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Agenda for the upcoming IFASS meeting

  • IFASS (International Forum of Accounting Standard Setters) (dark green) Image

15 Feb 2018

The International Forum of Accounting Standard Setters (IFASS) will meet in Mumbai on 12 and 13 April 2018. Among the topics to be discussed are the strategy of the IFRS Interpretations Committee regarding tentative agenda decisions as well as approaches and experiences regarding the adoption of new standards (IFRS 15, IFRS 16, IFRS 17).

The full agenda is summarised below:

Thursday, 12 April 2018 (08:45-18:30)

  • Inaugural session - Adresses by various Indian representatives
  • Opening remarks & Administrative matters
  • Continuation of the internal discussions from the last meeting
  • Proposals on the IASB project on goodwill and impairment
  • IFRS IC Strategy - tentative agenda decisions
  • Jurisdictional/Standardsetters' updates
    • Should parent entities and subsidiaries be exempted from preparing individual financial statements where group financial statements are prepared?
    • Q&A on IASB's Work Plan including research project pipeline
    • Recent developments in the work of the Not-for-profit working group
  • Facilitating the adoption of new IFRSs - Approaches and experiences
    • IFRS 15: Enforceable right to payment: Off-plan apartment complex construction contracts
    • IFRS 16: Exchange of lessons learned
  • Two simultaneous optional sessions
    • Facilitating the adoption of new IFRSs - Approaches and experiences: IFRS 17 - Exchange of lessons learned
    • Consolidation of Not-for-profit entities under IFRS 10
  • Two simultaneous optional sessions
    • IFRS Taxonomy update
    • Opportunities, challenges and way forward for the implementation of NFRS and the NFRS for SMEs in Nepal


Friday, 13 April 2018 (09:00-16:15)

  • Equity instruments: Impairment & Recycling
  • A review of IASB’s tentative decisions on primary financial statements
  • BCUCC: Follow-up from London 2017
  • First thoughts on intangibles (FRC research project)
  • Closing remarks

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