IASB work plan updated
05 Nov 2013
Following its recent meeting, the International Accounting Standards Board (IASB) has updated its work plan. The work plan formalises plans to defer to the first quarter of 2014 the discussion paper on macro hedge accounting and the finalised standards on rate-regulated activities (interim IFRS) and revenue recognition. Deferrals have also been announced on a number of narrow scope projects.
Current status
The revised time table for the major projects is now as follows:
|
Project |
Current status |
Next project step |
Expected timing |
|---|---|---|---|
|
Discussion paper |
Redeliberations |
Q1/Q2 2014* |
|
|
Redeliberations |
Finalised IFRS |
Q1/Q2 2014 |
|
|
Redeliberations |
Finalised IFRS |
Q4 2013 |
|
|
Research/deliberations |
Discussion paper |
Q1 2014* |
|
|
Financial instruments — Limited reconsideration of IFRS 9 (classification and measurement) |
Redeliberations |
Finalised IFRS |
Q1/Q2 2014 |
|
Re-exposure |
Redeliberations |
Q4 2013 |
|
|
Re-exposure |
Redeliberations |
Q4 2013 |
|
|
Exposure draft |
Finalised IFRS |
Q1 2014* |
|
|
Research/deliberations |
Discussion paper |
Q1 2014 |
|
|
Redeliberations |
Finalised IFRS |
Q1 2014* |
* Indicates a change since the prior work plan update.
There have also been changes to the timing of a number of narrow scope projects:
- IFRS 11 — Acquisition of an interest in a joint operation (target IFRS — Q1 2014)
- IAS 16 / IAS 38 — Clarification of acceptable methods of depreciation and amortisation (target IFRS — Q1 2014)
- IAS 28 — Equity method: Share of other net asset changes (target IFRS — Q1 2014)
- IAS 12 — Recognition of deferred tax assets for unrealised losses (target ED — Q2 2014)
- IFRS 10 / IAS 28 — Sale or contribution of assets between an investor and its associate or joint venture (target IFRS — Q1 2014)
In addition, the publication of a request for information arising from the post-implementation review of IFRS 3 is now expected in the first quarter of 2014.
Click for IASB work plan dated 5 November 2013 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.
Related Topics
- Revenue recognition
- Conceptual Framework — Comprehensive IASB project
- Financial instruments — General hedge accounting
- Financial instruments — Impairment
- Financial instruments — Limited reconsideration of IFRS 9
- Financial instruments — Macro hedge accounting
- IAS 12 — Recognition of deferred tax assets for unrealised losses
- IAS 16/IAS 38 — Acceptable methods of depreciation and amortisation
- IAS 28 — Reflecting other net asset changes when applying the equity method of accounting
- IFRS 10/IAS 28 — Sales or contributions of assets between an investor and its associate/joint venture
- IFRS 11 — Acquisition of an interest in a joint operation
- Insurance contracts — Comprehensive project
- Leases (IFRS 16)
- Post-implementation review — IFRS 3
- Rate-regulated activities — Comprehensive project
- Rate-regulated activities — Interim standard
