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Friday 28 August 2015

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Work plan for IFRSs

All projects since 2006 in alphabetical order

Please see the Standards and Interpretations chart for details of all final Standards and Interpretations.


This table lists all IASB projects since 2006 and their status as of October 2011 and provides links to the respective project pages.
Project name
[click on the name to access the project page]
Status Last published due process document Mandatory application date*
Agenda consultation 2011 Ongoing August 2011 - Agenda consultation document
Amendments to IFRS 1 Completed December 2010 The IASB issued two narrow amendments to IFRS 1 - Severe Hyperinflation and Removal of Fixed Dates for First-time Adopters  1 July 2011
Completed January 2010 The IASB issued amendments that relieve first-time adopters of IFRSs from providing the additional disclosures introduced in March 2009 by Improving Disclosures about Financial Instruments (Amendments to IFRS 7

Click here to read the press release
1 July 2010
Completed July 2009 The IASB amended the retrospective application of IFRSs for first-time adopters

Click here to read the press release
Completed May 2008 The IASB issued Cost of an investment in a subsidiary (Amendments to IFRS 1 and IAS 27)

Click here to access the project page
1 January 2009
Amendments to IFRS 7 financial instruments disclosures Completed March 2009 The IASB issued Improving Disclosures about Financial Instruments (Amendments to IFRS 7 Financial Instruments: Disclosures) 1 January 2009
Annual improvements na Project cycle 2009-2011

Project cycle 2008-2010
1 January 2013
Borrowing costs Completed March 2007 The IASB issued a revised IAS 23 January 2009
Business combinations Completed January 2008 [Post-implementation Review scheduled for 2012] The IASB issued IFRS 3 Business Combinations and an amended version of IAS 27 Consolidated and Separate Financial Statements 1 July 2009
Conceptual Framework [project landing page] Ongoing
Phase A - Objectives and qualitative characteristics Completed September 2010 The IASB and the FASB, the US national standard-setter, complete the first stage of conceptual framework na
Phase B - Measurement objectives November 2005 - Discussion paper na
Phase D – Reporting entity March 2010 - Exposure draft
Consolidation [project landing page] n/a na
Consolidation and disclosure Completed May 2011 The IASB issued IFRS 10 Consolidated Financial Statements; IFRS 12 Disclosure of Interest in Other Entities 1 January 2013
Consolidation: Investment entities Ongoing August 2011 -  Exposure draft Investment Entities na
Credit risk in liability measurement integrated into IAS 39 replacement project October 2009 - The IASB integrates the project into its project to replace IAS 39 na
Derecognition - disclosures Completed October 2010 The IASB issued Disclosures-Transfers of Financial Assets (Amendments to IFRS 7) Annual periods beginning on or after 1 July 2011
Earnings per share Paused August 2008 - Exposure draft Simplifying Earnings per Share (Proposed amendments to IAS 33) na
Effective dates Paused October 2010 - The IASB together with the US-based FASB published a Request for Views to gather views with a comment period that ended on 31 January 2011 na
Embedded derivative Completed March 2009 The IASB issued Embedded Derivatives (Amendments to IFRIC 9 and IAS 39) Annual periods ending on or after 30 June 2009
Emissions trading schemes Research Project Agenda decision outstanding na
Extractive activities Paused July 2010 - Discussion paper Extractive activities na
Fair value measurement Completed May 2011 The IASB issued IFRS 13 Fair Value Measurement 1 January 2013
Financial Instruments projects [FI]
FI - Recognition and measurement Completed July 2008 The IASB issued Eligible Hedged Items (Amendment to IAS 39 Financial Instruments: Recognition and Measurement) 31 July 2008. Retrospective application required for annual periods beginning on or after 1 July 2009
FI with characteristics of equity Paused February 2008 - Discussion paper Financial Instruments with Characteristics of Equity na
FI - puttable instruments Completed February 2008 The IASB issued Amendments to IAS 32 Financial Instruments: Presentation and IAS 1 Presentation of Financial Statements Puttable Financial Instruments and Obligations Arising on Liquidation 1 January 2009
Replacement of IAS 39[project landing page]:
Phase I – Classification and measurement Completed November 2009

October 2010
The IASB issued IFRS 9 Financial Instruments. The standard covers the classification and measurement of financial assets.

