Accounting Standards Board

At its upcoming meeting, the Group will discuss several topics: IFRS 9 Financial Instruments and IFRS 16 Leases – Distinguishing Between a Lease Modification and an Extinguishment of a Lease Liability; IFRS 18 Presentation and Disclosure in the Financial Statements – Implementation Issues; IFRS 9 – Derecognition of Financial Liabilities Settled Using Electronic Payment Systems; IFRS 8 Operating Segments – Disclosure of Revenue and Expenses for Reportable Segments; and more. Don’t miss out on the latest IFRS news! Register now to observe our meeting via livestream. 

The Committee discussed Contributions, Detailed Review of ASPE, Evaluating the Preface, Financial Statement Concepts, and more.

The Committee held a meeting on July 18, 2024, and discussed the Detailed Review of ASPE, Financial Statement Concepts, and the Preface. Read the meeting notes for full details!

The AcSB discussed Relief from Recognition of Intangible Assets, Amortization of Goodwill, Power Purchase Agreements, the Annual Plan, and more. Read the Decision Summary for full details.

The IASB recently issued a package of narrow-scope amendments to IFRS Accounting Standards as part of its Annual Improvements process. The package includes amendments to five standards: IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 7 Financial Instruments: Disclosures, IFRS 9 Financial Instruments, IFRS 10 Consolidated Financial Statements, and IAS 7 Statement of Cash Flows. The amendments are effective January 1, 2026, with earlier application permitted. The AcSB will review and complete its endorsement process in Q4 2024.

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