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IASB meeting

Meetings diary


 IASB / FASB Meeting February 2012

 

Scheduled meeting of the IASB / FASB.

The meeting will take place on the 27 to 29 February and 1 and 2 March 2012

  Location: IASB Boardroom, First Floor, 30 Cannon Street, London EC4M 6XH

 

Observers:

To register for this meeting, please send an email to meetings@ifrs.org. Please state your name, company, and details of which days/sessions you would like to attend

Webcast Registration

You can register for this webcast any time up to the webcast starting. Shortly after the webcast has finished, a recording of this webcast / meeting will be available from the link below for a further 90 days. After 90 days, the recording will be available from the relevant project pages.

Day Time Register Time Register
Monday 27 February 09:00 � 15:30      
Tuesday 28 February 09:30 � 12:15    13:15 � 18:00   
Wednesday 29 February  09:00 � 12:30      
Thursday 1 March 10:45 � 13:45    13:45 � 17:30   
Friday 2 March 09:30 � 12:45   

Agenda papers to be discussed

The following agenda papers will be discussed at this week's meeting, to access, click on the titles below. Any changes to dates will be posted in red.

Agenda paper Title     Date to be discussed
2 Leases Project
At the joint meeting with the FASB, the board will discuss:
  a) Lessee accounting: subsequent measurement of the right-of-use asset recognised by the lessee.

Lessor accounting: leases excluded from the scope of the receivable and residual approach, click here.
Agenda paper 2: Leases: Cover note
Agenda paper 2A: Leases: Working Group Meeting Summary
Agenda paper 2B: Leases: Lessee Introduction
Agenda paper 2C: Leases: Lessee Approaches
Agenda paper 2C-Addendum: Leases: Lessee Approaches [posted 28 Feb]
Agenda paper 2D: Leases: Lessee Illustrations
Agenda paper 2E: Leases: Leases outside the scope of the lessor R&R model
Agenda paper 2F: Leases: Consequences of lessee accounting discussion and lessor investment property decision
[Zip file]
Monday 27, Tuesday 28 and Wednesday 29 February
3 Insurance Contracts project
The IASB and FASB will continue their joint discussion on the insurance contracts project, including:
 - a continuation of their discussion from the December meeting on the mechanics for determining and measuring onerous contracts,
 - whether to modify the measurement of liabilities for infrequent, high-severity events,
further consideration of the criteria on when to unbundle goods and services from insurance contracts, and
 - eligibility criteria and mechanics for the premium allocation approach, following the education session held during the January meeting.

