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Notes from IASB-FASB meeting in Norwalk

  • IASB Mar 2011 Image

23 Mar 2011

The IASB and FASB are holding a joint meeting in Norwalk on 21-23 March 2011, continuing discussions held between the two boards as part of the regular IASB meeting held in London on 14-17 March.

We've posted Deloitte observer notes from some of the sessions held on the first and second days of this week's meeting (click through for direct access to the notes):

Monday, 21 March 2011 (IASB-FASB)

  • Revenue Recognition
    • Collectibility
    • Time value of money
  • Cross-cutting Issues
    • Disclosure issues in the revenue recognition, leases, and insurance contracts projects
  • Insurance Contracts
    • Unbundling: Overall considerations
    • Bifurcation of embedded derivatives
    • Objective for an explicit risk adjustment
    • Discounting for ultra long duration cash flows

Tuesday, 22 March 2011 (IASB-FASB)

  • Insurance Contracts
    • Explicit risk adjustment (education session)
    • Contract boundary
  • Leases
    • Contracts that contain a lease
    • Sale and leaseback transactions

The notes from the session on Leases held on Monday 21 March and Financial instruments impairment held on Tuesday 22 March will be posted soon. Also note the agenda for the meeting has been changed from that originally scheduled and a number of topics have been moved between days or removed from the agenda.

Click here to go to the preliminary and unofficial Notes Taken by Deloitte Observers for the entire meeting (including the IASB meeting from the previous week).

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