IASB Board Meeting 16-17 November 2004 IASB Offices, London, United Kingdom

Start date:

End date:

Location: London

Agenda Topics



Monday 15 November 2004


  • Note: The Board will not meet on 15 November


Tuesday 16 November 2004


  • Accounting Standards for Small and Medium-sized Entities - The Board will review an analysis of all of the comment letters received on the Discussion Paper Preliminary Views on Accounting Standards for Small and Medium-sized Entities. Also, a subcommittee of Board members that has been appointed to consider the comment letters will present its preliminary thoughts on the best way forward with this project. Removed from Agenda
  • Post-employment Benefits - The Board will discuss issues arising from Board comments on the pre-ballot draft of proposed amendments to IAS 19 Employee Benefits
  • Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets - The Board will continue its discussion from September of issues that have arisen in drafting the amendments to IAS 37
  • Leases - The Board will discuss how assets and liabilities that arise from contractual rights and obligations in leases might be accounted for in the context of existing accounting standards


Wednesday 17 November 2004


  • Consolidation (including Special Purpose Entities) - The Board will consider at the November meeting the following issues that the Board has asked the staff to explore further:
    • Fund Managers with Dual Roles - How should the control definition be applied if a fiduciary such as a fund manager has power over another entity (the investee) by virtue of a dual role as fund manager and investor
    • Options Over Assets Versus Options Over Entities - How an investor's unexercised options and rights are relevant in assessing whether the investor controls the investee.
  • IFRIC Matters - The Board will discuss matters arising from the IFRIC's recent activities, including:
    • D4 Decommissioning, Restoration, and Environmental Rehabilitation Funds
    • D8 Members' Shares in Co-operative Entities - The staff will ask the Board to approve the publication of IFRIC Interpretation - D8 Members' Shares in Co-operative Entities
  • Business Combinations II - Purchase Method Procedures - The Board will consider transitional provisions - business combinations involving two or more mutual entities or by contract alone without the obtaining of an ownership interest
  • Joint Ventures - Short-term Convergence - At the July 2004 meeting, the Board considered a paper on the most appropriate way to progress a short-term project on the accounting for interests in joint ventures. The objective of such a short-term project would be to achieve convergence in the accounting for interests in jointly controlled entities by removing from IAS 31 Interests in Joint Ventures the option of accounting for interests in jointly controlled entities using either the equity method or proportionate consolidation. The Board expressed concern at that meeting over its ability to carry out the short-term convergence project without first completing the longer-term research project on joint venture arrangements being led by the Australian Accounting Standards Board. The Board did not conclude on whether to proceed with the short-term convergence project, but asked the staff to prepare for consideration at a future meeting an analysis:
    • outlining the issues that would need to be addressed in a short-term project whose objective is to eliminate from IAS 31 the option of accounting for interests in jointly controlled entities using either the equity method or proportionate consolidation; and
    • examining whether those issues could be resolved in a reasonable time.
    The Board will consider this analysis at the November meeting.
  • Amendments to IAS 39 Financial Instruments: Recognition and Measurement - Transition and Initial Recognition of Financial Assets and Financial Liabilities - The Board will consider comments received on the proposals to:
    • give entities a choice of applying the 'day 1' gain or loss recognition requirements in IAS 39 paragraph AG76 either prospectively to transactions entered into after 25 October 2002, or retrospectively as required by paragraph 104 of IAS 39
    • clarify that a gain and loss should be recognised after initial recognition only to the extent that it arises from a change in a factor (including time) that market participants would consider in setting a price


Thursday and Friday 18-19 November 2004 - Standards Advisory Council Meeting


  • Conceptual framework
  • Changes to IASB due process
  • Consolidation
  • Financial instruments - EU amendments to IAS 39
  • IASB Chairman's report
  • IASB project planning
  • IFRIC matters
  • IASC Foundation Constitution review
  • Project working groups
  • Revenue recognition
  • Roles of national standard-setters


Related Topics

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