This IASB Update is a staff summary of the tentative decisions reached by the Board at a public meeting. As a project progresses, the Board can, and sometimes does, modify its earlier tentative decisions. Tentative decisions do not change existing requirements until those decisions are incorporated in a new or amended standard.
The IASB met in a public meeting from Tuesday 17 May to Thursday 19 May 2011. Most sessions were held jointly with the FASB. Two IASB Board members were able to attend some, but not all, of the sessions. The main focus of the meeting was the four remaining Memorandum of Understanding projects: financial instruments, revenue recognition, leasing and insurance contracts.
See full Update.
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