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IASB meeting — 13-15 June 2011, London

Start date:

End date:

Location: London

About meeting notes

Agenda for the meeting

Monday, 13 June 2011

IASB/FASB joint meeting (11:30-18:30)

  • Insurance contracts
  • Investment property – Education session on FASB project
  • Leases - Lessor accounting
  • Financial instruments – Asset and liability offsetting
    • Tuesday, 14 June 2011

      IASB-EFRAG joint meeting (08:00-10:30)

      • Meeting with EFRAG

      IASB-FASB joint meeting (10:45-18:30)

      • Financial instruments – Classification and measurement – Education session on FASB model
      • Leases – Islamic (Shariah-compliant) leases
      • Revenue recognition
      • Asset and liability offsetting

      Wednesday, 15 June 2011

      IASB-FASB joint meeting (8:00-12:30)

      • Leases
      • Insurance contracts (continued from Monday)
      • Financial instruments – Impairment
      • Revenue recognition – Re-exposure of proposals

      IASB meeting (13:15-14:35)

      • Investment entities – Sweep issues
      • Annual improvements
      • Agenda consultation – Proposed timetable

 


Related Discussions

  • Insurance contracts

    Jun 13, 2011

    The IASB and FASB discussed a number of staff papers: (1) whether to unlock the residual margin (2) how to unlock the residual margin (3) allocation of the residual margin (4) acquisition costs revisited.

  • Investment property

    Jun 13, 2011

    The IASB held an education session where the FASB staff provided an update on the FASB's project on investment properties.

  • Leases – lessor accounting

    Jun 13, 2011

    As part of its continuing deliberations surrounding the Exposure Draft 'Leases', the IASB and FASB deliberated on the following topics related to the lessor accounting model: (1) initial measurement of the residual asset (2) initial profit recognition (3) subsequent measurement of the residual asset (4) lease of a portion of the underlying asset.

  • Leases

    Jun 13, 2011

    As part of its continuing deliberations surrounding the Leases ED, the Boards discussed lessor issues in Islamic, or Shariah-compliant, leases.

  • IASB-EFRAG meeting

    Jun 14, 2011

    Multiple Board members of the IASB, its staff and the incoming vice-chairman of the IASB met with members of the European Financial Reporting Advisory Group (EFRAG) to discuss (1) the state of the major projects (2) new standards on consolidation, joint arrangements and disclosures (3) the timeline for completion of major projects.

  • Revenue recognition

    Jun 14, 2011

    As part of its continual deliberations surrounding the Exposure Draft 'Revenue from Contracts with Customers', the IASB and FASB deliberated on (1) the effect of the proposed model on telecoms (and other) companies and (2) transition requirements.

  • Financial instruments – Asset and liability offsetting

    Jun 14, 2011

    The IASB and FASB discussed the overriding model for offsetting based on feedback received from the proposals in the exposure draft. The Boards considered three possible alternatives for the offsetting model.

  • Leases

    Jun 15, 2011

    As part of its continuing deliberations surrounding the Leases ED, the IASB and FASB deliberated on the topics of subleases and short-term leases.

  • Insurance contracts

    Jun 15, 2011

    The IASB and FASB considered a paper prepared by the FASB staff dealing with the presentation of insurance contracts in the statement of comprehensive income.

  • Financial instruments – Impairment

    Jun 15, 2011

    The IASB and FASB considered a high level summary of the approach developed by the Impairment working group, based on three categories using credit risk or credit deterioration as the distinguishing feature between the categories.

  • Revenue recognition

    Jun 15, 2011

    The IASB and FASB considered whether re-exposure of the proposed revenue standard would be necessary.

  • Investment entities – Sweep issues

    Jun 15, 2011

    The IASB discussed the investment entities project, specifically whether to permit early application of the proposals and the comment period for the upcoming exposure draft.

  • Annual improvements – comment period

    Jun 15, 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.