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ARTICLE · 31 DECEMBER 2012

On The Horizon For IFRS - December 17, 2012

Grant Thornton LLP
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IASB issues November 2012 joint IASB / FASB meeting highlights.

United StatesAccounting and Audit
Grant Thornton'S Audit Practice Group
Grant Thornton'S Audit Practice Group
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IASB / FASB joint meeting November 2012

IASB issues November 2012 joint IASB / FASB meeting highlights

Key issues

At the November 2012 joint IASB / FASB meeting the following issues were discussed:

  • Conceptual Framework: The IASB held an education session on the Conceptual Framework project. The IASB also discussed issues associated with the reporting entity chapter. No decisions were made.
  • Due process documents: The IASB members agreed that they complied with the due process requirements to date for the following forthcoming exposure drafts:
    • Accounting for the sale or contribution of assets between an investor and its associate or joint venture (Proposed amendments to IFRS 10, Consolidated Financial Statements and IAS 28, Investments in Associates and Joint Ventures)

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