IASB meeting — 21–22 June 2017

Start date:

End date:

Location: London

IASB (International Accounting Standards Board)The IASB met in public on Wednesday 21 and Thursday 22 June 2017.

Wednesday 21 June

The meeting began with a Conceptual Framework discussion about limitations on what may constitute a reporting entity in situations when the reporting entity is not a legal entity.

The Board decided to propose removing one of the examples in IAS 8 when it releases an exposure draft later this year addressing the differences between accounting estimates and accounting policies.

The Board continued its discussion of Primary Financial Statements, focusing on approaches for describing capital structure, developing a principles-based approach for EBIT, management-defined performance measures, adjusted earnings per share and presenting the share of equity method profits or losses.

In the afternoon session the Board looked at rate-regulation examples and how the proposed model would apply to them.

Thursday 22 June

The meeting continued with IFRS Implementation Issues. The Board supports a proposal to provide special transitional arrangements when an entity changes an accounting policy as a consequence of an IFRS Interpretations Committee agenda decision.

The Board discussed the feedback from the comment letters on the proposed amendment to IFRS 9 on prepayment features with negative compensation, including the likely effective date.

The education sessions on dynamic risk management focused on a high-level illustration of the dynamic aspect of dynamic risk management.

The meeting concluded with a further discussion of the definition of a business.


Agenda for the meeting

Wednesday 21 June 2017 (9:00–15:45)

  • Conceptual framework — Sweep issue: boundary of a reporting entity
  • Accounting policies and accounting estimates
  • Primary financial statements
    • Earnings before finance income/expenses and tax (EBIT) — approaches for describing capital structure
    • Presentation of the share of the profit or loss of associates and joint ventures accounted for using the equity method
  • Rate-reg­u­lated ac­tiv­i­ties (education session)

Thursday 22 June 2017 (9:00–15:30)

  • IFRS implementation issues
    • Amendments to IAS 28: Transition requirements for first-time adopters and due process steps
    • IAS 8: Policy changes resulting from agenda decisions
  • Prepayment features with negative compensation (proposed amendments to IFRS 9) — Summary of comment letters and discussion on project direction and plan
  • Dynamic risk management (education session)
  • Definition of a business — Analysis of the comments received on the remaining proposals included in the ED

Agenda papers for this meeting are available on the IASB's website.

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