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.