IFRS Discussion Group
Agenda for October 18, 2012 Meeting

The topics the Accounting Standards Board’s IFRS Discussion Group plans to consider, in addition to routine updates, are outlined below. Although current at the date prepared (September 24, 2012), this agenda is subject to change.

IAS 39: Meaning of “Prolonged” and “Significant” Decline in Fair Value

  • Meaning of a prolonged and significant decline in the fair value of an investment in an equity instrument below its cost when assessing impairment of equity securities.

IFRS 6 and IAS 36: Impairment

  • Practical challenges when assessing impairment of exploration and evaluation assets that are within the scope of IFRS 6.

IAS 1: Going Concern Assessments for Development Stage Entities

  • Challenges involved in the assessment of and disclosures about a development stage entity’s ability to continue as a going concern.

IFRS 10 and 11:  Retrospective Transition Issues

  • Complexities that can arise on transition including:
    • transaction costs and contingent consideration relating to an acquisition that is not a business, such as a mining property; and
    • how certain other IFRSs such as IAS 36, IAS 21 and IAS 23 apply when an entity is consolidated or proportionately consolidated for the first time under the new standards.

IFRS 10 and 11:  Retrospective Transition Issue – Comparative Figures

  • Implications for comparative figures when an entity obtained control over a joint venture in the comparative period.

IFRS 11: Joint Ventures – Transition from Proportionate Consolidation to the Equity Method

  • Implications including borrowing costs, hedging, and impairment.

IFRS 10: De Facto Control

  • Circumstances in which an entity owns less than 50 per cent of the shares of another entity but may have de facto control.

IAS 39: Measurement of an Investment in a Private Company

  • Circumstances in which cost as the ongoing measurement basis is acceptable for an investment in a private company classified as available for sale.

Meeting Details

Staff contact: Kathryn Ingram
Phone no.: +1 (416) 204-3475