IASB April 2007
19 April 2007
The Board discussed a proposed amendment to IAS 38 on the treatment of costs of advertising and promotional or training activities. The proposal from the IFRIC would amend paragraphs 68–70 of IAS 38 to state that a prepayment may be recognised by an entity only until that entity receives the related goods or services however, for expenditure on advertising and promotional or training activities, an asset may be recognised until such time as the activities first take place.
IASB June 2007
21 June 2007
The Board considered 12 issues for inclusion in the annual improvements process. This process is intended to eliminate inconsistencies between standards and to clarify wording. Proposed amendments to standards resulting from the process will be published in a single exposure draft each year. The first exposure draft will be published in October 2007.
IASB May 2007
15 May 2007
The Board considered six issues for inclusion in the annual improvements process. This process is intended to eliminate inconsistencies between standards and to clarify wording. Proposed amendments to standards resulting from the process will be published in a single exposure draft each year. The first exposure draft will be published in October 2007.
IFRIC January 2007
12 January 2007
At its meeting in November 2006, the IFRIC asked the staff to consider whether paragraph 69 of IAS 38 could be amended to require the costs of advertising and promotional activities to be recognised as an expense when the advertising or promotion was distributed to customers rather than when the expenditures were incurred.
IFRIC March 2007
08 March 2007
The IFRIC continued its discussions about the treatment of advertising and promotional costs in accordance with IAS 38.
IFRIC November 2006
03 November 2006
At its September 2006 meeting, the IFRIC decided to add a project to its agenda addressing advertising and promotional expenditure. The project is to consider at what point an expense should be recognised in the situation where an entity undertakes activities to develop advertising or promotional material before the year-end but does not distribute the material to its customers until after the reporting date.
IFRIC September 2006
08 September 2006
The IFRIC discussed whether to initiate a project to develop guidance on how to account for the costs of developing, designing and printing catalogues and other advertising in the situation in which costs are incurred before the reporting date but the catalogues are not distributed until after the reporting date.