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News

IFRIC (International Financial Reporting Interpretations Committee) (blue) Image

Agenda for 7-8 January 2010 IFRIC meeting

05 Jan 2010

The International Financial Reporting Interpretations Committee (IFRIC) will meet at the IASB's offices in London on Thursday and Friday 7 and 8 January 2010 (morning only on 8 January).

The meeting is open to the public and will be webcast. The tentative agenda is shown below.

Agenda for the IFRIC MeetingThursday and Friday, 7 and 8 January 2010

Thursday 7 January 2010 (10:00-18:15h)

  • Introduction
  • IAS 16 Property, Plant and Equipment – Accounting for production phase stripping costs in the mining industry
  • IFRS 2 Share-based Payment – Vesting and non-vesting conditions
  • Review of Tentative Agenda Decisions published in November 2009 IFRIC Update
    • IAS 38 Intangible Assets – Amortisation method
    • IFRS 2 Share-based Payment – Contingent manner of settlement
    • IAS 27 Consolidated and Separate Financial Statements – Presentation of comparatives when applying the 'pooling of interests' method
    • IAS 27 Consolidated and Separate Financial Statements – Combined Financial Statements and Redefined Reporting Entities
    • IAS 18 Revenue – Receipt of a dividend of treasury shares
    • IFRS 4 Insurance Contracts and IAS 32 Financial Instruments Presentation – Scope issue for investments in REITs
    • IAS 32 Financial Instruments: Presentation – 'Fixed for fixed' condition
  • Annual Improvements – Deliberation of Comments Received
    • IFRS 1 First-time Adoption of IFRSs – Revaluation basis as deemed cost
    • IAS 27 – Impairment of investments in subsidiaries, jointly controlled entities and associates in the separate financial statements of the investor
    • IFRS 3 Business Combinations – Measurement of non-controlling interests
    • IFRS 3 – Transition requirements for contingent consideration from a business combination that occurred before the effective date of the revised IFRS
    • IFRS 7 Financial Instruments: Disclosures – Disclosures about the nature and extent of risks arising from financial instruments
    • IAS 28 Investments in Associates – Partial use of fair value for measurement of associates
    • IAS 39 Financial Instruments: Recognition and Measurement – Bifurcation of embedded foreign currency derivative
    • IAS 39 – Application of the fair value option
    • IAS 34 Interim Financial Reporting – Significant events and transactions
Friday 8 January 2010 (09:00-12:30h)
  • Staff Recommendations for Tentative Agenda Decision
    • IFRS 8 Operating Segments and IAS 36 Impairment of Assets – Transition provisions for IFRS 8 amendment
    • IAS 21 The Effects of changes in Foreign Exchange Rates – Determination of functional currency of investment holding company
    • IAS 32 Financial Instruments: Presentation – Debt/equity classification of instruments with obligation to deliver cash at the discretion of shareholders
    • IFRS 1 First-time adoption of International Financial Reporting Standards – Accounting for costs included in self-constructed assets on transition
    • IAS 39 Financial Instruments Recognition and Measurement – Unit of account for forward contracts with volumetric optionality
  • Administrative Session – IFRIC work in progress
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Stay Tuned Online – IFRS and UK GAAP update

08 Sep 2009

The Deloitte London IFRS Centre of Excellence is running a series of hour-long Internet-based financial reporting updates, aimed at helping finance teams keep up to speed with IFRSs and other financial reporting issues.

Each update lasts no more than an hour, and sessions are normally held three times a year, approximately at the end of March, July, and November. We intend to make a recording of each session available on IAS Plus for a period of at least four months from the date of the presentation. The 30 July 2009 Stay Tuned Online IFRS and UK GAAP Update archive is now available, covering the following topics:
  • IFRS for Small and Medium-sized Entities
  • ED 2009/5 Fair-value Measurement
  • DP2009/2 Credit Risk in Liability Measurement
  • IAS 39 The Sequel
  • ED 2009/6 Management Commentary
  • FRS 30 Heritage Assets and other UK developments
  • Other IFRS Developments
To access the recording Click Here (35.4mb WMV). When you click on this link, what happens will depend on how your computer is configured. The webcast may open directly in your media player, or you may be asked whether you want to open or save the file, or you may only be given a choice to save the file. You can play a saved file by clicking on it. There's a permanent link on our UK Country Page.

 

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November 2006 edition of EITF Roundup

02 May 2006

We have posted the (PDF 134k), which provides an overview of the issues discussed, consensuses reached, and administrative matters discussed at the 16 November 2006 meeting of FASB's Emerging Issues Task Force.

You will find past issues Here. Issues covered in the September 2006 edition include:
  • Issue No. 06-6, Debtor's Accounting for a Modification (or Exchange) of Convertible Debt Instruments
  • Issue No. 06-7, Issuer's Accounting for a Previously Bifurcated Conversion Option in a Convertible Debt Instrument When the Conversion Option No Longer Meets the Bifurcation Criteria in FASB Statement No. 133, Accounting for Derivative Instruments and Hedging Activities
  • Issue No. 06-8, Application of the Assessment of a Buyer's Continuing Investment Under FASB Statement No. 66, Sales of Real Estate, for Sales of Condominiums
  • Issue No. 06-9, Reporting a Change in (or Elimination of) a Previously Existing Difference Between the Fiscal Year-End of a Parent Company and That of a Consolidated Entity or Between the Reporting Period of an Investor and That of an Equity Method Investee
  • Issue No. 06-10, Accounting for Deferred Compensation and Postretirement Benefit Aspects of Collateral Assignment Split-Dollar Life Insurance Arrangements Issue No. 06-11, Accounting for Income Tax Benefits of Dividends on Share-Based Payment Awards
  • Issue No. 06-12, Application of AICPA Audit and Accounting Guide, Brokers and Dealers in Securities, to Entities That Engage in Commodity Trading Activities and Related Issues
IFAC (International Federation of Accountants) (lt gray) Image

IAESB seeks comments on draft strategic plan

02 May 2006

The International Accounting Education Standards Board (IAESB) is seeking comments on an exposure draft of its Strategic and Operational Plan for the Period 2007-2009 (PDF 98k).

The IAESB proposes to undertake three high priority activities, beginning in 2007. These are:
  • Conducting a fundamental review of the Framework for International Education Statements (IESs), considering developments in accounting education and the accountancy profession as a whole since this was first written;
  • Developing a benchmarking methodology to help IFAC members and others achieve the measurable implementation of IESs; and
  • Reviewing existing IESs to determine areas where the clarity of standards could be improved and/or additional guidance most usefully developed.
Comments on the exposure draft are requested by 28 February 2007. Click for Press Release (PDF 82k).
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Preparing for IAS seen as a critical US challenge

30 Dec 2000

Number 2 in the "ten most critical financial reporting challenges facing US public companies for the year 2001" identified by the Financial Executives Institute: "International Accounting Standards -- Prepare for changes in domestic GAAP that will ensure compatibility among the accounting principles of countries around the world." FEI News Release (PDF 23k). .

Number 2 in the "ten most critical financial reporting challenges facing US public companies for the year 2001" identified by the Financial Executives Institute: "International Accounting Standards -- Prepare for changes in domestic GAAP that will ensure compatibility among the accounting principles of countries around the world." FEI News Release (PDF 23k).

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Country updates on accounting standards added to IAS Plus website

16 Dec 2000

We've begun to add country updates on accounting standards to IAS Plus.

The country updates can be found on our jurisdiction pages.

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