The IASB adds the requirements for classifying and measuring financial liabilities to IFRS 9
See project Effective dates
Phase II – Amortised cost and impairment of financial assets Ongoing January 2011 - Supplementary document na
Phase III – Hedge accounting: Ongoing na
General hedge accounting December 2010 - Exposure draft Hedge Accounting
Macro hedge accounting
FI - Asset and liability offsetting Completed December 2011 The IASB and FASB agreed on common disclosure requirements related to offsetting and the IASB published Disclosures - Offsetting Financial Assets and Financial Liabilities (Amendments to IFRS 7) 

The IASB also published clarifications to its offsetting requirements entitled Offsetting Financial Assets and Financial Liabilities (Amendments to IAS 32)
Amendments to IFRS 7: 1 January 2013 with retrospective application required

Amendments to IAS 32: 1 January 2014 with retrospective application required
Financial statement presentation [project landing page]
Phase A Completed March 2006 The IASB issued a revised IAS 1 Presentation of Financial Statements
Phase B - Replacement of IAS 1 and IAS 7 Paused July 2010 - Staff draft
Phase B – Presentation of items of OCI Completed June 2011 The IASB issued Amendments to IAS 1 Presentation of Financial Statements 1 July 2012
FSP – Discontinued operations Paused July 2010  - Staff draft of proposed standard na
Government grants Deferred No due process document
Group cash-settled share-based payment transactions Completed June 2009 The IASB issued Group Cash-settled Share-based Payment Transactions (Amendments to IFRS 2) TBC
IFRS for SMEs Completed July 2009 The IASB published the IFRS for SMEs na
Reclassification of financial assets - Amendments to IAS 39 and IFRS 7 Completed October 2009 The IASB permitted the reclassification of financial instruments

Click here to read the press release
1 July 2008
Income taxes Completed December  2010 The IASB issued Amendments to IAS 12
Insurance contracts Ongoing July 2010 - Exposure draft Insurance contracts na
Intangible assets Deferred
Investment in debt instruments na December 2008 - Exposure draft Investments in Debt Instruments (Proposed amendments to IFRS 7)
Joint ventures Completed May 2011 The IASB issued IFRS 11 Joint arrangements January 2013
Leases Ongoing August 2010 - Exposure draft Leases na
Liabilities Paused April 2010 -  IASB staff paper Recognising liabilities arising from lawsuits na
Management commentary Completed December 2010 The IASB issued IFRS Practice Statement Management Commentary na
Post-employment benefits (including Pensions) [PEB] Completed June 2011 The IASB issued Amendments to IAS 19 Employee Benefits
1 January 2013
 PEB – Defined benefit plans Completed June 2011 The IASB issued IAS 19 Employee Benefits, which is effective from 1 January 2013.  
PEB – Termination benefits Completed June 2011 The IASB included amendments in Amendments to IAS 19 Employee Benefits
PEB - Prepayments of a minimum funding requirement Completed November 2009 The IASB issued Amendments to IFRIC 14 1 January 2013
PEB - Discount rate for Employee Benefits Stopped October 2009 - Board decides not to proceed na
Rate-regulated activities Paused July 2009 - Exposure draft Rate regulated activities na
Related party disclosures Completed November 2009 The IASB issued a revised IAS 24 Related Party Disclosures 1 January 2011
Revenue recognition Ongoing June 2010 - Exposure draft Revenue recognition na
Share-based payment - vesting conditions and cancellations (IFRS 2) Completed December 2007 The IASB issued Amendments to IFRS 2 Vesting Conditions and Cancellations 1 January 2009
Segment reporting Completed November 2006 The IASB issued IFRS 8 Segment reporting
Transition Guidance—amendments to IFRS 10  Completed December 2001 IFRS 10 Consolidated Financial Statements arising from the exposure draft published in December 2011.  

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