Further notes from the main February IASB meeting

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18 Feb 2011

The IASB is holding its regular monthly meeting in London on 15-18 February 2011, some of which is a joint meeting with the FASB.

We've posted Deloitte observer notes from the additional revenue recognition session held on the second day of the meeting and some notes from the third day of the meeting (click through for direct access to the notes):

Wednesday, 16 February 2011 (IASB-FASB)

Thursday, 17 February 2011 (IASB-FASB)

  • Leases
    • Distinguishing between leases and services
  • Financial Instruments: Impairment
    • Definition of the term 'write-off'
  • Revenue Recognition
    • Identification of separate performance obligations
    • Existence of a contract and definition of a performance obligation
    • Breakage and prepayments (notes to be posted soon)
    • Onerous performance obligations (notes to be posted soon)
  • Cross-cutting Issues
    • Taking uncertainty into account in the measurement of an asset or liability

Notes from the Thursday revenue recognition sessions on breakage and onerous contracts and the afternoon sessions on leases and insurance contracts will be posted soon.

Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers for the entire meeting.

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.