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Updated IASB work plan — Analysis

  • IASB (International Accounting Standards Board) (blue) Image

17 Dec 2018

Following the IASB's December 2018 meeting, we have analysed the IASB work plan to see what changes have resulted from the meeting and other developments since the work plan was last revised in November. Changes are numerous and quite a few projects have been delayed.

Below is an analysis of all changes that were made to the work plan since our last analysis on 17 November 2018.

Standard-setting projects

  • no changes

Maintenance projects

  • Accounting Policies and Accounting Estimates — a decision on the project direction has been postponed to the second quarter of 2019 (was: December 2018)
  • Accounting Policy Changes — after discussing the feedback to the exposure draft, the next project step is now given a decision on the project direction (no date given)
  • Amendments to IFRS 17 'Insurance Contracts' — the IASB now acknowledges its decisions in November and December and has added a new project to its work plan; an exposure draft is expected in the first half of 2019
  • Fees in the ‘10 per cent’ test for Derecognition — an exposure draft is now expected in the first half of 2019 (no date given before)
  • Improvements to IFRS 8 'Operating Segments' — a feedback statement is now expected in February 2019 (was: December 2018)
  • Lease Incentives — an exposure draft is now expected in the first half of 2019 (no date given before)
  • Onerous Contracts — Cost of Fulfilling a Contract — after publication of ED/2018/2 earlier this month, the next project step is now discussing feedback on the exposure draft in the first half of 2019
  • Subsidiary as a First-time Adopter — an exposure draft is now expected in the first half of 2019 (no date given before)
  • Taxation in Fair Value Measurements — an exposure draft is now expected in the first half of 2019 (no date given before)
  • Updating a Reference to the Conceptual Framework — an exposure draft (tbc) is now expected in the first half of 2019 (no date given before)

Research projects

  • Business Combinations under Common Control — a discussion paper is now expected in 2020 (was: second half of 2019)
  • Discount Rates — a project summary in now expected in February 2019 (was: December 2018)
  • Dynamic Risk Management — the core model is now exected in the second half of 2019 (was: first half of 2019)
  • Goodwill and Impairment — a discussion paper or exposure draft is now expected in the second half of 2019 (no date given before)
  • IBOR Reform and the Effects on Financial Reporting — an exposure draft is now expected in the first half of 2019 (was: December 2018)
  • Post-implementation Review of IFRS 13 'Fair Value Measurement' — removed from the work plan as a summary report was published on 14 December 2018

Other projects

  • IFRS Taxonomy Update — 2018 General Improvements — a proposed update was published on 6 December; the next project step is now discussing feedback on the proposed update (no date given)
  • IFRS Taxonomy Update — Common Practice (IFRS 13) — an analysis of the feedback received is now expected in the first quarter of 2019 (was: January 2019)

The above is a faithful comparison of the IASB work plan at 17 November 2018 and at 17 December 2018. For access to the current IASB work plan at any time, please click here.

Correction list for hyphenation

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