March

Notes from IASB March 2010 meeting day 5

20 Mar 2010

The IASB and FASB held a joint meeting at the IASB's offices in London on Monday-Friday 15-19 March 2010.

Click to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting.

Newsletter on reporting entity exposure draft

20 Mar 2010

Deloitte's IFRS Global Office has published an IAS Plus Update Newsletter – IASB publishes Exposure Draft on Conceptual Framework Description of the Reporting Entity.

On 11 March 2010, the IASB published for comment an exposure draft (ED) on the reporting entity concept. The proposals form part of a Joint Project to develop a common and improved conceptual framework that provides the basis for developing future accounting standards. Comment deadline is 16 July 2010. Our newsletter explains the proposals in the ED and their implications for consolidated financial statements and other types of financial statements. Click to view IAS Plus Update Newsletter – IASB publishes Exposure Draft on Conceptual Framework Description of the Reporting Entity (PDF 69k). All of our past IAS Plus newsletters are Here.

 

IFRS insurance accounting newsletter

19 Mar 2010

Deloitte (United Kingdom) has published the March 2010 issue of Insurance Accounting Newsletter.

This issue is titled Insurance Accounting Taking Shape and focuses on the discussions the joint IASB-FASB meetings of 10 February and 18 February. The expected publication date of the Exposure Draft is May 2010. Click to download Issue 12 of the Insurance Accounting Newsletter (PDF 130k).

 

Notes from IASB March 2010 meeting day 4

19 Mar 2010

The IASB and FASB are holding a joint meeting at the IASB's offices in London on Monday-Friday 15-19 March 2010.

Click to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting.

Costa Rica adopts the IFRS for SMEs

19 Mar 2010

The Costa Rican Institute of Certified Public Accountants is, by law, the accounting standard-setter in Costa Rica.

Currently, all companies follow IFRSs with the exception of some regulated entities (banks and finance entities, stockbrokers, and pension funds) which follow accounting policies adopted by the regulators. The Institute has adopted the IFRS for SMEs, to be effective for financial years beginning 1 January 2010. However, the Institute is still deliberating which entities will qualify as SMEs, and therefore are eligible to use the IFRS for SMEs. We have created a new Country Page for Costa Rica on IAS Plus.

 

Nominations invited for new SME Implementation Group

18 Mar 2010

The Trustees of the IASC Foundation have invited nominations for membership of the new SME Implementation Group (SMEIG).

The Terms of Reference and Operating Procedures of the SMEIG have also been released (available on the IASB's website http://www.ifrs.org/IFRS+for+SMEs/Implementation+Group.htm. The mission of the SMEIG is to support the international adoption of the IFRS for SMEs and to monitor its implementation. The SMEIG will have two principal responsibilities:
  1. to develop non-mandatory guidance for implementing the IFRS for SMEs in the form of questions and answers (Q&As) that will be made publicly available to interested parties on a timely basis, and
  2. to make recommendations to the International Accounting Standards Board (IASB) if and when needed regarding the need to amend the IFRS for SMEs.
The SMEIG will be chaired by Paul Pacter, the IASB's Director of Standards for SMEs. All members of the SMEIG will serve on a voluntary basis. The SMEIG may also include appointed observers who have the right to participate in SMEIG deliberations, but not to vote. Nominations and applications are invited by 30 April 2010. Click for Press Release (PDF 100k).

 

Notes from IASB March 2010 meeting day 3

18 Mar 2010

The IASB and FASB are holding a joint meeting at the IASB's offices in London on Monday-Friday 15-19 March 2010. Click to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting. .

The IASB and FASB are holding a joint meeting at the IASB's offices in London on Monday-Friday 15-19 March 2010. Click to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting.

New IFRS for SMEs Update newsletter

17 Mar 2010

The IASB has published the first issue of the IFRS for SMEs Update newsletter – a regular staff summary of news relating to the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs).

Contents of the first issue of IFRS for SMEs Update:

  • Trustees approve SMEIG terms of reference and operating procedures
  • First two IFRS for SMEs 'train the trainers' workshops held
  • IASC Foundation IFRS for SMEs training material
  • Translations of the IFRS for SMEs
  • Recent adoptions of the IFRS for SMEs
  • Where to obtain IFRS for SMEs materials

 

Notes from IASB March 2010 meeting day 2

17 Mar 2010

The IASB and FASB are holding a joint meeting at the IASB's offices in London on Monday-Friday 15-19 March 2010.

Click to go to the preliminary and unofficial Notes Taken by Deloitte Observers at the meeting.

Special joint IASB-FASB meeting 8 April

16 Mar 2010

The IASB has announced that a special joint IASB-FASB meeting has been scheduled at the IASB's offices in London on Thursday 8 April 2010.

The Boards will also hold their regular April monthly meeting in London on 19-23 April 2010.

Correction list for hyphenation

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