Beyond the GAAP no.40 (English) - December 2010

December 2010 saw the publication of the exposure draft on hedge accounting (proposals on macro-hedging will have to wait until 2011). The IASB should, for once, draw on fairly wide support. The proposals do aim to simplify hedge accounting and make it possible to hedge more risks.


  • Tommaso Padoa-Schioppa, President of the IFRS Foundation Trustees, dies
  • Publication of a limited amendment to IFRS 1 for entities preparing IFRS financial statements after a period of severe hyperinflation
  • Limited amendment to IFRS 1: elimination of the fixed application date
  • Publication of a limited amendment to IAS 12

A closer look

  • Standards and interpretations applicable at 31 December 2010
  • IFRS draft on revenue recognition under fire
  • IASB publishes a non-binding framework for management commentary
  • Exposure draft on Hedge Accounting, first instalment of the third phase of the revision of IAS 39