October 2010 IASB meetings – highlight on financial instrument project

28 October 2010

October IASB meetings were focused on the financial instruments project, discussing impairment, hedge accounting, the fair value measurement and removing the financial instruments with characteristics of equity project from IASB´s active agenda.

During October 2010, IASB discussed projects progressing towards the issue of a new/revised Standard or other pronouncement (Presentation of items of Other Comprehensive Income, Financial instruments: Replacement of IAS 39 Financial Instruments: Impairment, Fair Value Measurement, Post-employment benefits, Amendments to IFRS 7 Financial Instruments: Disclosures, Financial instruments: fair value option for liabilities) and projects that progress towards the issue of an exposure draft (Financial instruments with characteristics of equity, Financial instruments: Hedge accounting, Asset and liability offsetting, Extractive activities, Annual Improvements 2009-2011 cycle, Emission trading schemes). Annual Improvements Annual2009-2011 relate to IFRS 1 First-time Adoption of IFRSs – Repeat application of IFRS 1, IFRS 3 Business Combinations – Regrouping and consistency of contingent consideration guidance, IAS 24 Related Party Disclosures – Key management personnel, IAS 40 – Transfers from Investment Property, Annual improvements – criteria, and Other issues e.g. IAS 1: Encouraged versus required disclosures and IAS 21: Repayments of investments and foreign currency translation reserves.

IASB meeting 5 October 2010
IASB meeting 19 - 22 October 2010

© IASB - International Accounting Standards Board