

IFRS 3 Business Combinations-Definition of a business (Agenda Paper 13) However, after the discussion, all 13 IASB members present supported the Interpretations Committee's continued discussion of the issue, and noted the possibility that the Interpretations Committee might develop an Interpretation to clarify the type of interests that are included in the net investment in an associate or joint venture.įeedback received from the IASB will be provided to the Interpretations Committee at a future meeting. Specifically, the IASB considered whether such long-term interests should be tested for impairment by applying IAS 28, IFRS 9 Financial Instruments or a combination of both. The IASB discussed a request from the Interpretations Committee for input on an issue relating to the measurement of long-term interests that, in substance, form part of the net investment in an associate or joint venture in accordance with IAS 28 Investments in Associates and Joint Ventures.

tests the proposals against a number of specific transaction types raised in the comment letters and.In response to requests by IASB members, the staff expect to discuss at a future meeting analysis that: The IASB considered a summary of feedback on the Exposure Draft Classification of Liabilities (Proposed amendments to IAS 1). The IASB plans to issue the final amendments to IFRS 2 in Q1 of 2016.Īgenda Paper 12B: Classification of Liabilities All 13 IASB members present agreed with this decision. In addition, the IASB tentatively decided that the effective date of the amendments should be 1 January 2018 and earlier application should be permitted. No IASB members indicated that they intend to dissent from the publication of the final amendments to IFRS 2. All 13 IASB members present confirmed that they are satisfied that the IASB has completed the necessary due process steps on the project to date and therefore instructed the staff to commence balloting process for the amendments. The IASB reviewed the due process steps that it has taken in developing the narrow-scope amendments to IFRS 2 Share-based Payment on the classification and measurement of share-based payment transactions. The IASB met on 15 December to discuss IFRS implementation issues.Īgenda Paper 12A: IFRS 2 Share-based Payment-Classification and Measurement of Share-based Payment Transactions (Summary of due process followed) IFRS Implementation Issues (Agenda Paper 12) The IASB tentatively decided that information disclosed to meet the disclosure objective should be clearly distinguished from other information that an entity chooses to disclose.ġ2 out of the 13 IASB members agreed with this decision. The IASB discussed a sweep issue arising from the balloting process for the Amendments to IAS 7. Agenda Paper 11B: Amendments to IAS 7-Sweep issues


The IASB noted that the initial phase does not involve a comprehensive review of existing disclosure requirements. the various options the IASB could consider as the next steps, after the initial phase is complete.the content, form and due process of a Drafting Guide for the IASB's internal use and.the scope, approach and timing of the initial phase of the project.The IASB discussed its project to review disclosures at a standards-level with a specific focus on: Agenda Paper 11A: Standards-level Review of Disclosures project-Initial phase proposal The IASB met on 15 December 2015 to discuss the project on the Standards-level Review of Disclosures and the Amendments to IAS 7 Statement of Cash Flows, both of which are part of its Disclosure Initiative. Sale or Contribution of Assets between an Investor and its Associates or Joint Ventures-Deferral of effective date (Agenda Paper 23) To listen to a short Board meeting audio summary (Podcast) of previous Board meetings,
#NOVEMBER 11 2015 FASB UPDATE#
To see upcoming and past IASB meetings, click here.įor archived copies of past issues of IASB Update on the IFRS website, click here. The IASB meets at least once a month for up to five days.
