IASB meeting — 1–2 March 2011

Start date:

End date:

Location: London

IASB (International Accounting Standards Board)

The IASB and FASB held a special two-day joint meeting in early March to discuss a number of projects. The FASB joined via teleconference from Norwalk, CT while several IASB members joined by teleconference or telephone.

Agenda for the meeting

Tuesday, 1 March 2011

IASB-FASB joint meeting (12:00-16:15)

  • Revenue recognition
    • Onerous performance obligations - Exception for "loss-leader" contracts
    • Onerous performance obligations - Costs included in the onerous contract test
  • Insurance contracts
    • Locking in the discount rate
    • Discounting non-life contract liabilities
    • Scope
  • Financial statement presentation
    • Report on the results of outreach activities

Wednesday, 2 March 2011

IASB-FASB joint meeting (12:00-17:00)

  • Insurance contracts (continued from previous day)
    • Financial guarantee contracts
    • Field testing results
    • Information session on uncertainty in the measurement of insurance liabilities
    • Acquisition costs
    • Information session on presentation
  • Leases
    • Right-of-use model
    • Scope of the leases standard
  • Effective dates and transition methods - Summary of comments

Agenda papers for this meeting can be accessed on the IASB's website.

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