IFRS update: Q4 2010

  • Print
  • Connect
  • Email
  • Facebook
  • Twitter
  • LinkedIn
  • Google+
By William C. Hines, Henny Verheugen | 01 January 2011

Now that the comment periods in the IASB/ FASB joint insurance project have ended, the boards will re-deliberate on several issues and aim to complete the project by mid-2011. Although convergence on an accounting standard for insurance contracts is under way, several issues are still outstanding, including volatility of income, treatment of acquisition expenses, presentation of income, and whether the measurement standard will include one or two margins.