IAS 15 (1981) had required enterprises to present supplementary information on one of two bases: (1) adjusted for changes in the general price level or (2) balance sheet items measured at replacement cost. In 1989, the IASC had made the Standard optional, and companies stopped providing the information. Meanwhile, subsequent Standards, including IAS 16, 39, 40, and 41, have addressed reporting the effects of changing prices for individual classes of assets.

We have updated the following agenda project pages on our website:

• Business Combinations
• Financial Activities
• First-Time Application of IFRS
• IAS 39 Revisions.
• Improvements to IAS
• Insurance Contracts

Agenda topics are:

• Business Combinations
• Improvements to Existing IFRS: IAS 1, IAS 8, IAS 15, IAS 17, IAS 27, and IAS 28
• Insurance Contracts
• IAS 39, Financial Instruments: Recognition and Measurements - proposed amendments
• Standing Interpretations Committee: Interpretations for Approval

Mr. Prada made the presentation to the Council if IFAC at the Council's 14-15 November meeting.

Click for Press Release (PDF 82k).

The constitutional changes include:

• Changing the committee's name to International Financial Reporting Issues Committee (IFRIC).
• Broadening the committee's mandate so it can address issues not specifically covered in an existing IFRS.
• Creating the position of a non-voting chair of IFRIC, that position to be filled by one of the members of the IASB, the Director of Technical Activities, or a member of the IASB's senior technical staff. Click here for the Full Constitution. Comments are requested by 15 February 2002. Comments on the draft Preface are also due on this date. [Note: link to 'Full Constitution' now reflects the revisions as of 1 July 2005.]

Click to go to Summary of IASB's 27-30 November 2001 Meeting. It had originally been presented as several lengthy news items.

Click to go to Summary of IASB's 27-30 November 2001 Meeting. It had originally been presented as several lengthy news items.

A quarter of the respondents were from Europe and Asia-Pacific, the rest from North America. AIMR surveyed its members "to gauge their response to a proposed agenda topic of the International Accounting Standards Board (IASB) that could require companies to report the fair value of stock options granted – including those to employees – as an expense on the income statement, reducing earnings". 81% of respondents use information about stock options when evaluating a firm's performance and determining its value. Click for AIMR Press Release. Click here for Information about IASB's Project.

Click to go to Summary of IASB's 27-30 November 2001 Meeting. It had originally been presented as several lengthy news items.