IASB update

24 March 2004

The International Accounting Standards Board published its latest update of agreed decisions taken by the board. The IASB issues the ‘IASB Update’ after each IASB meeting.

Items discussed by the Board include:

IAS 39 Financial instruments: Recognition and Measurement: the fair value option:
In February the Board tentatively decided to propose an amendment to IAS 39 to limit the application of the fair value.

Fair value hedge accounting for a portfolio hedge of interest rate risk:
The Board discussed three sweep issues that had arisen from comments on the pre-ballot draft.

Discussion paper on accounting and financial reporting by small and medium-sized entities:
The Board discussed the first draft of a Discussion Paper setting out the Board’s preliminary and tentative views on the approach to the project developing accounting standards for SMEs. The paper is meant to be issued in April.

IASB update March

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