Beyond the GAAP - March 2013 issue
Beyond the GAAP - March 2013 issue
Aside from this news, March has been a relatively quiet month – but this will be more than made up for by the action-packed months to come. The upcoming quarter will see the publication of major standards and drafts on leases, revenue recognition and insurance contracts. This is the calm before the storm!
Highlights
IFRS Standards
- IASB work plan
- Conceptual framework
- Draft limited amendment to IAS 19 – Defined Benefit Plans: Employee Contributions
- Revenue recognition: IASB finally decides to permit early application
- Puts on non-controlling interests: a light at the end of the tunnel
- Membership of ASAF
- Impairment (Phase II of IFRS 9) – IASB publishes new exposure draft
- Rate-regulated activities