Financial Instruments with Characteristics of Equity (Potential Amendments to IAS 32) [DP]
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Comment period ended on January 7, 2019 |
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Next steps: |
The IASB plans to decide the project direction in the second half of 2020 |
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Last updated: |
December 2019 |
Overview
This project formed part of the Memorandum of Understanding (MOU) between the International Accounting Standards Board (IASB) and the FASB. The MOU sets out a Roadmap of Convergence between IFRS® Standards and US GAAP.
The objective of this project is to improve and simplify the financial reporting requirements for financial instruments with characteristics of equity. Specifically, this project is intended to:
- Develop a better distinction between equity and non-equity instruments; and
- Converge IFRS and US GAAP in this area.
Other developments
November 2019
On November 25, 2019, the IASB staff updated the Work Plan to indicate that the Board plans to decide the project direction in the second half of 2020.
October 2019
On October 25, 2019, the IASB® staff updated the work plan to indicate that the Board expects to decide the project direction in Q1/2020
On October 1, 2019, the IASB® staff updated the work plan to indicate that the Board expects to decide the project direction in December 2019.
July 2019
On July 29, 2019, the IASB® staff updated the work plan to indicate that the Board expects to decide the project direction in Q4/2019.
March 2019
On March 14, 2019, the IASB® staff updated the work plan to indicate that the Board will decide the project direction in the second half of 2019.
January 2019
On January 25, 2019, the IASB® staff updated the work plan to indicate that the Board expects to review the Discussion Paper feedback in March 2019.
November 2018
In November 2018, the IASB staff updated the work plan to indicate that the IASB expects to review the Discussion Paper feedback in Q1/2019.
July 2018
On July 18, 2018, the IASB® staff updated the work plan to indicate that the Board plans to review the Discussion Paper feedback in the 1st half of 2019.
June 2018
On June 28, 2018, the IASB published a comprehensive discussion paper DP/2018/1 Financial Instruments with Characteristics of Equity. The discussion paper defines the principles for the classification of financial liabilities and equity instruments without, however, fundamentally changing the existing classification outcomes of IAS 32. The IASB's proposed preferred approach is based on two features, timing and amount, and is accompanied by the provision of additional information through a separate presentation of expenses and income from certain financial liabilities in other comprehensive income and additional disclosures. The comment period ends on January 7, 2019.
March 2018
On March 23, 2018, the IASB® staff updated the work plan to indicate that the Board expects to issue a Discussion Paper in June 2018.
January 2018
On January 26, 2018, the IASB Staff updated this project to indicate that the IASB now expects to issue a Discussion Paper in Q2/2018.
September 2017
On September 22, 2017, the IASB staff updated the work plan to indicate that the IASB expects to issue the Discussion Paper in the 1st half of 2018.
June 2017
In June 2017, the IASB staff updated the work plan to indicate that the IASB expects to issue a Discussion Paper in Q4/2017.
March 2017
On March 23, 2017, the IASB staff updated the Work Plan in respect of this project to indicate that this project is now in a drafting stage and that the IASB expects to publish a Discussion Paper for comment after September 2017.
December 2016
On December 15, 2016, the IASB staff updated the Work Plan in respect of this project to indicate that the IASB expects to publish a Discussion Paper for comment after June 2017.
September 2016
On September 23, 2016, the IASB staff updated the Work Plan in respect of this project to indicate that the IASB expects to publish a Discussion Paper for comment sometime after March 31, 2017.
July 2016
On July 20, 2016, the IASB staff updated the Work Plan in respect of this project to indicate that the IASB expects to issue a Discussion Paper for comment sometime after January 31, 2017.
May 2012
This is not an active project of the IASB. At its meeting on May 21-25, 2012, however, the IASB unanimously supported initiating a research programme focusing initially on various items, including financial instruments with the characteristics of equity.
February 2008
On February 28, 2008 the IASB published a Discussion Paper, Financial Instruments with Characteristics of Equity, (“the DP”). The DP was open for comment until September 5, 2008.
