Board Meeting Agenda

12-14 December 2006, London

Tuesday 12 December 2006

• IFRIC: Draft IFRIC Due Process Handbook
• Post-employment Benefits– Discussion Paper
  • 1. Scope
  • 2. Options for distinguishing defined benefit and defined contribution plans.
• Consolidations – Application of the control model to fund managers and investment companies
• Short-term Convergence: Borrowing Costs – Comment letter analysis
• Conceptual Framework – Reporting entity phase

Wednesday 13 December 2006

• Financial Instruments – Interest margin hedging [Education Session]
  • Representatives from the European Banking Federation will hold an education session for the Board, at which they will present a proposed alternative hedge accounting model.
• Annual Improvements - 2006 [Please note this session may be moved to Tuesday 12 December if other sessions on that day take less time than anticipated]
  • 1. Should IAS 1 Presentation of Financial Statements be amended to provide guidance on situations where the financial statements of an entity are based on, but not in full compliance with, IFRSs?
  • 2. Should the term 'point-of-sale costs' in IAS 41 Agriculture be replaced with 'costs to sell' to improve consistency with other IFRSs?
  • 3. Should IAS 38 Intangible Assets permit the use of the unit of production method of amortisation when it results in a lower amount of accumulated amortisation than the straight-line method?
• Financial Instruments – Hedging of portions of cash flow or fair value exposure
• Financial Instruments – Due Process Document: Recognition and Measurement

Thursday 14 December 2006

• Technical plan
• Financial Statement Presentation phase A – Exposure Draft of Proposed Amendments to IAS 1 Presentation of Financial Statements: Comment letter analysis.
• Financial Statement Presentation phase B:
  • Other comprehensive income
  • The statement of cash flows
  • Application of the working format to financial institutions
  • Tentative decisions to date and comprehensive illustration
• Business Combinations Phase II– Redeliberations of the proposed revised IFRS 3:
  • Non-controlling interests and goodwill: Questions and answers
  • Combinations between mutual entities
  • Accounting for business combinations achieved by contract alone or in the absence of a transaction involving the acquirer