The IASB held its monthly Board meeting on Tuesday to Friday, 13-16 December 2005. We have combined the preliminary and unofficial notes taken by Deloitte observers on a Separate Page.

The IASB held its monthly Board meeting on Tuesday to Friday, 13-16 December 2005. We have combined the preliminary and unofficial notes taken by Deloitte observers on a Separate Page.

The IASB held its monthly Board meeting on Tuesday to Friday, 13-16 December 2005. We have combined the preliminary and unofficial notes taken by Deloitte observers on a Separate Page.

The amendment responds to concerns expressed by the IASB's constituents earlier this year that IAS 21 as amended in December 2003 required different accounting depending on the currency in which a monetary item was denominated where such an item was regarded as part of an entity's investment in a foreign operation. Secondly, IAS 21 was not clear on whether any member of a consolidated group could enter into the monetary transaction with the foreign operation. In response to those concerns, the IASB reviewed IAS 21 and reached the following decisions, which are reflected in the amendment:

• As regards a monetary item that forms part of an entity's investment in a foreign operation, the IASB concluded that the accounting treatment in consolidated financial statements should not be dependent on the currency of the monetary item.
• Also, the accounting should not depend on which entity within the group conducts a transaction with the foreign operation.

The amendment is available for adoption with immediate effect. Click for IASB Press Release (PDF 52k).

Google search capability has now been added to that site. Click to go directly to the Search Page on IAS Plus Germany.

Click to download (PDF 1,455k, 185 pages). This publication complements the previously issued German language model IFRS financial statements for 2005, which can be found on our Model Financial Statements Page.

The conference featured speeches by, and question and answer sessions with, members of the SEC, the Public Company Accounting Oversight Board, and other standard-setters. The (PDF 365k, 37 pages) focuses on speeches and other remarks that deal with financial accounting and reporting in accordance with US generally accepted accounting principles.

IFRIC plans further discussion in March 2006. Public comment on these tentative decisions is invited by 20 January 2006. The newsletter may be downloaded from IASB's Website (currently subscribers only; in a few days no restrictions). Because our IASPlus web page that contains a comprehensive Summary of Issues Not Added to IFRIC Agenda reflects only final (rather than tentative) agenda decisions made by the IFRIC, we have not changed our web page as a result of the 1 December 2005 IFRIC meeting.

The IASB held its monthly Board meeting on Tuesday to Friday, 13-16 December 2005. We have combined the preliminary and unofficial notes taken by Deloitte observers on a Separate Page.

Deloitte's e-learning was launched at the end of January 2004. Many of the downloaded modules have multiple users because organisations are permitted to install them on their own servers for the internal use of their employees or students. In addition, hundreds of thousands of additional modules have been completed online and offline by Deloitte staff. You can always access IFRS e-learning without charge by clicking on the light bulb icon on the IASPlus home page. Thirty-five modules are now available.