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Notes from Day 1 of the special IASB-FASB meeting

  • IASB May 2011 Image

01 Jun 2011

The IASB is holding a special meeting in London on 31 May - 2 June 2011, much of which is a joint meeting with the FASB.

We've posted Deloitte observer notes from the first day of the meeting (click through for direct access to the notes):

Tuesday, 31 May 2011 (IASB/FASB)

  • Insurance contracts — Reinsurance
    • Definition of significant risk transfer
    • Interdependent contracts
    • Recognition of reinsurance contract
    • Ceded risk adjustment
    • Treatment of gains and losses
    • Cession of residual / composite margin on underlying insurance contracts
  • Revenue recognition
    • Costs of products manufactured for delivery under long-term production programs

Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers for the entire meeting.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.