2020 Agenda Consultation [Research]
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The IASB is required to undertake a public consultation on its work plan every five years. The primary objective of the agenda consultation is to seek formal public input on the strategic direction and balance of the Board’s work plan. |
Research |
Oct 31, 2020 |
Accounting for Dynamic Risk Management: A Portfolio Revaluation Approach to Macro Hedging (Proposed amendments to IFRS 9) [ED]
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The DP represents the first stage in this project, by seeking public comment on a possible approach to accounting for an entity’s dynamic risk management activities, namely the portfolio revaluation approach (PRA). |
Deliberations |
Oct 31, 2020 |
Accounting Policies and Accounting Estimates (Potential Amendments to IAS 8) [ED]
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The purpose of this project is to clarify the distinction between a change in an accounting policy and a change in an accounting estimate, in relation to the application of IAS 8. |
Exposure draft |
Nov 30, 2020 |
Amendments to IFRS 17, Insurance Contracts [Completed]
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The objective of this project is to address concerns and implementation challenges raised since the IFRS 17 was issued and to consider whether there is a need to amend the Standard. |
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Nov 30, 2020 |
Business Combinations under Common Control (Potential Amendments to IFRS 3) [DP]
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The essence of the project is to identify whether and when an entity should continue to use the previous carrying amounts of a transferred business (carry-over accounting) and whether and when it should apply business combination accounting. |
Discussion paper |
Nov 30, 2020 |
Classification of Liabilities as Current or Non-current (Amendments to IAS 1) [Completed]
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The amendments aim at a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangements in place at the reporting date. |
Exposure draft |
Oct 31, 2020 |
Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) [ED]
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The proposed narrow-scope amendment would narrow the initial recognition exemption in paragraphs 15 and 24 of IAS 12 so that it would not apply to transactions that give rise to both taxable and deductible temporary differences, to the extent the amounts recognized for the temporary differences are the same
At its meeting on October 24, 2018, the International Accounting Standards Board discussed the IFRS Interpretations Committee’s recommendation to propose a narrow-scope amendment to IAS 12, Income Taxes. The proposed amendment relates to the recognition of deferred tax when an entity accounts for transactions, such as leases or decommissioning obligations, by recognizing both an asset and a liability.
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Exposure draft |
Nov 30, 2020 |
Disclosure initiative — Accounting Policies [ED]
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The objective of this project is to develop guidance and examples to help entities apply materiality judgements to accounting policy disclosure. |
Exposure draft |
Nov 30, 2020 |
Equity Method (Possible amendments to IAS 28) [Research]
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The IASB is undertaking research to assess whether application problems with the equity method as set out in IAS 28, Investments in Associates and Joint Ventures, can be addressed in consolidated and individual financial statements by identifying and explaining the principles of IAS 28 |
Research |
Oct 31, 2020 |
Extractive Industries (Possible replacement of IFRS 6, Exploration for and Evaluation of Mineral Resources) [Research]
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The IASB is gathering evidence to help decide whether to start a project to develop proposals to replace IFRS 6, Exploration for and Evaluation of Mineral Resources. |
Research |
Oct 31, 2020 |
Goodwill and Impairment [ED]
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The objective of this project is to consider how to address the three areas of focus identified in the Post-implementation Review of IFRS 3, Business Combinations. |
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Oct 31, 2020 |
IBOR Reform and the Effects on Financial Reporting – Phase II [Completed]
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The objective of this project is to assess the potential financial reporting implications when an existing interest rate benchmark is replaced with an alternative interest rate (replacement issues). |
Completed |
Dec 31, 2020 |
IFRS Taxonomy Update (Amendments to IFRS 17, IFRS 4 and IAS 16) [ED]
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On July 16, 2020, the IFRS Foundation published a Proposed Taxonomy Update, 'IFRS Taxonomy 2020 — 'Amendments to IFRS 17', 'Extension of the Temporary Exemption from Applying IFRS 9' and 'Property, Plant and Equipment — Proceeds before Intended Use''. Comments are requested by September 14, 2020. |
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Oct 31, 2020 |
IFRS Taxonomy Update (General Improvements and Common Practice — IAS 19, Employee Benefits) [ED]
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The proposed update includes elements to reflect common reporting practice and new and amended labels to clarify the accounting meaning and intended use of some existing elements. |
Exposure draft |
Nov 30, 2020 |
IFRS Taxonomy Update (General Improvements and Common Practice — Presentation of Information in Primary Financial Statements [ED]
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The proposed update includes elements to reflect common reporting practice and new and amended labels to clarify the accounting meaning and intended use of some existing elements. |
Exposure draft |
Oct 31, 2020 |
IFRS Taxonomy Update (Interest Rate Benchmark Reform – Phase 2) [Completed]
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The update reflects the Interest Rate Benchmark Reform—Phase 2, issued in August 2020, which amends IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 |
Completed |
Dec 31, 2020 |
Lack of Exchangeability (Possible Amendments to IAS 21) [Research]
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The objective of this project is to undertake narrow-scope standard-setting on the spot exchange rate an entity uses when exchangeability between two currencies is lacking |
Research |
Oct 31, 2020 |
Lease Liability in a Sale and Leaseback [ED]
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The objective of this project is to amend IFRS 16 to specify how the seller-lessee applies the subsequent measurement requirements in IFRS 16 to the lease liability that arises in a sale and leaseback transaction. |
Exposure draft |
Dec 31, 2020 |
Management Commentary (Wider corporate reporting) [Research]
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This purpose of this project is to revise and update the “Management Commentary Practice Statement” issued in 2010. |
Research |
Nov 30, 2020 |
Pension Benefits that Depend on Asset Returns (Possible amendments to IAS 19) [Research]
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The objective of this project is to develop proposals for targeted amendments to the requirements for defined benefit plans in IAS 19, Employee Benefits. |
Research |
Oct 31, 2020 |