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IASB meeting — 27 February – 2 March 2012, London

Start date:

End date:

Location: London

About meeting notes

Agenda for the meeting

Monday, 27 February 2012

IASB meeting (09:00-10:15)

  • Leases — education session

IASB-FASB joint meeting (10:30-15:30)

  • Insurance contracts

Tuesday, 28 February 2012

IASB meeting (09:30-10:30)

  • Insurance contracts

IASB-FASB joint meeting (10:45-18:00)

  • Financial instruments — Impairment
  • Financial instruments — Classification and measurement (limited reconsideration of IFRS 9)
  • Leases

Wednesday, 29 February 2012

IASB-FASB joint meeting (09:00-12:30)

  • Leases

Thursday, 1 March 2012

IASB meeting (10:45-17:30)

  • IFRS Interpretations Committee update
  • IFRS Interpretations Committee issues
  • IFRS Interpretations Committee — Agenda rejection notices
  • IFRIC 15 — Meaning of continuous transfer
  • IAS 27/IAS 32 — Put options over non-controlling interests
  • Financial instruments — Macro hedge accounting

Friday, 2 March 2012

IASB meeting (09:30-12:45)

  • Annual improvements — 2009-2011 cycle
  • Annual improvements — 2010-2013 cycle

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


Related Discussions

  • Leases – Education session

    Feb 27, 2012

    The IASB held an education session to allow IASB members the opportunity to ask questions or provide feedback to the staff in advance of discussing the topics again during the joint IASB and FASB meeting.

  • Insurance contracts

    Feb 27, 2012

    The IASB and the FASB discussed jointly the following topics related to insurance contracts: (1) premium allocation approach, (2) measurement of liabilities for infrequently high-severity events, (3) unbundling of goods and services and (4) onerous contracts.

  • Insurance contracts

    Feb 28, 2012

    The IASB discussed whether financial instruments with discretionary participation features ("DPF") that do not meet the definition of insurance contracts should be included within the scope of the insurance contracts standard.

  • Financial instruments — Impairment

    Feb 28, 2012

    The IASB and FASB continued their discussions on development of the three bucket impairment model for financial instruments, discussing: (1) direction of movements between impairment buckets (2) application of the impairment model to trade receivables.

  • Financial instruments — Classification and measurement

    Feb 28, 2012

    The IASB and FASB began their joint deliberations on financial instrument classification and measurement in an attempt to more closely align IFRS 9 and the FASB's tentative decisions to date. The discussions focused on the cash flow characteristics assessment; this was followed by an education session discussing the business activity criterion under each approach.

  • Leases

    Feb 29, 2012

    The IASB and FASB received a summary from the Working Group Meeting held on January 24, 2012 and also discussed: (1) three alternative approaches to subsequently measuring the right-of-use ('ROU') asset by the lessee, and whether there are any consequences for lessor accounting resulting from the outcome of the lessee accounting discussions (2) whether the Boards agree with their previous tentative decision to exclude leases of investment property from the scope of the receivable and residual approach and whether there are any consequences for lessee accounting arising from this tentative decision.

  • IFRIC 15 — Meaning of continuous transfer

    Mar 01, 2012

    The IASB discussed the two submissions received by the Interpretations Committee requesting clarification of the notion of continuous transfer of a good in IFRIC 15, Agreements for the Construction of Real Estate.

  • IAS 27/IAS 32 — Put options over non-controlling interests

    Mar 01, 2012

    The IASB discussed aspects of prior discussions held by the IFRS Interpretations Committee on aspects of the accounting for put options written on non-controlling interests in the consolidated financial statements of the controlling shareholder ('NCI puts').

  • Annual improvements — 2009-2011 cycle

    Mar 02, 2012

    The IASB considered the finalisation of a number of amendments included in the June 2011 exposure draft of annual improvements, discussing: (1) Repeated application of IFRS 1 (2) IFRS 1 — Exemption for borrowing costs (3) IAS 1 — Comparative information (4) IAS 16 — Classification of servicing equipment (5) IAS 32 — Tax effect of distribution to holders of equity instruments (6) IAS 34 — Interim financial reporting and segment information (7) Proposed changes to IAS 1 derived from the Conceptual Framework for Financial Reporting.

  • Annual improvements — 2010-2013 cycle

    Mar 02, 2012

    The IASB considered two topics for possible annual improvements in the next cycle: (1) IFRS 3 — Scope exclusion for the formation of a joint venture (2) IFRS 3 — Definition of a business (interaction with IAS 40).