Convergence project with FASB IASB issued a DP wrap-around of FAS 157 Fair Value Measurement – 30 November 2006 Expert Advisory Panel on Fair Value in Inactive Markets appointed June 2008 31 October 2008 report of Expert Advisory Panel published ED issued 28 May 2009 Comment deadline 28 September 2009 Roundtables fourth quarter 2009 ED on measurement uncertainty analysis disclosure issued 29 June 2010 Comment deadline on measurement uncertainty analysis ED 7 September 2010 Final IFRS published 12 May 2011
Joint Ventures – Reconsideration of IAS 31	Convergence project with FASB Added to agenda November 2004 ED issued 13 September 2007 NFD published 21 April 2011 Final IFRS published 12 May 2011
Post-employment Benefits including Pensions	Convergence project with FASB Added to agenda July 2006 Working group appointed March 2007 Consists of a number of parts: amendments to IAS 19, a second step discussing contribution-based promises, and a possible longer term project Amendments to IAS 19 DP was issued 27 March 2008 Comment deadline was 26 September 2008 ED issued 29 April 2010 Comment deadline on ED 6 September 2010 NFD published 2 June 2011 Amended IAS 19 published 16 June 2011
Post-employment Benefits – Termination benefits	ED issued June 2005 (part of IAS 37 amendments) NFD published 2 June 2011 Amended IAS 19 published 16 June 2011
Completed in 2010
Management Commentary	IASB published discussion paper prepared by partner standard setters on 27 October 2005 Added to agenda December 2007 Output will be 'best practice' guidance, not an IFRS ED issued 23 June 2009 Comment deadline on ED 1 March 2010 IFRS Practice Statement (not a Standard) published 8 December 2010
Conceptual Framework – Phase A: Objective and Qualitative Characteristics	DP on Phase A issued 6 July 2006 ED on Phase A issued 29 May 2008 Comment deadline 29 September 2008 Final Phase A chapters of Framework published 28 September 2010
Annual Improvements to IFRSs – 2008-2010	Minor amendments to IFRSs Ongoing annual improvements process was added to agenda July 2006 ED issued 7 August 2008 Final IFRS on all but two issues issued 16 April 2009 ED on remaining items issued 26 August 2009 Comment deadline on ED 24 November 2009 Final IFRS on remaining items issued 6 May 2010
IFRS 1 Amendment – Exemption from Comparative IFRS 7 Disclosures	Added to agenda November 2009 ED issued November 2009 Final IFRS amending IFRS 1 issued 28 January 2010
IFRS 1 Amendment – Replacement of 'fixed dates' for certain exceptions with 'the date of transition to IFRSs'	Added to agenda July 2010 ED issued 26 August 2010 Final IFRS amending IFRS 1 issued 20 December 2010
IFRS 1 Amendment – Additional exemption for entities ceasing to suffer from severe hyperinflation	Added to agenda September 2010 ED published 30 September 2010 Final IFRS amending IFRS 1 issued 20 December 2010
Completed in 2009
IFRIC 14 Amendment – IAS 19: The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction	ED issued 28 May 2009 Comment deadline on ED 27 July 2009 Final IFRS issued 26 November 2009
Financial Instruments: Classification and Measurement of Financial Assets	Convergence project with FASB Working Group appointed Staff questionnaire on users' needs about fair values issued March 2006 Discussion paper was issued 20 March 2008 Added to agenda November 2008 Project divided into three components: Classification and Measurement of Financial Assets, Impairment, Hedge Accounting, and Classification and Measurement of Financial Liabilities Classification and Measurement of Financial Assets ED issued 14 July 2009 Comment deadline on ED 14 September 2009 Final IFRS 9 issued 12 November 2009
Credit Risk in Liability Measurement	Discussion Paper on Own Credit Risk published 18 June 2009 Comment deadline 1 September 2009 October 2009 Board decision to stop work on this project as a separate project and, instead, to consider the issues in the Conceptual Framework–Measurement project.
Post-employment Benefits Discount Rate	Added to agenda July 2009 ED issued 21 August 2009 Comment deadline on ED 30 September 2009 In October 2009 Board decided not to finalise this amendment. The issue will be included in the comprehensive Post-employment Benefits project.