In addition, the IASB will discuss the applicable standard for financial instruments with discretionary participation features, click here.
Agenda paper 3: Insurance Contracts: Cover note: Background information and progress report
Agenda paper 3A: Insurance Contracts: Onerous contracts
Agenda paper 3B: Insurance Contracts: Onerous contract � implications of tentative decisions
Agenda paper 3C: Insurance contracts: Measurement of liabilities for infrequent high-severity events
Agenda paper 3D: Insurance Contracts: Unbundling- Goods and ServicesAgenda paper 3E: Insurance Contracts: Premium Allocation Approach: Amendments to the January staff recommendations on Eligibility and Mechanics
Agenda paper 3F: Insurance Contracts: Premium Allocation Approach: Eligibility Criteria
Agenda paper 3G: Insurance Contracts: Premium Allocation Approach Mechanics
Agenda paper 3H: Insurance Contracts: Premium allocation approach � IASB staff recommendations on Eligibility
Agenda paper 3I: Insurance Contracts: Premium Allocation Approach � FASB staff recommendations on Eligibility 
[Zip file]
Monday 27 February
4 Financial Instruments: Impairment
During the meeting, the boards will discuss if and when financial assets should be transferred up to Bucket 1. The boards will also discuss the application of the developing impairment model to trade receivables and the interaction with the revenue recognition project, click here.
Agenda paper 4: Financial Instruments: Impairment: Cover Memo
Agenda paper 4A: Financial Instruments: Impairment; Direction of movement between buckets
Agenda paper 4B: Financial Instruments: Impairment: Application of the �three-bucket� model to trade receivables
Agenda paper 4C: Financial Instruments: Impairment: Application of the �three-bucket� model to trade receivables without a significant financing component
[Zip file]
Tuesday 28 February
5 Financial Instruments: Classification and measurement
In this session, the staff will discuss the plan for joint redeliberations of classification and measurement of financial instruments. The session will then discuss the assessment of contractual cash flow characteristics of financial assets. The objectives of this discussion are to more closely align the assessment in IFRS 9 and under the FASB�s tentative model and to address the feedback received by the IASB on the application of the contractual cash flows characteristics assessment in IFRS 9 to particular financial assets. Finally, there will be an education session that will discuss the IASB�s and FASB�s assessment of the business model within which financial assets are held. The objective of the education session is to ensure that each board understands the other model and their respective basis for conclusions, click here.
Agenda paper 5: Financial instruments: Classification and measurement: Cover paper
Agenda paper 5A: Financial instruments: Classification and measurement: Contractual cash flow characteristics of financial assets
Agenda paper 5B: Financial instruments: Classification and measurement: Business Model
 [Zip file]
Tuesday 28 February
7 Agenda paper 7: IFRIC Update  [PDF] Thursday 1 March
8 Agenda paper 8A: Interpretations Committee: IAS 2 Inventories - Long term prepayments for inventory supply contracts  [PDF]
  Agenda paper 8B: Interpretations Committee: IAS 37 Provisions, contingent liabilities and contingent assets�Levies charged for participation in a specific market�date of recognition of a liability [PDF]
Thursday 1 March
9 Agenda paper 9: IFRIC 15 Agreements for the Construction of Real Estate: Request for Board direction by the IFRS Interpretations Committee
Agenda paper 9A-Appendix: IFRIC 15 Agreements for the Construction of Real Estate: Continuous transfer to the customer
 [Zip file]
Thursday 1 March
10 Agenda paper 10: Put options written on non-controlling interests: Resolving the issue [PDF] Thursday 1 March
11  Macro Hedge Accounting
As part of the deliberations on macro hedge accounting an overview of accounting alternatives reflecting the discussions up to date will be discussed. The focus is on the valuation of the risk position as well as the accounting mechanics.
In addition, an overview of information required to understand the valuation of the risk position when based on a common risk management approach for interest rate risk is provided.
The cover paper to this series provides a project overview. There is no request for decisions from the Board in those papers, click here.
Agenda paper 11: Macro Hedge Accounting: Cover paper
Agenda paper 11A: Macro Hedge Accounting: Accounting model for macro hedging: valuation approach
 [Zip file]
Thursday 1 March
12 Annual Improvements Project (ED June 2011)
The Board published its exposure draft of proposed Improvements to International Financial Reporting Standards (2009 �2011 cycle) on June 2011 (ED June 2011). The comment period ended on 21 October 2011. The IFRS Interpretations Committee deliberated the comments received at the January 2012 meeting.
The purpose of this meeting is:
 (a) to present to the Board the IFRS Interpretations Committee�s recommendations on the annual improvements project issues that it discussed at its meeting in January 2012 including:
     (i) a summary of changes made in response to comments received on the issues that the Committee recommends be finalised;
     (ii) the proposed wording for the final amendments as set out in Agenda Papers 12B�12D
(b) to obtain a Board decision on the finalisation of these issues.

Click here for the cover sheet.
Agenda paper 12: Annual Improvements project �2009-2011 cycle: Cover note
Agenda paper 12A: Annual Improvements project�2009-2011 cycle: Overview and summary of comments received
Agenda paper 12B: Annual Improvements project � 2009-2011 cycle: Proposed wording for final amendments �changes tracked to Bound Volume
Agenda paper 12C: Annual Improvements project � 2009-2011 cycle: Proposed wording for final amendments �changes tracked to Exposure Draft
Agenda paper 12D: Annual Improvements project � 2009-2011 cycle: Comment letter analysis of the proposed changes to IAS 1 derived from the Conceptual Framework for Financial Reporting (issued in 2010).
Agenda paper 12D-Appendix: Annual Improvements project � 2009-2011 cycle: Appendix D to the AIP for IAS 1
 [Zip file]
Friday 1 March
13 Annual Improvements (2011-2013 cycle)
Discussion of whether two issues should be included in the omnibus exposure draft to be published in the third quarter of 2012, as recommended by the IFRS Interpretations Committee, click here.
Agenda paper 13: Annual Improvements (2011-2013 cycle): Cover note
Agenda paper 13A: Annual Improvements (2011-2013 cycle): IFRS 3 Business Combinations�Scope exclusion for the formation of a joint venture
Agenda paper 13B: Annual Improvements (2011-2013 cycle): IFRS 3 Business Combinations�Definition of a business
[Zip file]
Friday 1 March
14 Agenda paper 14: Insurance Contracts: Financial instruments with discretionary participation features - overview of papers
Agenda paper 14A: Insurance Contracts: Financial instruments with discretionary participation features � background information
Agenda paper 14B: Insurance Contracts: Financial instruments with discretionary participation features � applicable standard
Agenda paper 14C: Insurance Contracts: Financial instruments with discretionary participation features - definition
[Zip file]
Tuesday 28 February
15 Agenda paper 15A: Interpretations Committee: Agenda Rejection notices  [PDF] Thursday 1 March

 

Documents