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Summary of the March 2018 GPF meeting

  • GPF meeting (mid blue) Image

27 Apr 2018

Representatives of the IASB met with the Global Preparers Forum (GPF) in London on 6 March 2018. Notes from the meeting have now been released.

The topics discussed at the meeting included:

  • IASB and IFRIC update. Members discussed management commentary, primary financial statements, and project overlap. The IASB staff also provided an update on how GPF members’ feedback was used.
  • Principles of disclosure. The staff discussed feedback from the discussion paper and potential next steps with the GPF members. Specifically, GPF members discussed addressing the disclosure problem, relative prioritisation of six topics included in the discussion paper, and the effect of technology and digital reporting on the project.
  • Primary financial statements. GPF members discussed management performance measures and management-defined earnings per share as well as the presentation of the share of profit or loss of associates and joint ventures accounted for using the equity method in the statement of performance.
  • Goodwill and impairment. The GPF members discussed simplifying the identification of intangible assets acquired in a business combination separately from goodwill as well as improving the effectiveness of impairment testing of goodwill by using the unrecognised headroom of a cash-generating unit as an additional input in the impairment testing of goodwill.

The next GPF meeting will be held on 14 and 15 June 2018 jointly with the Capital Markets Advisory Committee (CMAC).

The full meeting summary is available on the IASB's website.

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