A summary of the expected timing under the revised work plan is provided below (all pronouncements are finalised standards, unless otherwise noted):
Pronouncements expected by the end of calendar 2010
- hedge accounting (exposure draft);
- amendments to IAS 12 Income Taxes – deferred tax on certain revalued assets;
- amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards – hyperinflation and removal of fixed dates; and
- management commentary (IFRS Practice Statement).
Pronouncements expected in the first quarter of 2011
- financial instruments – impairment and asset/liability offsetting (exposure drafts);
- consolidation, including joint arrangements and disclosure about unconsolidated entities;
- financial statement presentation – other comprehensive income;
- fair value measurement; and
- post-employment benefits.
Pronouncements expected in the second quarter of 2011
- financial instruments – impairment, hedge accounting, asset/liability offsetting,
- leases;
- revenue recognition;
- insurance contracts;
- consolidation of investment companies (exposure draft, standard expected by end of 2011); and
- annual improvements including discontinued operations (exposure draft).
Projects deferred to after June 2011
- joint projects deferred as noted in the progress report - financial statement presentation (comprehensive project), financial statements with characteristics of equity, emissions trading schemes, conceptual framework (reporting entity); and
- other projects - liabilities (replacement for IAS 37), income taxes, rate-regulated activities, extractive activities, common control, earnings per share, government grants and intangible assets.
Press release
© IASB - International Accounting Standards Board
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article