EFRAG Update detailing September/October developments
14 Oct, 2014
The European Financial Reporting Advisory Group (EFRAG) has released a new issue of its 'EFRAG Update' newsletter, summarising the discussions held at the EFRAG CFSS meeting of 18 September 2014, the EFRAG TEG conference calls of 16 September and 1 October 2014 and the EFRAG TEG meeting of 8 and 9 October 2014.
Highlights included approval of the following documents by EFRAG TEG:
- an invitation to comment relating to the endorsement for use in the European Union and European Economic Area of IFRS 15 Revenue from Contracts with Customers (not published yet);
- final endorsement advice on bearer plants;
- a final comment letter in response to ED/2014/2 Investment Entities: Applying the Consolidation Exception (Proposed amendments to IFRS 10 and IAS 28);
- a final comment letter in response to IOSCO's proposed guidance on the presentation of non-GAAP financial measures.
Additional topics discussed in the newsletter are:
- IFRS 3 - Post-implementation review
- Discount rates
- Disclosure initiative
- Financial instruments with characteristics of equity
- Leases
- Conceptual framework
- IFRS 9
- IASB’s annual improvements to IFRS (2012-2014 cycle)
- Equity Method in Separate Financial Statements (Amendments to IAS 27)
- Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and IAS 28)
- Insurance contracts
- ED/2014/4 Measuring Quoted Investments in Subsidiaries, Joint Ventures and Associates at Fair Value (Proposed amendments to IFRS 10, IFRS 12, IAS 27, IAS 28 and IAS 36 and Illustrative Examples for IFRS 13)
- IASB Discussion Paper on Macro Hedging
Please click for the new issue of the EFRAG Update (link to EFRAG website).