17-20 July 2007, London

Tuesday 17 July 2007 (afternoon only)

• Conceptual Framework – Elements and Recognition
• Earnings per Share The Board will consider some detailed issues that have been identified with the application of the fair value model in certain circumstances, to maintain convergence with FAS 128.
• Share-based payment – Vesting Conditions and Cancellations
• IFRIC Update

Wednesday 18 July 2007 (afternoon only)

• Financial Instruments Puttable at Fair Value and Obligations Arising on Liquidation – Re-deliberations of Exposure Draft: sweep issues
• Annual Improvements Process
  • 1. Should IFRS 5 be amended to clarify the accounting in consolidated financial statements of a subsidiary classified as held for sale?
  • 2. Should IAS 36 be amended to conform the disclosures provided for value in use and fair value less costs to sell when discounted cash flow models are used?
  • 3. Should the guidance in IAS 17 relating to the classification of leases of land and buildings be amended?
  • 4. Should IAS 10 be amended to clarify why dividends declared after the balance sheet date are not liabilities?
  • 5. Should IAS 19 be amended to address an inconsistency relating to accounting for plan administration costs?
  • 6. Should the components of borrowing costs in IAS 23 be aligned with the definition in IAS 39?
  • 7. Should IAS 34 be amended to clarify that EPS disclosures need only be given when required by IAS 33?
  • The Board will also be asked to consider some alternative accounting models to address the issues it discussed at the June meeting relating to replanting obligations for biological assets.
  • Transitional provisions and whether early adoption should be encouraged for any or all of the proposed amendments.

Thursday 19 July 2007

• IAS 27 Consolidated and Separate Financial Statements - Formation of a new parent entity
• Post-employment Benefits – Discussion paper issues
  1. Definitions
  2. Classification of benefits in payment
  3. Benefit promises that include a 'higher of' option
  4. Issues relating to the measurement of defined return promises
  5. Update from the working group meeting
• Income Taxes
  • The use of an undistributed or distributed rate to measure deferred tax assets and liabilities
  • Definitions of tax credits and investment tax credits
  • The definition and treatment of special deductions
• Conceptual Framework – Measurement and Reporting Entity

Friday 20 July 2007 (morning only)

• Liabilities – Amendments to IAS 37
  1. Distinguishing a liability from a business risk (including stand ready obligations)
  2. Uncertainty about the existence of a present obligation
  3. Constructive obligations