Beyond the GAAP no.52 (English) - January 2012

It is already clear that 2012 will be a crucial year for the IASB. During the course of this year, the final texts of the joint projects on financial instruments, revenue recognition, leases and insurance contracts should all be published. Much is thus expected of the IASB.

Nevertheless, the new year has not started in top gear. January has been relatively quiet, and few important decisions have been taken at the Board’s meetings. Only discussions in the IFRS Interpretations Committee (formerly IFRIC) on the accounting treatment of changes in the obligation due to sale options granted to non-controlling interests have shaken us out of the torpor of this severe winter.

Enjoy your reading!


  • New translations
  • Three IASB members reappointed
  • Leases: the two boards take a break
  • Standards on consolidation: the IASB will not defer the effective date
  • Early retirement programmes
  • Reopening of Phase 1 of IFRS 9: Classification and measurement
  • Impairment of financial assets – proposal of a specific treatment for assets purchased with an explicit expectation of credit losses at the acquisition date
  • EFRAG publishes its draft endorsement advice(s) on the new standards on consolidation
  • EFRAG publishes a Discussion Paper on Business Combinations under Common Control
  • EFRAG publishes a Discussion Paper on accounting for corporate income taxes

A closer look

  • Puts on non-controlling interests (NCI): the Committee recommends recognition of changes in P&L


Beyond the GAAP n°52 January 12
Beyond the GAAP n°52 January 12