Regarding IFRSs, the Report of the Meeting (PDF 42k) states:

Strengthening accounting standards. As requested by the G20 Leaders, the FSB continues to monitor progress in implementing G20 and FSB recommendations for improved, converged accounting standards. FSB members welcomed the IASB's plan to continue its enhanced technical dialogue with prudential authorities and market regulators on financial institution reporting issues, and to conclude its full review of the financial instruments standard by the end of this year.

Deloitte (Colombia) has published the Spanish translation of the following IFRS publications:

• Boletín de Actualización IAS Plus – IASB emite enmiendas al IAS 24 (PDF 32k)
• Spanish version of: IAS Plus Update November 2009 – IASB issues amendments to IAS 24 (PDF 68k)

• Boletín de Actualización IAS Plus – IFRIC aclara la contabilidad de la deuda por swaps de patrimonio (PDF 28k)
• Spanish version of: IAS Plus Update December 2009 – IFRIC clarifies accounting for debt for equity swaps (IFRIC 19) (PDF 79k)

• Boletín de Actualización IAS Plus – IASB enmienda la IFRIC 14 (PDF 31k)
• Spanish version of: IAS Plus Update December 2009 – IASB amends IFRIC 14 (PDF 60k)

Nuestra página de recursos en español: Clic.

 

The topics discussed were as follows (click through to access detailed Deloitte observer notes for each topic):

 

THURSDAY 7 JANUARY 2010 (10:00-18:15)

Introduction

Active Committee projects

• IAS 16 – Accounting for production phase stripping costs in the mining industry
• IFRS 2 – Vesting and non-vesting conditions

Review of tentative agenda decisions published in November 2009 IFRIC Update

• IAS 38 – Amortisation method
• IFRS 2 – Contingent manner of settlement
• IAS 27 – Presentation of comparatives when applying the 'pooling of interests' method
• IAS 27 – Combined financial statements and redefined reporting entities
• IAS 18 – Receipt of a dividend of treasury shares
• IFRS 4 and IAS 32 – Scope issue for investments in REITs
• IAS 32 – 'Fixed for fixed' condition

Annual improvements – Deliberation of comments received

• IFRS 1 – Revaluation basis as deemed cost
• IAS 27 – Impairment of investments in subsidiaries, jointly controlled entities and associates in the separate financial statements of the investor
• IFRS 3 – Measurement of non-controlling interests
• IFRS 3 – Transition requirements for contingent consideration from a business combination that occurred before the effective date of the revised IFRS
• IFRS 7 – Disclosures about the nature and extent of risks arising from financial instruments
• IAS 28 – Partial use of fair value for measurement of associates
• IAS 34 – Significant events and transactions
• Remaining issues from August 2008 Annual Improvements ED

 

FRIDAY 8 JANUARY 2010 (09:00-12:30)

Staff recommendations for tentative agenda decisions

• IFRS 8 and IAS 36 – Transition provisions for IFRS 8 amendment
• IAS 21 – Determination of functional currency of investment holding company
• IAS 32 – Debt/equity classification of instruments with obligation to deliver cash at the discretion of shareholders
• IFRS 1 – Accounting for costs included in self-constructed assets on transition
• IAS 39 – Unit of account for forward contracts with volumetric optionality

Administrative session

 

Click to go to the preliminary and unofficial notes taken by Deloitte observers for the entire meeting.

• Boletín de Actualización IAS Plus – IFRS 9 Instrumentos financieros (PDF 43k)
• Spanish version of: IAS Plus Update October 2009 – IFRS 9 Financial Instruments (PDF 226k)

You will find our resources in Spanish Here.

 

The statements reflect early application of HKFRS 3 and Business Combinations (Revised in 2008) and HKAS 27 Consolidated and Separate Financial Statements (Revised in 2008) in advance of their effective dates. Because HKFRSs are identical to IFRSs, these statements also illustrate compliance with IFRSs for year ended 31 December 2009. Click to download the IFRS Model Financial Statements for 2009 in Chinese (PDF 1,214k).

 

They also contain additional disclosures that are considered to be best practice, particularly where such disclosures are included in illustrative examples provided with a specific Standard. Click to download the IFRS Model Financial Statements for 2009 in Chinese (PDF 2,420k).

 

Specific topics will include:

• Themes and highlights from the December SEC/AICPA Conference
• Recent developments related to US registrants' adoption of IFRSs
• Regulatory views on disclosures related to goodwill impairments and non-GAAP measures
• Comprehensive updates around the latest financial reporting developments

Details about the webcast:

• Title: Year-End Reporting Issues: An Update on Current Issues and Items on the Horizon
• Date and time: 13 January 2010, 2:00pm to 3:30pm US Eastern Standard Time (New York time)
• Click here for More Information and Registration

 

The newsletter explains Accounting Standards Update (ASU) 2010-03, which FASB issued on 6 January 2010 to align the FASB's oil and gas reserve estimation and disclosure requirements in ASC 932* with new requirements of the SEC that became effective on 31 December 2009. Click to Download the Heads Up Newsletter (PDF 132k).

 

*Accounting Standards Codification (ASC) 932 comprises guidance previously contained in FASB Statements 19 and 69, Interpretations 33 and 36, and FSP FAS 19-1.

The Board will not meet on Friday. The meeting will be open to public observation and will be webcast. Presented below is the agenda for the meeting.

IASB Board Meeting Agenda18-21 January 2010, London

Monday 18 January 2010 – Joint meeting with FASB (13:00-19:00pm London time) Fair Value Measurement Revenue Recognition Financial Instruments with the Characteristics of Equity Tuesday 19 January 2010 – Joint meeting with FASB (08:00-18:45pm London time) Insurance Contracts Financial Statement Presentation Consolidation Replacement of IAS 39: Hedge Accounting Wednesday 20 January 2010 – Joint meeting with FASB until 12:45pm (08:00-16:30pm London time) Joint Meeting: Leases Replacement of IAS 39: Classification and Measurement – Financial Liabilities IASB Meeting: Financial Statement Presentation Derecognition of Financial Instruments Leases Thursday 21 January 2010 (08:30-14:15pm London time) IFRIC Update Amendment to IFRS 1 – Exemption from Comparative IFRS 7 Disclosures IFRS 5: Discontinued Operations Post-employment Benefits

The update reflects the endorsement of the amendment to IAS 32 on classification of rights issues (see our article from 28 December). Click to download the Endorsement Status Report as of 7 January 2010 (PDF 119k).

The following seven IASB pronouncements await EC endorsement:

Standards IFRS 9 Financial Instruments Interpretations Amendment to IFRIC 14 Prepayments of a Minimum Funding Requirement IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments Amendments Improvements to IFRSs (issued 16 April 2009) Amendments to IFRS 2 Group Cash-settled Share-based Payment Transactions Amendments to IFRS 1 Additional Exemptions for First-time Adopters IAS 24 Revised Related Party Disclosures