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IASB meeting — 19-22 September 2011, London

Start date:

End date:

Location: London

About meeting notes

Agenda for the meeting

Monday, 19 September 2011

IASB-FASB joint meeting (13:15-19:00)

  • Leases
  • Insurance contracts

Tuesday, 20 September 2011

IASB meeting (09:45-17:45)

  • Accounting for stripping costs in the production phase of a mine
  • Accounting for put options written over non-controlling interests
  • IFRS Interpretations Committee – Update from last meeting
  • Financial instruments – Asset and liability offsetting
  • Financial instruments – Hedge accounting

Wednesday, 21 September 2011

IASB-FASB joint meeting (12:30-17:45)

  • Leases
  • Financial instruments – Impairment

Thursday, 22 September 2011

IASB meeting (08:30-15:30)

  • Annual Improvements to IFRSs – 2010-2012
  • IFRS 2 Share-based payment - Review of the requests received by the IFRS Interpretations Committee in relation to IFRS 2
  • IFRS 1 First-time Adoption of IFRSs - Review of a request received by the IFRS Interpretations Committee
  • IFRS 8 Operating Segments - Review of a request received by the IFRS Interpretations Committee
  • Financial instruments – Hedge accounting

Agenda papers for this meeting are available on the IASB's website.


Related Discussions

  • Leases

    Sep 19, 2011

    As part of its continuing deliberations surrounding the Exposure Draft Leases (Leases ED), the Boards discussed the potential inclusion of inventory within the scope of the leasing standard, the applicability of financial asset guidance to the right to receive lease payments, lessor subsequent measurement issues and lessor accounting for residual value guarantees.

  • Insurance contracts

    Sep 19, 2011

    The IASB and FASB considered (1) Staff recommendations on the disclosure principles and guidance applicable to insurance contracts (2) the objective of the risk adjustment (3) removal of the limitation of the permitted techniques for quantifying the risk adjustment.

  • Asset and liability offsetting

    Sep 20, 2011

    The IASB considered areas of diversity in practice identified during the offsetting project including (1) the meaning of 'currently has a legally enforceable right of set-off' (2) the application of the simultaneous settlement criterion (3) the treatment of collateral and margin and (4) issues around unit of account. The Board also considered the effective date and transition of the amendments.

  • Financial instruments – Hedge accounting

    Sep 20, 2011

    The IASB considered: (1) application of the proposed disclosure requirements to dynamic hedging strategies (2) hedging using credit derivatives (3) the effective date and transition of the hedge accounting standard and (4) next steps.

  • Financial instruments – Hedge accounting

    Sep 20, 2011

    The IASB considered three papers related to macro hedge accounting: (1) an example of a common interest rate risk management strategy (2) conceptual differences between the risk management approach described in the example and the current hedge accounting requirements and (3) potential alternatives for an accounting solution to address the conceptual differences.

  • Leases

    Sep 21, 2011

    As part of its continuing deliberations surrounding the Leases ED, the IASB and FASB discussed the presentation of a lessor's lease receivable and residual assets in the statement of financial position, classification of cash received for lease payments by a lessor in the statement of cash flows, as well as lessee transition requirements.

  • Financial instruments – Impairment

    Sep 21, 2011

    The IASB and FASB discussed (1) feedback from the Impairment Summit and Financial Instruments Working Group (2) how to treat originated or purchased assets of lower credit quality on initial recognition and (3) the development of a principle of when to transfer financial assets between bucket one and bucket two

  • Annual Improvements to IFRSs – 2010-2012

    Sep 22, 2011

    The IASB considered annual improvements to IAS 16 (revaluation model and proportionate restatement), IAS 24 (key management personnel), IFRS 2 (vesting and non-vesting conditions), IFRS 8 (reconciliation of segment assets), IAS 7 (capitalised interest), IAS 36 (disclosure of recoverable amount), IAS 1 (current/non-current classification of debt), and IAS 12 (unrealised losses on AFS debt securities). The Board also considered a number of other issues where an annual improvement was rejected (IFRS 2, IAS 27 and IAS 28).

  • IFRS 1 – Amendment for government loans

    Sep 22, 2011

    The Board discussed IFRS Interpretations Committee recommendations that first-time adopters of IFRSs should be permitted to apply paragraph 10A of IAS 20 (dealing with government loans) prospectively.