The topics discussed were as follows (click through to detailed Deloitte observer notes for that topic):

• Thusday 21 October 2010
  • Financial Instruments: Hedge Accounting
  • Fair Value Measurement Guidance
  • Emissions Trading Schemes
  • Financial Instruments: Impairment
  • Asset and liability offsetting
• Friday 22 October 2010
  • Conceptual Framework Phase D: Reporting Entity
  • Financial Instruments with Characteristics of Equity
  • Other Comprehensive Income
  • Financial Statement Presentation

 

Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers for the entire meeting.

• IFRS in Focus — Octubre 2010 — IASB completa la primera fase del proyecto conjunto sobre la Estructura Conceptual para la Información Financiera (PDF 27k)

 

The sessions will be afternoon only; approximate times are:

• Wednesday, 10 November 2010, 3:00pm - 6:00pm (UK time)
• Thursday, 11 November 2010, 2:00pm - 5:00pm (UK time)
• Friday, 12 November 2010, 2:00pm - 5:00pm (UK time)

The objective of the DP is to obtain feedback from the FASB's stakeholders on (1) the time and effort they would need to adopt several new and significant accounting and reporting standards and (2) the dates those new standards should be effective.

On 19 October, the FASB and IASB published documents seeking views on when new financial reporting standards resulting primarily from their work to improve and achieve convergence of International Financial Reporting Standards (IFRSs) and US generally accepted accounting principles (GAAP) should become effective.

Click to download:

• Heads Up newsletter Input Sought on Transition and Effective Dates for Certain FASB Projects (PDF 98k)
• Access to the discussion paper (link to FASB website)
• Our previous story on FASB/IASB documents issued

 

The ED on revenue aims at improving financial reporting of revenue from contracts with customers and related costs. If adopted, the proposal would create a single revenue recognition standard for International Financial Reporting Standards (IFRSs) and US generally accepted accounting principles (GAAP) that would be applied across various industries and capital markets.

The ED on fixed dates would amend IFRS 1 by replacing references to a fixed transition date of 1 January 2004' with the date of transition to IFRSs'. As a result, entities adopting IFRSs for the first time would not have to restate derecognition transactions that occurred before the date of transition to IFRSs.

Topics to be discussed are:

• Report from the Monitoring Board on recent activities
• Report from the IFRS Foundation on recent activities
• Budget 2011 and financing strategy
• Strategy planning post completion MoU projects

The meeting is taking place between 2:30 - 4:00pm New York time (7:30 - 9:00pm London time) and will be webcast. More information and registration: click here (link to IASB website).

The article identifies seven misconceptions about IFRS, many of which deal with convergence and the adoption of IFRS in the United States. A group of IFRS experts debunk those misconceptions. You can access this article here (link to CFO.com website).

 

There is no charge to attend the web presentation, but you need to register to participate. You can do this now or any time before the presentation. Details of the webcast are as follows:

Topic:	Reinsurance specific aspects of the recently published exposure draft on insurance contracts
Date and time:	Monday, 25 October 2010, 10:00am and repeated again 3:00pm (UK time)
More information on the webcast and registration:	click here (link to IASB website)
More information on IAS Plus:	For our agenda project page click here

 

Click for:

• Our previous story on exposure draft ED/2010/9 Leases
• Access to the webcast (in Japanese)
• Japan Center of Excellence IFRS web pages (in Japanese)
• Our Japan country page
• Our summary of the leases project.

 

The webinar discusses why the FASB issued the discussion paper and discusses how and why the FASB's preliminary view on certain accounting issues differs from the IASB's exposure draft on insurance contracts.

• Access to the webinar (link to the FASB website)
• Our Insurance Contracts page.