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Saturday 01 November 2014

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Financial Instruments with Characteristics of Equity

Meeting summaries and observer notes


 IASB September 2010


 

 

The Board discussed the next steps in the project, specifically whether it should continue to pursue the approach proposed in the staff draft of the exposure draft Financial Instruments with Characteristics of Equity or another approach. The Board discussed the following possible ways forward:

  1. amend the requirements in IAS 32 Financial Instruments: Presentation to address specific practice problems and pursue adopting the amended version in the United States,
  2. make targeted improvements to US GAAP and IFRS to increase convergence between the two sets of accounting standards,
  3. pursue a narrow view of equity,
  4. defer the project until some of the other projects on the Board's agenda are completed, or
  5. continue working on the proposed approach.

The Board tentatively decided against pursuing alternatives (c), (d) or (e). The Board expects to discuss alternatives (a) and (b) with the FASB at a joint meeting in October.

 

Date: 9/14/2010