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IASB meeting — 24-28 September 2012, London

Start date:

End date:

Location: London

About meeting notes

Agenda for the meeting

Monday, 24 September 2012

IASB-FASB meeting (13:00-18:00)

  • Insurance contracts
  • Revenue recognition


Tuesday, 25 September 2012

IASB education sessions (14:00-17:45)

  • Insurance contracts
  • Revenue recognition


Wednesday, 26 September 2012

IASB meeting (09:00-18:00)

  • Rate regulated activities
  • Classification and measurement
  • Macro hedge accounting
  • Insurance contracts


Thursday, 27 September 2012

IASB meeting (09:00-12:30)

  • IAS 41 Agriculture — Biological assets
  • Annual improvements
  • Investment entities
  • Impairment

IASB-FASB meeting (13:15-16:15)

  • Revenue recognition


Friday, 28 September 2012

IASB meeting (09:00-10:45)

  • IFRIC Update
  • IFRS 11 Joint Arrangements — Acquisition of interest
  • IAS 28/IFRS10 Partial gain recognition on transactions with associates and joint arrangements
  • Conceptual Framework

 

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


Related Discussions

  • Insurance contracts

    Sep 24, 2012

    The Boards discussed (1) accounting of acquisitions costs incurred before a contract’s coverage period, (2) transitional requirements and (3) discount rates.

  • Revenue recognition

    Sep 24, 2012

    As a result of feedback received to the Boards’ revised exposure draft 'Revenue from Contracts with Customers' (2011 ED), the staffs brought the following topics to the Boards for consideration: (1) possible improvements to the constraint on the cumulative amount of revenue that can be recognised if the amount of consideration which an entity expects to be entitled is variable; and (2) the impact of collectibility on recognition, measurement and presentation.

  • Insurance contracts (education session)

    Sep 25, 2012

    The IASB members discussed several questions regarding accretion of interest on the residual margin. The staff also presented a package of proposed disclosures and sought comment on these as a whole.

  • Revenue recognition (education session)

    Sep 25, 2012

    The IASB held an education session to discuss the following in the context of the 2011 ED (1) clarifications to the time value of money requirement; and (2) application of the term ‘customer’ in the context of arrangement under which an entity promises to transfer benefit to an entity other than the customer.

  • Rate regulated activities

    Sep 26, 2012

    This meeting discussed the staff’s proposal that they develop a Discussion Paper on rate-regulated activities using the existing research from the 2008–2010 project to assess whether the IASB should develop an IFRS or amend existing IFRSs.

  • Financial instruments: Classification and measurement

    Sep 26, 2012

    The Board discussed the following topics in relation to its proposed limited amendments to the classification and measurement requirements in IFRS 9: (1) relief to accelerate application of ‘own credit’ requirements; (2) two additional transition issues related to the limited amendments to IFRS 9 and one related issue for impairment; and (3) due process considerations.

  • Macro hedge accounting

    Sep 26, 2012

    The IASB continued its discussion on development of an accounting model for macro hedging activities on the basis of the ‘11 steps’ that the Board initially discussed at its November 2011 meeting. As this session was an educational session no decisions were made.

  • Insurance contracts

    Sep 26, 2012

    The Board discussed (1) accretion of interest for the residual margin, (2) disclosures and (3) a decision on the form of the IASB due process.

  • Investment entities – Sweep issues

    Sep 27, 2012

    The Staff presented three issues that arose as a result of external reviewer comments on the pre-ballot draft of 'Investment Entities: Amendments to IFRS 10, IFRS 12, IAS 27 and IAS 28' (“the investment entities amendments”). The Staff asked the IASB Board members to discuss: (1) whether an investment entity should be required to have an exit strategy for substantially all of its investments, (2) the interaction between the fair value management requirement in IFRS 9 Financial Instruments and the fair value management component of the investment entity definition and (3) whether an entity that provides investment-related services to external parties should qualify as an investment entity.

  • Revenue recognition

    Sep 27, 2012

    The Boards discussed the following as part of their redeliberations of the proposals including in the 2011 ED (1) the impact of collectibility on presentation, (2) clarifications to the time value of money requirement and (3) contract combinations and distribution networks.

  • IFRIC Update

    Sep 28, 2012

    The staff presented the July 2012 IFRIC Update and highlighted the items on the current agenda, agenda decisions, tentative agenda decisions and work in progress.

  • Conceptual framework

    Sep 28, 2012

    The staff presented their proposals to the Board as to how to approach the project on the conceptual framework. The staff recommended that the conceptual framework project should focus on elements of financial statements, measurement, reporting entity, presentation and disclosure. They also noted that the aim would be to work towards a single discussion paper covering all of the areas (rather than the previous joint IASB and FASB phase project on the conceptual framework), rather than separate discussion papers for each area.