Technical Update on IFRS

Course Content:

Introduction
The IASB
Status report on current pronouncements

New Standards

IFRS 9: Financial instruments – Classification and measurement of assets
IFRS for SMEs

Revised Standards

IFRS 1: First time adoption of IFRS 2
IFRS 2: Share based payments
IFRS 3: Business combinations
IAS 24: Related party disclosures
IAS 27: Consolidated and separate financial statements
IAS 32: Classification of rights issues
IAS 39: Amendment to eligible hedged items

New or Amended IFRICs

IFRIC 17: Distribution of non-cash assets to owners
IFRIC 18: Transfers of assets from customers
IFRIC 19: Extinguishing financial liabilities with equity instruments
Amendments to IFRIC 14: IAS 19 – Limit on a defined benefit asset, minimum funding requirements and their interaction

Improvements to IFRS

Improvements to IFRS 2009
ED/2009/11: Improvements to IFRS 2010

Exposure Drafts

Financial crisis related projects
- ED 10: Consolidated Financial Statements
- ED/2009/3: De-recognition – Proposed Amendments to IAS 39 and IFRS 7
- ED/2009/5 Fair Value Measurement
- ED/2009/12 Financial Instruments – Amortised Cost and Impairment
Memorandum of understanding projects
- Conceptual Framework
- ED/2009/02: Income Tax
- ED 9: Joint Arrangements
Other projects
- Discontinued Operations – Proposed Amendments to IFRS 5
- ED/2009/6: Management Commentary
- Non Financial Liabilities – Amendments to IAS 37 and IAS 19
- ED/2010/1: Measurement of Liabilities in IAS 37
- Simplifying EPS – Amendments to IAS 33
- ED/2009/10: Post Employment Benefits – Discount Rate
- ED/2009/8: Rate Regulated Activities
- ED/2009/11: Improvements to IFR