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Monday 22 September 2014

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Research and other projects


 

Research and other projects
In 2009 the Board published an exposure draft addressing rate-regulated activities. In September 2010 the Board concluded that it could not resolve the matter quickly and decided to develop an agenda proposal for consideration for its future agenda in 2011.
In October 2010 the staff presented to the Board a summary of comments received on the Discussion Paper on  extractive activities prepared for it by national standard-setters from Australia, Canada, Norway and South Africa. The Board will use this feedback to help it assess whether to add a project to its agenda when it considers its future agenda in 2011.
Common control was added to the agenda in December 2007. The Board will consider whether to restart the project when it considers its future agenda in 2011.
In October 2009 the Board stopped work on credit risk in liability measurementas a free-standing work stream and decided not to reach a general conclusion on credit risk at this time but instead to incorporate the topic in the conceptual framework measurement project. The Board is also considering the input received on this topic when it considers the measurement of liabilities in other topics.
In April 2009 the Board considered comments received proposed amendments to IAS 33 Earnings per Share. In the light of other priorities, the Board stopped work on the project. The Board will consider whether to restart the project when it considers its future agenda in 2011
Work on the government grants project has been deferred pending progress in the revenue recognition and emissions trading schemes projects. The Board will consider whether to restart the project when it considers its future agenda in 2011.
In December 2007 the IASB decided not to add a project on  intangible assets to its active agenda. National standard-setters are carrying out research for a possible future project. The Australian Accounting Standards Board has published a discussion paper Initial Accounting for Internally Generated Intangible Assets. The Board will consider whether to restart the project when it considers its future agenda in 2011.

Other projects
In November 2010 the IASB and FASB decided to amend the timetable for projects that are important but less urgent. The projects affected are  Financial Statement Presentation (the replacement of IAS 1 and IAS 7), Financial instruments with characteristics of equity, Emissions Trading Schemes, Liabilities( IAS 37 amendments) and Income Taxes. The Board will review these projects as part of its agenda consultation process, at the beginning of 2012.

Conceptual Framework: The Board completed Phase A by publishing in September 2010 the Objectives and Qualitative characteristics chapters of the new Conceptual Framework. The IASB and the FASB will amend sections of their conceptual frameworks as they complete individual phases of the project. The boards have considered the comments they received on the exposure draft for Phase D Reporting Entity. In the light of those comments the boards have decided that they will need more time to finalise this chapter than they initially anticipated. The boards have not yet published discussion papers for Phase B Elements or Phase C Measurement. The IASB expects to recommence development of the Conceptual Framework at the beginning of 2012.

Contact us

Peter Clark 
Director of Research 
email: pclark@ifrs.org