24 Feb 2006
The International Financial Reporting Interpretations Committee (IFRIC) will meet at the IASB's offices in London on Thursday 2 March and Friday 3 March 2006. The agenda for the meeting is below: Thursday 2 March 2006 Introduction - Opening remarks; administrative matters; minutes of the January 2006 IFRIC meeting Service Concession Arrangements: Determining the accounting model - The dividing line between the financial (D13) and the intangible asset (D14) models Interaction of D12-14 with IFRIC 4 Determining Whether an Arrangement contains a Lease Analysis of remaining comments received on the draft Interpretations D12-14 IAS 18 Revenue Recognition - Sales of real estate IAS 19 Post-employment Benefits - The effect of a minimum funding requirement on the asset ceiling IAS 32 Financial Instruments: Disclosure and Presentation - Classification of a financial instrument as liability or equity IFRS 1 First-time Adoption of International Accounting Standards - Cost of a subsidiary in the separate financial statements of a parent Friday 3 March 2006 IFRIC Relationship with National Standard-Setters and National Interpretive Groups Customer Loyalty Programmes Review of Tentative agenda decisions published in December 2005 IFRIC Update IFRS 3 Business Combinations - Whether a new entity that pays cash can be identified as the acquirer IFRS 3 Business Combinations - 'Transitory' common control IAS 17 Leases - Leases of land that do not transfer title to the lessee IAS 12 Income Taxes - Scope IAS 18 Revenue - Subscriber acquisition costs in the telecommunications industry Review of Tentative agenda decisions published in January 2006 IFRIC Update IAS 27 Consolidated and Separate Financial Statements - Separate financial statements issued before consolidated financial statements Recommendations by Agenda Committee regarding requests for IFRIC agenda items IFRS 2 Share-based Payment - Share plans with cash alternatives at the discretion of the entity IFRS 2 Share-based Payment - Share plans with cash alternatives (grant date and vesting period) IFRS 2 Share-based Payment - Fair value measurement of postvesting transfer restrictions IAS 39 Financial Instruments: Recognition and Measurement - Aspects of derecognition in the context of securitisation IAS 39 Financial Instruments: Recognition and Measurement - Hedging inflation risk - whether inflation risk qualifies as a separable component for hedging purposes .
The International Financial Reporting Interpretations Committee (IFRIC) will meet at the IASB's offices in London on Thursday 2 March and Friday 3 March 2006. The agenda for the meeting is below:
Thursday 2 March 2006
Friday 3 March 2006
We have combined all of the notes taken by Deloitte observers at the International Accounting Standards Board's meeting on 21-24 February 2006 onto a Separate Agenda Page. .
We have combined all of the notes taken by Deloitte observers at the International Accounting Standards Board's meeting on 21-24 February 2006 onto a Separate Agenda Page.
As noted in our news story of 21 February 2006, FASB has issued Statement of Financial Accounting Standard No.
23 Feb 2006
During a panel discussion on 22 February 2006, two former chairmen of the US Securities and Exchange Commission, William Donaldson and Arthur Levitt, offered differing opinions on the benefits and likelihood of international convergence of accounting standards.
The Technical Expert Group of the European Financial Reporting Advisory Group (EFRAG) has written to IASB Chairman Sir David Tweedie recommending that the IASB organise a comprehensive global debate on measurement.
Measurement issues are at the core of many of the longer-duration projects on which the IASB is now working (including, for example, the projects considering revisions to IFRS 3 and IAS 37, and the fair value measurement guidance project). Many of these projects will determine the direction in which accounting will develop. We think it would be inappropriate for the IASB to publish any major new proposals or standards on measurement before the comprehensive measurement debate has taken place. Although we have argued before that the IASB should resolve framework issues before bringing forward proposals for standards that make assumptions about how those framework issues will be resolved, we understand that the IASB does not agree with this point of view. However, on measurement the issues involved are so fundamental and the concerns, misunderstandings, etc so great that we suspect that it would not be possible for the IASB to win acceptance for any such proposals or standards until the underlying fundamental issues have been resolved.
22 Feb 2006
The International Financial Reporting Interpretations Committee (IFRIC) will meet at the IASB's offices in London on Thursday 2 March 2006 (10.00am - 17.30pm) Friday 3 March 2006 (9.00am - 15.00pm).
On 20-21 February 2006, the International Federation of Accountants (IFAC) hosted a meeting with chief executives of accountancy organisations from around the world.
At its meeting on 17 February 2006, the European Commission's Accounting Regulatory Committee recommended that the Commission endorse the following pronouncements for use in Europe: IFRIC 7 Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies, issued 24 November 2005 Amendment to IAS 21 for Net Investment in a Foreign Entity issued 15 December 2005 The Commission is expected to consider these two items for endorsement in April or May 2006. The one pronouncement awaiting an ARC recommendation is IFRIC 8 Scope of IFRS 2, issued 12 January 2006. ARC is expected to vote in May 2006, with Commission action during the summer.
These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.