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June 2017 IASB meeting notes posted

  • IASB meeting (blue) Image

26 Jun 2017

The IASB met at its offices in London on Wednesday 21 and Thursday 22 June 2017. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

Wednesday 21 June

The meeting began with a Conceptual Framework discussion about limitations on what may constitute a reporting entity in situations when the reporting entity is not a legal entity.

The Board decided to propose removing one of the examples in IAS 8 when it releases an exposure draft later this year addressing the differences between accounting estimates and accounting policies.

The Board continued its discussion of Primary Financial Statements, focusing on approaches for describing capital structure, developing a principles-based approach for EBIT, management-defined performance measures, adjusted earnings per share and presenting the share of equity method profits or losses.

In the afternoon session the Board looked at rate-regulation examples and how the proposed model would apply to them.

Thursday 22 June

The meeting continued with IFRS Implementation Issues.

The Board supports a proposal to provide special transitional arrangements when an entity changes an accounting policy as a consequence of an IFRS Interpretations Committee agenda decision.

The Board discussed the feedback from the comment letters on the proposed amendment to IFRS 9 on prepayment features with negative compensation, including the likely effective date.

The education sessions on dynamic risk management focused on a high-level illustration of the dynamic aspect of dynamic risk management.

The meeting concluded with a further discussion of the definition of a business.

Please click to access the detailed notes taken by Deloitte observers for the entire meeting.

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