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IASB meeting

Meetings diary


 IASB Meeting June 2012

 

Scheduled meeting of the IASB.

The meeting will take place on the 12 to 14 June 2012

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

Update: All joint Leases and Investment Entity discussions were concluded on Wednesday 13 June, so sessions that were to be held on Friday 15 June have been moved forward to Thursday 14 June starting at 9am UK time. Please see the agenda for details.

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 [BST] Register
Tuesday 12 June  11:00 – 16:00   
Wednesday 13 June 09:00 – 17:00   
Thursday 14 June 09:00 – 17:00   
Please note that the webcast for Friday 15 June is cancelled

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
1 Agenda paper 1: Admin : IASB Update [PDF]
2 Cover sheet: Insurance Contracts
The IASB and FASB will continue their discussions on insurance contracts. They will have a decision making session on how cash flows should be allocated between unbundled components. They will also have an education session on an approach for measuring earned premiums.
In addition, the IASB will also be asked to consider the implications of different methods for measuring earned premiums on the timing of recognition of acquisition costs.
Agenda paper 2: Insurance contracts: Cover note: Background information and progress report
Agenda paper 2A: Insurance contracts: Allocation of cash flows between unbundled components I
Agenda paper 2B: Insurance contracts: Background to agenda paper 2C / FASB memo 84C
Agenda paper 2C: Insurance contracts: Exploring a method of measuring earned premiums
Agenda paper 2D: Insurance contracts: Timing of recognition of acquisition cost expense and related premiums
[Zip file]
Tuesday 12 June
3 Cover sheet: Leases
The IASB and FASB will have decision-making sessions on:
  - Lessee accounting, and whether there should be different lease expense recognition patterns for different lease contracts.
  - Lessor accounting, and whether any changes should be made to the lessor accounting proposals as a consequence of the lessee accounting discussions.

If the boards decide to propose different lease expense recognition patterns for different lease contracts, how to distinguish between those different lease contracts.
Agenda paper 3: Leases: Cover memo
Agenda paper 3A: Leases: Lease accounting – overview of papers to be discussed at this meeting
Agenda paper 3B: Leases: Lessee accounting approaches
Agenda paper 3C: Leases: Lessor accounting – consequences of lessee decisions
Agenda paper
3D: Leases: How to determine ‘the line’ for different types of leases
[Zip file]
Wednesday 13 June
6 Cover sheet: Classification and Measurement
In May 2012, the Board decided to require that eligible debt instruments are measured at fair value through other comprehensive income (FVOCI) based on the business model within which they are managed. At this session, the staff will ask the boards:
 - To confirm that the FVOCI measurement category should only be available for financial assets that pass the contractual cash flow characteristics assessment (ie contractual cash flows are solely payments of principal and interest).

To consider whether the fair value option should be extended to the FVOCI measurement category. The FASB will discuss the fair value option more broadly and consider whether the current requirements in IFRS 9 should be incorporated into the FASB’s tentative model.
Agenda paper 6: Classification and Measurement: Cover paper
Agenda paper 6A: Classification and Measurement: The scope of FVOCI for debt instruments
Agenda paper 6B: Classification and Measurement: Fair value option
[Zip file]
Wednesday 13 June
8 Agenda paper 8A: Investment Entities: Accounting by an investment entity parent for an investment entity subsidiary
Agenda paper 8B: Investment Entities: Accounting by a non-investment entity parent for an investment entity subsidiary
Agenda paper 8C: Investment Entities: IAS 28 consequential amendments
 [Zip file]
Wednesday 13 June
9 Cover sheet: IFRS for SMEs
When the IASB issued the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) in July 2009, it stated that it planned to undertake an initial comprehensive review of the Standard. At this meeting the IASB will be asked to approve a draft of an Invitation to Comment prepared by the SME Implementation Group and IASB staff. The Invitation to Comment will seek public views on whether there is a need to make any amendments to the IFRS for SMEs and it will constitute the IASB’s first step in that initial comprehensive review.
Agenda paper 9: IFRS for SMEs: International Financial Reporting Standard for Small and Medium-sized Entities: Cover paper
Agenda paper 9A: IFRS for SMEs: International Financial Reporting Standard for Small and Medium-sized Entities: Invitation to Comment
Agenda paper 9B: IFRS for SMEs: International Financial Reporting Standard for Small and Medium-sized Entities: Optional Response Document
 [Zip file]
Thursday 14 June
10 Agenda paper 10: IFRIC Update  [PDF] Thursday 14 June
11 Cover sheet: Issues from the Interpretations Committee
The Board will discuss two issues from the IFRS Interpretations Committee:
  1)  IAS 28 Investments in Associates and Joint Ventures, regarding application of the equity method when an associate’s equity changes outside of comprehensive income (paper 11A to C); and
  2)  An issue related to the meaning of ‘effective’ in paragraph 7 of IFRS 1 First-time Adoption of IFRSs (paper 11D).
Agenda paper 11A: Issues from the Interpretations Committee: Cover note
Agenda paper 11B: Issues from the Interpretations Committee: Summary of the discussions to date and the Committee’s proposed amendments to IAS 28
Agenda paper 11C: Annual Improvements—2011-2013 cycle: IFRS 1 First-time Adoption of IFRSs—Meaning of effective IFRSs
Agenda paper 11D: Annual Improvements—2011-2013 cycle: IFRS 1 First-time Adoption of IFRSs—Meaning of effective IFRSs
 
 [Zip file]
Thursday 14 June
12 Agenda paper 12: PIR of IFRS 8 Operating Segments: Covering memo to the agenda papers
Agenda paper 12A: PIR of IFRS 8: Request for permission to publish a Request for Information
Agenda paper 12B: PIR of IFRS 8: Review of academic literature to May 2012—preliminary findings
Agenda paper 12C: PIR of IFRS 8: Appendices: Summary of relevant literature to May 2012 amended on 14 June 
 
[Zip file]
Thursday 14 June
Documents