This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IASB will consider four possible new agenda projects

  • 2007dec.gif Image

11 Dec 2007

The International Accounting Standards Board will meet on Tuesday to Friday, 11-14 December 2007. At the session on Wednesday 12 December 2007, the Board will consider staff proposals for adding the following four projects to the Board's active agenda:

  • Intangible assets excluding goodwill. The project proposal notes that, ideally, the scope of the project should be the initial accounting for identifiable intangible assets other than those acquired in a business combination (with a focus on, but not limited to, internally generated intangible assets) and the subsequent accounting for all identifiable intangible assets. Because of resource constraints, the initial step would be a disclosure-only project beginning with a Discussion Paper.
  • Accounting for emissions trading schemes. The Board added this project to its agenda in September 2005 following withdrawal of IFRIC 3 Emission Rights. But the project has been deferred pending progress on the Board's project on Liabilities.
  • Common control transactions. Scope of the project would be accounting for combinations between entities or businesses under common control in the acquirer's consolidated and separate financial statements. The project would include clarifying the description of a combination between entities or businesses under common control currently in IFRS 3.
  • Management commentary. The objective would be to develop a model for a narrative report, that would accompany the financial statements, setting out management's commentary on the financial statements. The project would build on the Discussion Paper that the Board published for comment in October 2005.

The recommendation of the IASB staff directors is to add all but the intangible assets project to the agenda. The agenda proposals are available on the IASB's Website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.