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IASB meeting — 13-16 December 2011, London

Start date:

End date:

Location: London

About meeting notes

Agenda for the meeting

Tuesday, 13 December 2011

IASB meeting (09:00-13:15)

  • IFRS 10 — Transitional requirements
  • IFRS Interpretations Committee update
  • Financial instruments — Macro hedge accounting
  • Financial instruments — Limited reconsideration of IFRS 9 (classification and measurement)
  • Leases — Education session

Wednesday, 14 December 2011

IASB-FASB joint meeting (11:30-18:45)

  • Leases
  • Financial instruments — Impairment

Thursday, 15 December 2011

IASB-FASB joint meeting (12:30-13:30)

  • Insurance contracts

Friday, 16 December 2011

IASB-FASB joint meeting (12:30-13:30)

  • Insurance contracts

 


Related Discussions

  • Leases – Education session

    Dec 13, 2011

    The IASB held an education session on (1) cancellable leases (2) lessor accounting for rental income arising from investment property that is outside the scope of the lessor receivable and residual approach (3) disclosure requirements for lessors that have leases of investment property that are excluded from the scope of the receivable and residual approach.

  • Financial instruments — Limited reconsideration of IFRS 9 (classification and measurement)

    Dec 13, 2011

    During the November 2011 IASB meeting, the Board decided to reopen IFRS 9 to further consider 1) certain specific issues identified as entities have implemented IFRS 9, 2) the interaction of decisions made in the insurance project with the classification and measurement of assets managed to meet insurance liabilities and 3) whether further convergence could be achieved with the FASB and their financial instrument classification and measurement project.

  • Leases

    Dec 14, 2011

    The IASB and FASB discussed (1) cancellable leases (2) lessor accounting for rental income arising from investment property (3) disclosure requirements for lessors.

  • Financial instruments — Impairment

    Dec 14, 2011

    The IASB and FASB discussed a variety of topics in the continued development of the three bucket impairment model: (1) principle of transfer from bucket one to bucket two (2) the objective of the bucket one allowance and the measurement attribute for financial assets in the bucket (3) two pervasive issues: (a) aggregation of individual financial assets for collective credit deterioration evaluation (b) differentiation between bucket two and bucket three.

  • Financial instruments — Impairment

    Dec 15, 2011

    The Boards' discussions around development of the three bucket approach have to date focused around commercial loans. However, constituents had raised concerns in the supplementary document and during outreach activities over the application to individual debt securities. The Boards took this opportunity to discuss specific application issues associated with debt securities, commercial loans, and consumer loans.

  • Insurance contracts

    Dec 15, 2011

    The IASB and FASB discussed: (1) policyholder participation (2) measurement of options and guarantees embedded in insurance contracts (3) cash flows that existing contracts require to be paid to future policyholders (4) discounting of insurance liabilities for incurred claims.

  • Insurance contracts

    Dec 16, 2011

    The IASB and FASB discussed (1) discounting of insurance liabilities for incurred claims (2) unit of account (3) onerous contracts.