Details of the changes are:

• Financial instruments — general hedge accounting - target date for issue of this section of IFRS 9 Financial Instruments is now the first quarter of 2013 (previously last quarter of 2012)
• Financial instruments - Limited reconsideration of IFRS 9 - new process step of redeliberations expected in the second quarter of 2013 (the exposure draft was issued on 28 November 2012 and is open for comment until 28 March 2013)
• Annual improvements 2012-2014 - following the publication of the proposals for the 2011-2013 cycle of improvements, introduction of new project for the next cycle, with a target date for an exposure draft of the third quarter of 2013 (reverting to the usual cycle timing)
• IAS 16/IAS 38 — acceptable methods of depreciation and amortisation - introduction of a target date for the proposed amendments in the third quarter of 2013
• Post-implementation review - IFRS 3 Business Combinations - clarification that the initiation of the review will be in the first or second quarter of 2013 (previously no earlier than the first quarter of 2013).

In addition, the IASB has introduced a new format for the presentation of its work plan, implementing a new tabbed format for display of its various projects.  The 'research projects' tab lists a number of projects which are not currently being actively pursued by the IASB.

Due process documents expected before the end of 2012

The following due process documents are expected to be issued by the end of 2012 (this includes those items already noted above in some cases):

• Exposure drafts
  • IFRS 10/IAS 28 - Sales or contributions of assets between an investor and its associate/joint venture
  • IFRS 11 - Acquisition of an interest in a joint operation
• Other documents
  • Agenda consultation feedback statement.

Click for IASB work plan as of 4 December 2012 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.