Related Party Disclosures Amendment of IAS 24	Added to agenda July 2006 ED issued 22 February 2007 Revised ED issued 11 December 2008 Comment deadline on revised ED 13 March 2009 Final IFRS issued 4 November 2009
IFRS 1 Issues – transitional issues faced by jurisdictions expected to adopt IFRSs in coming years	Added to agenda March 2008 ED issued 25 September 2008 Comment deadline on ED 23 January 2009 Final IFRS issued 23 July 2009
(IFRS for) Small and Medium-sized Entities	Discussion Paper (DP) was issued June 2004 Recognition and measurement Questionnaire was issued April 2005 Public round-table discussions held 13-14 October 2005 Complete draft of Exposure Draft (ED) posted on IASB website November 2006 ED issued 15 February 2007 Staff overview of ED published April 2007 ED Spanish translation published April 2007 ED French translation published May 2007 ED German translation published June 2007 ED Polish translation published September 2007 ED Romanian translation published September 2007 Field tests conducted June-November 2007 Final Standard issued 9 July 2009
IFRS 2 Share-based Payment Amendment – group cash-settled share-based payment transactions	ED issued 13 December 2007 Comment deadline on ED 17 March 2008 Final amendments to IFRS 2 issued 18 June 2009. IFRICs 8 and 11 withdrawn.
IFRIC 9 and IFRIC 16 Amendments	Minor amendments to two Interpretations Added to agenda January 2009 ED/2009/1 issued January 2009 Final amendments to IFRIC 9 and IAS 39 published 12 March 2009
Financial Instruments - Enhanced Disclosures Amendments to IFRS 7	Added to agenda September 2008 ED on disclosures of liquidity risk and fair value measurements issued 15 October 2008 Comment deadline on ED 15 December 2008 ED on disclosures about investments in debt instruments issued December 2009 IASB abandoned the project on disclosures about investments in debt instruments in January 2009 Final amendment to IFRS 7 on disclosures of liquidity risk and fair value measurements issued 5 March 2009
Completed in 2008
Reclassification of Financial Instruments Under IAS 39 – Whether to eliminate differences with US GAAP	Added to agenda 14 October 2008 (response to credit crisis) Final standard issued 14 October 2008
Financial Instruments: Eligible Hedged Items	ED was issued 6 September 2007 Final standard issued 30 July 2008
IFRS 1 Amendment – cost of investment in a subsidiary in separate financial statements of parent	Added to agenda March 2006 ED issued 25 January 2007 Comment deadline was 27 April 2007 Revised ED issued 13 December 2007 Comment deadline 26 February 2008 Final amendment to IFRS 1 issued 22 May 2008
Annual Improvements to IFRSs – 2006-2007	Minor amendments to IFRSs Ongoing annual improvements process was added to agenda July 2006 ED was issued 11 October 2007 Final standard issued 22 May 2008
Financial Instruments: Puttable Instruments	ED was issued June 2006 Final amendments to IAS 32 and IAS 1 issued 14 February 2008
IFRS 2 Amendment – vesting conditions and cancellations	ED issued 2 February 2006 Final amendment issued 17 January 2008
Business Combinations – Phase II	Added to IASB Agenda in April 2002 Two parts: Application of the purchase method (Convergence project with FASB) [Non-Financial] Liabilities (amendment of IAS 37) EDs issued 30 June 2005 Public round-table discussions on business combinations held 9 November 2005 Final standard on business combinations and related revisions to IAS 27, IAS 28, and IAS 31 were issued 10 January 2008
Completed in 2007
Financial Statement Presentation (Performance Reporting)	Phase A Completed: Phase A addressed what constitutes a complete set of financial statements and requirements to present comparative information ED was issued 16 March 2006 Final standard was issued 6 September 2007
Convergence Issues – IAS 23 Borrowing Costs	ED was issued 25 May 2006 Revised IAS 23 issued 29 March 2007
Completed in 2006
Convergence Issues – IAS 14 Segment Reporting:	ED 8 issued 19 January 2006 IFRS 8 Operating Segments issued 30 November 2006
Completed in 2005
Financial Instruments: Fair Value Option	Exposure draft was issued 21 April 2004 Comment deadline 21 July 2004 Final amendment was issued 15 June 2005
Financial Instruments: Cash Flow Hedge Accounting of Forecast Intragroup Transactions	Exposure draft was issued 8 July 2004 Final amendments were issued 14 April 2005
Financial Instruments: Financial Guarantee Contracts and Credit Insurance	Exposure draft was issued 8 July 2004 Final amendments were issued 18 August 2005
Financial Instruments: Disclosures	ED 7 was issued 22 July 2004 IFRS 7 Financial Instruments: Disclosures issued 18 August 2005 IFRS 7 replaces disclosure portion of IAS 32 IFRS 7 replaces IAS 30 Related amendments to IAS 1 Presentation of Financial Statements for disclosures about capital issued 18 August 2005 Effective date years beginning 1 January 2007, earlier application encouraged
Completed in 2004
Business Combinations – Phase I	Exposure drafts of a new IFRS on business combinations (to replace IAS 22) and of amendments to IAS 36 and IAS 38: Were issued 5 December 2002 Comment Deadline: 4 April 2003 Final Standards: IFRS 3 and related revisions to IAS 36 and IAS 38 were issued 31 March 2004 Effective date: 1 April 2004
Business Combinations – Proposed Amendments to IFRS 3: Combinations by Contract Alone or Involving Mutual Entities	Exposure draft issued 29 April 2004 Comment deadline 31 July 2004 ED will not be adopted separately. Instead, the issue will be addressed in Phase II Application of Purchase Method.
