IASB issues work plan update for November 2014
24 Nov 2014
Following its November meeting, the International Accounting Standards Board (IASB) has updated its work plan. The revised plan adds a target date for amendments to IFRS for SMEs (Q1 2015) and a timeframe for the comment letter analysis (Q1 2015) on the discussion paper on macro hedging. Further, the IASB now expects to issue an exposure draft on the elimination of gains or losses arising from transactions between an entity and its associate or joint venture in Q1 2015 (previously Q4 2014). Lastly, it includes updates to the expected timing of board discussions for the short-term research projects on business combinations under common control (Q1 2015), discount rate (Q1 2015), emissions trading scheme (Q4 2014 through Q1 2015), equity method (Q4 2014 through Q2 2015), and financial instruments with characteristics of equity (Q4 2014), as well as, long-term research project on post-employment benefits (Q1 and Q2 2015).
Current status
The revised time table for the major projects is now as follows:
Project | Current status | Next project step | Expected timing |
---|---|---|---|
Redeliberations |
Exposure draft |
Q1 2015 |
|
Discussion paper |
Comment letter analysis |
Q1 2015* |
|
Re-exposure |
Redeliberations |
Q4 2014 |
|
Re-exposure |
Target IFRS |
H2 2015 |
|
Board discussion |
Targeted Discussion Paper |
Q2 2015 |
|
Exposure draft |
Target IFRS |
Q4 2014 |
|
Disclosure initiative — Reconciliation of liabilities from financing activities |
Redeliberations |
Exposure draft |
Q4 2014 |
Redeliberations |
Target IFRS |
Q1 2015* |
|
Discussion paper |
Public consultation |
Q4 2014 and Q1 2015 |
* Indicates a change since the previous work plan update on 28 October 2014.
Click for the IASB work plan dated 24 November 2014 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.
Related Topics
- Post-employment benefits — Comprehensive project
- Common control transactions
- Discount rates
- Pollutant pricing mechanisms (formerly Emissions trading schemes)
- Equity method of accounting
- Financial instruments — Macro hedge accounting
- Financial instruments with characteristics of equity
- IAS 28 — Elimination of gains arising from 'downstream' transactions
- IFRS 2 — Clarifications of classification and measurement of share based payment transactions
- IFRS for SMEs — Comprehensive review 2012-2014