IASB Board Meeting 18-20 October 2004 Norwalk, Connnecticut, USA

Start date:

End date:

Location: London

Agenda Topics: October 2004 Board Meeting

Agenda Topics - IASB only, 18-19 October 2004

  • Business Combinations II
  • Convergence - Post-employment benefits
  • Convergence - Income taxes
  • IAS 37 amendments
  • IFRIC matters
  • Financial Reporting by Small and Medium-sized Entities
Agenda Topics - Joint IASB/FASB Meeting 20 October
  • Convergence - Income taxes
  • Conceptual framework
  • Financial instruments - update only
  • Revenue recognition

Monday 18 October 2004

  • Convergence - Post-employment Benefits - Review of pre-ballot draft and redeliberation of disclosure proposals.
  • Convergence - Income taxes - Intraperiod allocation of income taxes. Intraperiod tax allocation is the process of allocating current period income taxes among the different components of net income, other comprehensive income, and items debited or credited directly to capital accounts. IAS 12 requires intraperiod allocation, but does not provide specific guidance on the process of allocating income tax expense between the income statement components, other comprehensive income items, or items credited or charged directly to capital. FASB Statement 109, on the other hand, sets forth explicit guidance on the method of allocating tax expense or benefit among the various components. The IASB will explore the requirements of Statement 109.
  • IFRIC matters
  • Financial Reporting by Small and Medium-sized Entities - Preliminary analysis of responses to the Discussion Paper.

Tuesday 19 October 2004

  • Business Combinations Phase II -
    • Combinations by contract alone without the obtaining of an ownership interest
    • Transitional provisions for business combinations involving two or more mutual entities or by contract alone without the obtaining of an ownership interest
  • Convergence issues - Fair Value Hierarchy.
  • IAS 37 amendments

Wednesday 20 October 2004

  • Short-term convergence - Income taxes -
    • Backwards tracing
    • Exceptions to the basic principle - Practical issues related to foreign subsidiaries and foreign joint ventures.
  • Conceptual Framework - Planning issues for a proposed joint IASB/FASB project to develop a common conceptual framework.
  • Revenue Recognition - Implications of FASB's Fair Value Measurements exposure draft for the revenue recognition project
  • Financial instruments update

Related Topics

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