Discussions at the joint IASB-ASBJ meeting
Nov 04, 2011
Representatives of the International Accounting Standards Board (IASB) and the Accounting Standards Board of Japan (ASBJ) held their fourteenth biannual meeting in London on 31 October and 1 November 2011.
IASB and ASBJ discussed the following topics:
- IFRS - US GAAP convergence,
- convergence of Japanese GAAP and IFRSs,
- interpretation and practical issues relating to the voluntary application of IFRSs in Japan,
- the IASB Agenda Consultation 2011, and
- major projects on the IASB's agenda including Financial instruments: impairment, Revenue recognition, Leases, and the exemption from consolidation for investment entities.
The IASB has posted to its website a press release with a summary of the discussions.