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IASB work plan update for May 2014

  • IASB (International Accounting Standards Board) Image

May 29, 2014

After its recent meeting and the May 28 release of IFRS 15, "Revenue from Contracts with Customers," the IASB updated its work plan. A final pronouncement in the narrow-scope project on "Sales or contributions of assets between an investor and its associate/joint venture" is now expected in Q3 2014 instead of Q2 2014. The updated work plan also confirms that the narrow scope on "Share of other net asset changes" has been stopped because of a lack of support.

Current status

The revised time table for the major projects is now as follows:

Project Current status Next project step Expected timing
Conceptual Framework — Comprehensive IASB project Redeliberations Exposure draft Q4 2014
Financial instruments — Impairment Redeliberations Finalized IFRS Q2 2014
Financial instruments — Macro hedge accounting Discussion paper Public consultation Q2 and Q3 2014
Financial instruments — Limited reconsideration of IFRS 9 (classification and measurement) Redeliberations Finalized IFRS Q2 2014
Insurance contracts Re-exposure Redeliberations Q2 2014
Leases Re-exposure Redeliberations Q2 2014
Disclosure initiative — Amendments to IAS 1 Exposure draft Redeliberations Q3 2014
Disclosure initiative — Reconciliation of liabilities from financing activities Redeliberations Exposure draft Q4 2014

* Indicates a change since the prior work plan update.

Changes to the narrow-scope projects include:

Click here for the IASB work plan dated May 28, 2014 (link to IASB's Web site). We have updated our project pages to reflect the updated work plan and other known developments.

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