Education sessions (IASB only)

Date recorded:

The IASB held education sessions to discuss:

  • Insurance contracts
    • Presentation of insurance contract revenue when there are changes in the pattern of expected claims.
    • Transition proposals associated with insurance contract revenue.
    • Measurement of insurance contracts that had been previously acquired in a business combination on transition.
  • Rate-regulated activities — Proposals for the scope of the draft interim Standard, as well as proposals for grandfathering, impairment, presentation, disclosure and transition.
  • Leases — Questions raised during the revised exposure drafting process related to the identification of lease components and the unit of account when applying the lease classification guidance.
  • Revenue recognition
    • Scope.
    • Accounting for repurchase agreements.
    • Application of the proposals to the asset management industry.
    • Consequential amendments associated with the transfer of non-financial assets.
    • Disclosure and transition requirements.

No decisions were taken at these sessions.

The IASB will discuss these topics at a decision-making sessions on Wednesday, 30 January (for leases, revenue recognition and certain insurance contracts’ topics) and Thursday, 31 January (for rate-regulated activities and certain insurance contracts’ topics). Observer notes for today’s education sessions will be incorporated into the meeting notes for those decision-making sessions.

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