Convergence Issues for Asset Disposals and Discontinued Operations	ED 4 on Disposal of Non-current Assets and Presentation of Discontinued Operations was issued 24 July 2003, comment deadline 24 October 2003 Final Standard: IFRS 5 issued 31 March 2004 Effective date: 2005 year ends
Convergence Issues IAS 19 Employee Benefits	Proposed Amendments to IAS 19 Employee Benefits: Actuarial Gains and Losses, Group Plans and Disclosures: Exposure draft was issued 29 April 2004, comment deadline 31 July 2004 Final Standard was issued 16 December 2004 Effective date: 2006 year ends, early application encouraged
Extractive Industries: Exploration and Evaluation of Mineral Resources	ED 6 Exploration for and Evaluation of Mineral Resources was issued 15 January 2004 Final Standard IFRS 6 Exploration for and Evaluation of Mineral Assets was issued December 2004 Effective date: 2006 year ends, early application encouraged
Financial Instruments: Macro Hedging	Exposure draft was issued 21 August 2003 Comment deadline 14 November 2003 Revised IAS 39 was issued 31 March 2004
Financial Instruments: Transition and Day 1 Profit Recognition	Exposure draft was issued 8 July 2004 Final amendments were issued December 2004
Insurance Contracts – IFRS 4 Project	ED 5 Insurance Contracts, was issued 31 July 2003, comment deadline 31 October 2003 Final Standard: IFRS 4 issued 31 March 2004 Effective date: 2005 year ends
Share-based Payment	Exposure draft: ED 2 Share-based Payment was issued 7 November 2002 Comment Deadline: 7 March 2003 Final Standard IFRS 2 Share-based Payment issued in February 2004 Effective date: 2005 year ends
Completed in 2003
Amendments to IAS 32 and IAS 39	Exposure draft was issued 20 June 2002 Comment deadline was 14 October 2002 Revised IASs were issued 17 December 2003 Amendments completed in 2004: Macro Hedging; transition and day 1 profit, Amendments completed in 2005: Fair value option; financial guarantees; cash flow hedge of forecast intragroup transactions; IFRS 7 on disclosures
Improvements to IFRS	Exposure draft Improvements to IFRS was issued May 2002 Comment deadline: 16 September 2002 Final Standards were issued in December 2003 Revised IASs Resulting from the Improvements Project IAS 1 Presentation of Financial Statements IAS 2 Inventories IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors IAS 10 Events after the Balance Sheet Date IAS 15 Information Reflecting the Effects of Changing Prices (Withdrawn) IAS 16 Property, Plant and Equipment IAS 17 Leases IAS 21 The Effects of Changes in Foreign Exchange Rates IAS 24 Related Party Disclosures IAS 27 Consolidated and Separate Financial Statements IAS 28 Investments in Associates IAS 31 Interests in Joint Ventures IAS 33 Earnings per Share IAS 40 Investment Property Effective dates: 2005 year ends
First-time Adoption of IFRS	Exposure draft First-time Application of IFRS was issued 31 July 2002. Comment deadline 31 October 2002 Final Standard IFRS 1 First-time Adoption of IFRS was issued in June 2003 Effective date: For an entity's first IFRS financial statements for a period beginning on or after 1 January 2004. Earlier application is encouraged
Completed in 2002
IAS 19 Revisions - Asset Ceiling Test	Exposure draft published 25 February 2002. Comments were due 25 March 2002. Final Standard Revised IAS 19 was published in May 2002.
Preface to IFRS	Exposure draft issued 8 Nov. 2001. Comments were due 15 February 2002. Board deliberations on final Preface started April 2002. Final Preface was published in May 2002.