Beyond the GAAP - September 2014 issue

After a short summer break, the IASB and the IFRS Interpretations Committee have returned to their work programme.

September saw the publication of the Discussion Paper on rate-regulated activities and the continuation of discussions on the major insurance contracts and conceptual framework projects.

At the same time, the IFRS Interpretations Committee decided how best to document its observations on the application of IFRS 11. These will ultimately be formulated in a series of agenda decisions published in the IFRIC Update. The topics should be discussed at the November meeting with a view to finalisation in March. This should put an end to the discussions on the classification of project entities for IFRS 11.

Highlights

IFRS Standards

Improvements to IFRSs – 2012-2014 Cycle
Discussion Paper on rate-regulated activities
Unit of account and quoted investments
IFRS IC rules on the classification of fair value measurements received from third parties