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13 April 2011

Zusammenfassung des April 2011 EFRAG TEG Treffens


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EFRAG published the edition of EFRAG Update in April 2011 that summarises the discussions held at the recent EFRAG Technical Expert Group meeting.


From 6 to 8 April 2011, EFRAG held its monthly meeting and discussed the following:
 
IASB supplementary document to Exposure Draft Financial Instruments: Impairment
IASB Exposure Draft Revenue from Contracts with Customers
IASB Exposure Draft Leases
IASB Exposure Draft Insurance Contracts
EFRAG Proactive project The Role of the Business Model in Financial Reporting
EFRAG Proactive project Business Combinations under Common Control.

As a highlight of this EFRAG Update is the fact that EFRAG finalised its comment letter to the IASB in response to the supplementary document to the Exposure Draft Financial Instruments: Impairment. The comment letter welcomes the IASB’s and the FASB’s efforts in developing a common approach to accounting for the impairment of financial assets. It also supports the approach based on decoupling of interest income and credit losses. However, EFRAG does not support the proposals in relation to the “floor”, and urges the IASB to clarify the objectives of the revised impairment model and to field test the proposals prior to finalising the standard.

Full paper


© EFRAG - European Financial Reporting Advisory Group


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