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Summary of the November 2018 GPF meeting

  • IFRS - IASB Image

Feb 13, 2019

On February 13, 2019, the International Accounting Standards Board (the Board) posted the minutes of the meeting of the Global Preparers Forum (GPF) with representatives of the IASB held in London on November 6, 2018.

The topics discussed at the meeting included:

  • IASB technical update. An update was given on IASB activities since the last GPF meeting.
  • Primary financial state­ments. The GPF members provided feedback on the IASB’s tentative decisions related to primary financial statements. Specifically, they discussed defined subtotals in the statement of financial performance, management performance measures, and disaggregation.
  • Management commentary. The GPF members discussed developments in the project to update IFRS Practice Statement 1 Management Commentary (Practice Statement), including the objective of management commentary, applying materiality in preparing management commentary, and principles of preparing management commentary.
  • Goodwill and im­pair­ment. The GPF members provided feedback on the disclosure objectives and requirements in development to provide users more information about a business combination and performance.
  • Financial instruments with characteristics of equity. The GPF members were provided with an overview of the key proposals in the Discussion Paper DP/2018/1 Financial Instruments with Characteristics of Equity.

Review the press release and full meeting summary on the Board's website.

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