International Accounting Standards Board: Developments in IFRS

Michael Stewart, Ken Yoshimura and Kazu Sakaguchi give an overview of some of the issues discussed at the September 2012 IFRS Interpretations Committee meeting, including IAS 19 Employee Benefits—Accounting for contribution-based promises—Reconsideration of Draft Interpretation D9 Employee Benefit Plans with a Promised Return on Contributions or Notional Contributions, IAS 39 Financial Instruments: Recognition and Measurement Income and expenses arising on financial instruments with a negative yield—Presentation in the statement of comprehensive income, IAS 19 Employee Benefits—Measurement of the net defined benefit obligation (DBO) for post-employment benefit plans with employee contributions and IAS 40 Investment Property—Accounting for a structure that appears to lack the physical characteristics of a building.

Classification and Measurement of Financial Instruments, Impairment, Insurance Contracts, Investment Entities, Leases and Revenue Recognition

Michael Stewart, Martin Friedhoff and Patrick Le Flao give an overview of the issues discussed in the July 2012 IFRS Interpretations Committee meeting, including IFRS 10 Consolidated Financial Statements, IAS 28 Investments in Associates and Joint Ventures—Accounting for the loss of control of a group of assets or a subsidiary between an investor and its associate or joint venture, IAS 39 Financial Instruments: Recognition and Measurement—Scope of paragraph AG5 and IAS 7 Statement of Cash Flows—Examples illustrating the classification of cash flows.

Leases, Classification and Measurement of Financial Instruments, Insurance, investment Entities, reviews of IFRS 8: Operating Segments, and IFRS for SMEs

Michael Stewart, Martin Friedhoff, Patrick Le Flao and Liz Figgie give an overview of the issues discussed in the May 2012 IFRS Interpretations Committee meeting, including IAS 39 Financial Instruments: Recognition and Measurement—Accounting for different aspects of restructuring Greek Government Bonds, IAS 37 Provisions, Contingent Liabilities and Contingent Assets—Determining when to recognise a liability for levies and IAS 32 Financial Instruments: Presentation—Put options written over non-controlling interests.

Classification and Measurement of Financial Instruments, Impairment, Insurance Contracts, Investment Entities, Agenda Consultation, Leases and Revenue Recognition

Financial Instruments and Insurance Contracts

Insurance, Macro Hedge Accounting, post-implementation reviews, effective dates, and review of efficiency and effectiveness of the IFRS Interpretations Committee

Michael Stewart, Gary Berchowitz and Denise Durant give an overview of the issues discussed in the March 2012 IFRS Interpretations Committee meeting, including IAS 37 Provisions, Contingent Liabilities and Contingent Assets—Determining when to recognise a liability for levies, IFRIC 12 Service Concession Arrangements—How to account for contractual payments made by operator under service concession arrangement, IAS 1 Presentation of Financial Statements—Presentation of expense for non-income taxes, IAS 12 Income Taxes—Accounting for the tax effects of market value uplifts allowed by new tax legislation for tax depreciation purposes, IAS 16 Property, Plant and Equipment/IAS 38 Intangible Assets—Revenue-based depreciation and amortisation, IFRS 11 Joint Arrangements—Purchase of an interest in a joint operation that contains a business, IAS 7 Statement of Cash Flows—Cash flow classification.

Impairment of Financial Assets, Insurance Contracts, Classification and Measurement of Financial Instruments, and Leases

IFRS 9 Impairment, Classification and Measurement, Macro Hedge Accounting, Insurance Contracts, Agenda Consultation, and effective dates

Michael Stewart, Gary Berchowitz and Patrick Le Flao give an overview of the issues discussed in the January 2012 IFRS Interpretations Committee meeting, including IAS 37 Provisions, Contingent Liabilities and Contingent Assets—Determining when to recognise a liability for levies, IAS 28 Investments in Associates and Joint Ventures—Accounting for associate’s changes in equity, IAS 32 Financial Instruments: Presentation—Accounting for put options written over shares held by non-controlling interests, IAS 2 Inventories—Long-term prepayments for inventory supply contracts and Annual Improvements—Deliberation of comments received on exposure draft.

IFRS 9 Impairment, Classification and Measurement, Leases, and Insurance Contracts

IFRS 9, Insurance, Leases, Macro Hedge Accounting, Offsetting, and Annual improvements

Michael Stewart and Gary Berchowitz give an overview of the issues discussed in the November 2011 IFRS Interpretations Committee meeting, including IAS 37 Provisions, Contingent Liabilities and Contingent Assets—Determining when to recognise a liability for levies, IAS 19 Employee Benefits—Applying the definition of termination benefits, IAS 38 Intangible Assets and IFRIC 12 Service Concession Arrangements—Selection of amortisation method, IFRIC 15 Agreements for the Construction of Real Estate—Clarification of the meaning of continuous transfer and IFRIC 12—Payments made by the operator in a service concession arrangement.

Financial Instruments, Revenue Recognition, Leases, and Insurance

Financial Instruments, Leases, and Insurance

Wayne Upton and Michael Stewart give an overview of the issues discussed during the September 2011 IFRS Interpretations Committee meeting, including IAS 37 Provisions, Contingent Liabilities and Contingent Assets—Determining when to recognise a liability for levies, IAS 12 Income Tax—Applying the rebuttable presumption to determine the manner of recovery of investment property, IFRS 10 Consolidated Financial Statements—Transitional requirements, meaning of 'the date of initial application', IFRS 3 Business Combinations—Definition of a business and IFRS 11 Joint Arrangements—Acquisition of an Interest in a Joint Operation.

Effective date of IFRS 9, Hedge Accounting, eg risk components and disclosures