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Sunday 24 July 2016

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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 provides links to the respective project pages.
Project name
Status Last due process document that has been issued
Mandatory application date*
Agenda consultation 2011 Ongoing August 2011 - Agenda consultation document
n/a
Agriculture: Bearer Plants Completed June 2014 The IASB issued amendments to IAS 16 and IAS 41 for bearer plants
n/a
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 n/a 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 Ongoing May 2015 – Exposure Draft Conceptual Framework for Financial Reporting n/a
Consolidation
n/a n/a
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 n/a
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 n/a
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
Disclosure Initiative projects
Disclosure Initiative - Amendments to IAS 1 Completed December 2014 The IASB issued a final Standard in December 2014.
The Standard included clarifying amendments on materiality, order of the notes, subtotals, accounting policies and disaggregation of line items.
Click here to read the press release.
1 January 2016
Disclosure Initiative - Proposed amendments to IAS 7 Ongoing The IASB published an Exposure Draft of proposed amendments to IAS 7 Statement of Cash Flows in December 2014. It proposed new disclosure requirements about an entity’s financing activities and its cash and cash equivalents balances.
Click here to read the press release.
N/A
Disclosure Initiative - Materiality Ongoing The IASB will issue an Exposure Draft of a proposed Practice Statement on the application of materiality in Q4 2015. N/A
Disclosure Initiative - Proposed amendments to IAS 8 Ongoing The IASB is currently developing its proposals. An Exposure Draft is expected to be published in Q1 2016. N/A
Disclosure Initiative - Principles of Disclosure Ongoing The IASB is currently developing its proposals. A Discussion Paper is expected to be published in Q1 2016. N/A
Disclosure Initiative - Standards-level review of disclosures Ongoing The project is in its initial research and scoping stage. N/A
Earnings per share Paused August 2008 - Exposure draft Simplifying Earnings per Share (Proposed amendments to IAS 33) n/a
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 n/a
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 n/a
Extractive activities Paused July 2010 - Discussion paper Extractive activities n/a
Fair value measurement Completed May 2011 The IASB issued IFRS 13 Fair Value Measurement 1 January 2013
Financial Instruments projects
Financial Instruments - 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
Financial Instruments with characteristics of equity Paused February 2008 - Discussion paper Financial Instruments with Characteristics of Equity n/a
Financial Instruments - 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
Financial Instruments - 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
Replacement of IAS 39 projects
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 n/a
Phase III – Hedge accounting: Ongoing n/a
General hedge accounting December 2010 - Exposure draft Hedge Accounting
Macro hedge accounting
Financial Statement Presentation projects
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
n/a
Phase B – Presentation of items of OCI Completed June 2011 The IASB issued Amendments to IAS 1 Presentation of Financial Statements 1 July 2012
Financial Statement Presentation - Discontinued operations Paused July 2010  - Staff draft of proposed standard n/a
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 n/a
Comprehensive review of the IFRS for SMEs Completed May 2015 The IASB completed comprehensive review of the IFRS for SMEs n/a
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 June 2013 - Exposure Draft Insurance Contracts n/a
Intangible assets Deferred
Investment in debt instruments n/a 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 Completed January 2016
The IASB issued IFRS 16 Leases 1 January 2019
Liabilities Paused April 2010 -  IASB staff paper Recognising liabilities arising from lawsuits n/a
Management commentary Completed December 2010 The IASB issued IFRS Practice Statement Management Commentary n/a
Post-employment benefits (including Pensions)
Completed June 2011 The IASB issued Amendments to IAS 19 Employee Benefits
1 January 2013
Post-employment benefits - Defined benefit plans Completed June 2011 The IASB issued IAS 19 Employee Benefits, which is effective from 1 January 2013.  
Post-employment benefits - Termination benefits Completed June 2011 The IASB included amendments in Amendments to IAS 19 Employee Benefits
Post-employment benefits - Prepayments of a minimum funding requirement Completed November 2009 The IASB issued Amendments to IFRIC 14 1 January 2013
Post-employment benefits - Discount rate for Employee Benefits Stopped October 2009 - Board decides not to proceed n/a
Rate-regulated activities Paused July 2009 - Exposure draft Rate regulated activities n/a
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 n/a
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.