PROPOSED IASB INITIAL TECHNICAL AGENDAAS DISCUSSED WITH SAC 24 JULY 2001

First Priority Projects

• Preface
• Transition and First-Time Application of IAS
• Improvements Project
• Financial Instruments, including Limited Revisions to IAS 39 Derecognition, and the Joint Working Group proposal.
• Disclosure of Banking Activities
• Insurance Contracts
• Business Combinations
• Measurement
• Share-Based Payments
• Derecognition of Assets and Liabilities - both financial and non-financial assets
• Performance Reporting

• Impairment
• Intangible Assets
• Lease Accounting
• Research and Development

• Revaluations
• Extractive Industries
• Framework - especially definitions of assets, liabilities, equity, income and expenses.
• Liabilities and Equity
• Accounting for SMEs -- whether special guidance was needed for small and medium sized unlisted entities
• Management Discussion and Analysis - whether IASB should provide guidance on the preparation and presentation of information outside of the normal financial statements.

This summary is based on notes taken by observers at the SAC-IASB meeting and should not be regarded as an official or final summary.