Beyond the GAAP - February 2014 issue

The IASB published an update of its work plan on 25 February. According to this document, March 2014 should see the publication of the Discussion Paper on macro hedging and the draft amendment to IAS 1 resulting from the Disclosure Initiative. These two publications are eagerly awaited by stakeholders. Let us hope that they are not a disappointment!

In other news, nearly three years after publication of IFRS 13, and following its first mandatory application in 2013, the IFRS Foundation and the International Valuation Standards Council (IVSC) have announced the signature of a protocol for cooperation on standards and guidance for fair value measurement. This protocol, signed by Sir David Tweedie as president of the IVSC, may help to erase the differences between the two sets of standards which were highlighted when IFRS 13 was published.

 

Highlights

IFRS Standards

 

  • IFRS IC examines the liability/equity classification of instruments mandatorily convertible into shares
  • IAS 12: the IFRS IC tentatively concludes on recognition and measurement of deferred tax assets when an entity is loss-making
  • Financial instruments: IASB is in the process of finalising phases 1 and 2 of IFRS 9 and sets 1 January 2018 as the mandatory effective date 
  • Accounting for an interest in a joint operation structured through a separate vehicle in separate financial statements
  • IASB considers IFRS IC recommendations on IFRS 2
  • IFRS Foundation and IVSC launch cooperation

 

A closer look

  • The IFRS Interpretations Committee clarifies IFRS 11 provisions on the classification of joint arrangements 
  • IASB launches Post-implementation Review of IFRS 3 Business combinations

文件

Beyond the GAAP, February 2014 issue

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