PPT-IASB

Leases Project Overview Identify a lease Lessee how big the liability will be Lessor accounting what has changed Other lease accounting issues Transition provisions What do you need to do to get ready for 2019. October 2013 view p oint of Lease accounting Highlights Many companies enter into lease transactions, as they allow for the use of property and equipment with payments made over time. The Boards
• The FASB and the IASB tentatively decided to add a new exception to their model for lessor accounting. • L eases of investment property held by lessors that do not meet the investme IASB /FASB Meeting November 2009 IASB agenda reference 6C FASB memo reference 123C Contact(s) kbbement@fasb.org +1 (203) 956 - 5233 Henry Rees hrees@iasb.org +44 20 7246 6466 Project Revenue Recogniti The - setting body of the IFRS Foundation . The IFRS Foundation is a not - for - profit corporation under the General Corporation Law of the State of Delaware, United States of America Registered Project Topic Revaluation of right-of-use assets This paper has been prepared by the technical staff of the FAF and the IASCF for discussion at a public meeting of the FASB or the IASB. Purpose o consolidation exception for investment entities Issue The IASB ha s published an exposure draft (‘ED’) of amendments to IFRS 10 and IAS 28 following discussions on the application of 16C STAFF PAPER 20 September – 28 September REG IASB Meeting Project Insurance Contract Paper topic Residual Margin – Rate of accretion of interest CONTACT(S) Giel Pieterse gpieterse@ for insurance contracts Overview During its February meeting, the International Accounting Standards Board (IASB, or Board) continued redeliberations on its 2013 Exposure Draft Insurance Contracts 1 Heads Up IASB defers the Revenue from Contracts with Customers Contents Background IASB decision What should e ntities be doing? “ In summary ”  T he International Accoun CHARTERTHE IASB AND OTHER ACCOUNTING STANDARDSETTERS BACKGROUND Accoun ng standard-se ers 4Interna onal and regional groups and networks 5IASB consulta ve bodies 5THE CHARTER Overarching principles ey.com/IFRS Issue 91 / Sept ember 2014 IFRS IASB concludes the 2012 - 2014 What you need to know  In September 2014, the IASB issued Annual Improvements to IFRSs 2012 - 2014 Cycle , whi Intermediate Accounting. IFRS 2nd . Edition. Kieso, Weygandt, and Warfield. . 1. Describe . the growing importance of global . financial markets . and its relation to financial . reporting.. Identify . Identify a lease. Lessee: how big the liability will be?. Lessor accounting: what has changed?. Other lease accounting issues. Transition provisions. What do you need to do to get ready for 2019?. Agenda. Chapter 6. Developing IFRS Standards. IFRS Foundation. Oversees IASB.. Independent body 22 trustees.. Mix of trustees reflects geographical spread of world’s capital markets.. Raises funds for standard setting process..