On March 21, 2017, the IASB met to discuss the status of its Goodwill and Impairment research project. No decisions were made. The staff will present proposals to the Board on: (i) simplifying the impairment testing model in IAS 36 Impairment of assets; (ii) improving the effectiveness of the impairment testing model, which will also focus on additional disclosures; and (iii) identifying intangible assets in a business combination.

Review the IASB Update and podcast on the IASB's Web site.

On March 21, 2017, the IASB met to complete its discussion of the research project on discount rates. The Board noted that the project has two outputs: (i) the project findings; and (ii) a list of matters for future staff consideration in standard-setting work relating to discount rates and other aspects of present value measurements.

The Board decided that: (i) it will not seek feedback from the public on the research outputs; and (ii) no further work on the research project is needed to meet its objectives.

In its work on other projects, the Board will review the research findings as they relate to existing requirements.

Review the IASB Update and podcast on the IASB's Web site.

On March 21, 2017, the IASB discussed guidance on classification, aggregation and disaggregation, as well as two proposed subtotals in the statement(s) of financial performance: (i) Earnings before interest and tax; and (ii) Management operating performance measure.

At future meetings the Board will discuss items the staff was asked to develop further or to clarify in the proposals presented at this meeting. The staff will also explore: (i) adjusted basic earnings per share; (ii) better ways to communicate information about other comprehensive income; (iii) presentation of the results of associates and joint ventures; (iv) targeted improvements in the statement of cash flows; and (v) development of illustrative examples, including those for specific industries (eg financial institutions), for the primary financial statements.

Review the IASB Update and podcast on the IASB's Web site.

On March 21, 2017, the IASB discussed whether and how the amendment to paragraph 11 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors should apply to accounting policies for rate-regulated activities. Further, the Board discussed the due process steps taken when developing References to the Conceptual Framework.

The staff will proceed with drafting the Conceptual Framework for Financial Reporting and References to the Conceptual Framework.

Review the IASB Update and podcast on the IASB's Web site.

On March 23, 2017, the IASB discussed: (i) the application of the Gamma approach to derivatives on ‘own equity’; (ii) a summary of interactions with other IFRS Standards; and (iii) due process and permission to ballot. No decisions were made.

Given its publication schedule, the Board expects to publish the Discussion Paper towards the end of 2017.

Review the IASB Update and podcast on the IASB's Web site.