Discussions at the joint IASB-ASBJ meeting
06 Nov, 2012
Representatives of the International Accounting Standards Board (IASB) and the Accounting Standards Board of Japan (ASBJ) held their sixteenth biannual meeting in London on 29 and 30 October 2012.
IASB and ASBJ discussed the following topics:
- Financial instruments: Classification and measurement (including the recent tentative decisions by the IASB and the FASB)
- Financial instruments: Impairment (including the recent tentative decisions by the IASB and the FASB)
- Revenue recognition (including the redeliberation items)
- Leases (including the recent deliberations that will lead to the re-exposure draft to be issued in the first quarter of 2013)
In addition, the IASB and the ASBJ discussed several research topics related to the IASB’s future agenda. The ASBJ indicated that it is willing to be actively involved in the IASB’s conceptual framework project through various activities including research.
The IASB has posted to its website a press release with a summary of the discussions.
