Beyond the GAAP no.59 - September 2012

Following the summer break, it’s back to school for the IASB, with even more new projects. Its work plan now includes three new limited amendments projects and three new research projects. Notably, the Board has decided to publish a revised exposure draft on phase II of IFRS 4: Insurance contracts.

Another significant event this autumn is the publication of a review draft on the general hedge accounting model (micro-hedging), after four years of work by the IASB. The review makes some big changes from the current IAS 39, in line with the amount of time taken to get there!



  • IASB updates work plan
  • IFRS 4 Phase II – Towards a new exposure draft
  • IASB proposes amendment to accounting treatment of other changes in an investor’s interest in an associate’s equity under IAS 28
  • Leases: impairment of right-of-use asset. What are the accounting consequences under the SLE approach?
  • Leases: sale and leaseback transactions

A closer look:

  • Revision of hedge accounting under IFRS: review draft published on general hedge accounting
  • Ongoing joint redeliberations on Revenue Recognition
  • Impact of latest amendment to IFRS 7 on 30 June 2012 financial statements


Beyond the gaap n.59 september 2012
Beyond the gaap n.59 september 2012