Summary of changes

Details of the changes are:

Updates to major projects

• Financial instruments – Macro hedge accounting — a discussion paper is now expected in the third quarter of 2013 (previously second or third quarter of 2013)
• Rate-regulated activities – Interim standard — added a new entry for the re-deliberations of the exposure draft in the fourth quarter of 2013
• Revenue recognition — the expected date for this standard is now the third quarter of 2013 (previously second quarter of 2013)

Updates to narrow-scope projects

• Annual improvements 2011-2013 — target date for the final standard has been moved to the fourth quarter of 2013 (previously third quarter of 2013)
• Annual improvements 2012-2014 — target date for the exposure draft is now expected in the fourth quarter of 2013 (previously third quarter of 2013)
• IAS 16/IAS 38 – Clarification of acceptable methods of depreciation and amortisation — target date for the final IFRS has been moved to the fourth quarter of 2013 (previously third quarter of 2013)
• IAS 1 – Going concern disclosures — exposure draft is now expected in the third or fourth quarter of 2013 (previously second or third quarter of 2013)
• IAS 39/IFRS 9 - Novation of OTC derivatives and continuing designation for hedge accounting — target date for the final standard is now the second quarter of 2013 (previously second or third quarter of 2013)
• IAS 27 – Equity method — target date for the exposure draft is now the third quarter of 2013 (previously second or third quarter of 2013)

Projects where exposure drafts are expected in the second quarter include insurance contracts and leases. A discussion paper on the IASB's conceptual framework project is also expected in the second quarter. In addition, due process documents in a number of other projects are expected in the second or third quarters.

Click for IASB work plan dated 30 April 2013 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.