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Research project pipeline
Research pipeline projects are projects that the IASB expects to start work on before its next five-yearly agenda consultation. There are three projects in the research pipeline:
- Intangible Assets;
- Statement of Cash Flows and Related Matters; and
- Amortised Cost Measurement.
The IASB’s decision to add these projects to the research pipeline was based on its analysis of feedback on its Third Agenda Consultation and the Post-implementation Review of IFRS 9—Classification and Measurement.
The IASB will first focus on work already under way, as well as any time-sensitive work. This means that the IASB may not make substantial progress on these projects immediately.
Intangible Assets
This project will aim comprehensively to review the accounting requirements for intangible assets. Initial research will seek to identify the scope of the project and how best to stage work on this topic to deliver timely improvements to IFRS Accounting Standards.
For further details, see paragraphs 34–41 in this agenda paper.
Statement of Cash Flows and Related Matters
As part of its initial work on this project, the IASB will consider whether the project should aim comprehensively to review IAS 7 Statement of Cash Flows or make more targeted improvements.
For further details, see paragraphs 42–47 in this agenda paper.
Amortised Cost Measurement
This project will aim to review matters relating to the requirements in IFRS 9 Financial Instruments for amortised cost measurement that have been identified through the Post-implementation Review of IFRS 9—Classification and Measurement. In particular, it will consider modifications of financial assets and liabilities, the application of the effective interest method to floating rate financial instruments and the interaction of these two areas. The project may also consider any additional findings from the Post-implementation Review of IFRS 9—Impairment.
For further details, see Agenda Paper 3C for the July 2022 IASB meeting.
Maintenance project pipeline
Maintenance pipeline include:
- recommendations from the IFRS Interpretations Committee; and
- those identified as part of the IASB's five-yearly agenda consultation.
Maintenance pipeline projects are expected to be narrow in scope.
Sale and Leaseback of an Asset in a Single-Asset Entity (IFRS 10 and IFRS 16)
The IASB will consider whether to add a narrow-scope project to its work plan to specify how an entity accounts for the sale of a subsidiary when the entity leases back one or more of the assets held by the subsidiary. Read more details on the project page.
International Tax Reform—Pillar Two Model Rules (IAS 12)
In May 2023, the IASB issued International Tax Reform—Pillar Two Model Rules, which amended IAS 12 Income Taxes. The amendments introduced:
- a temporary exception to the requirements to recognise and disclose information about deferred tax assets and liabilities related to Pillar Two income taxes; and
- targeted disclosure requirements for affected entities.
The IASB continues to monitor developments related to the implementation of the Pillar Two model rules. It plans to undertake further work to determine whether to remove the temporary exception—or to make it permanent—after there is sufficient clarity about how jurisdictions implemented the rules and the related effects on entities.
International Tax Reform—Pillar Two Model Rules (Amendments to the IFRS for SMEs Standard)
In September 2023, the IASB issued International Tax Reform—Pillar Two Model Rules—Amendments to the IFRS for SMEs Standard. Amendments are based on the amendments to IAS 12 issued in May 2023.
The IASB updates the IFRS for SMEs Accounting Standard through periodic reviews. Amendments issued in September 2023 respond to an urgent matter and are an exception to that process.
The IASB will monitor developments related to the implementation of the Pillar Two model rules to determine when to do further work. Any further work would not necessarily coincide with the next periodic review of the Standard.
Use of a Hyperinflationary Presentation Currency by a Non-hyperinflationary Entity (IAS 21)
The IASB will consider whether to add a narrow-scope project to its work plan to address the translation method applied:
- to the consolidation of a subsidiary, whose functional currency is the currency of a non-hyperinflationary economy, by a parent, whose functional and presentation currency is the currency of a hyperinflationary economy; and
- by an entity whose functional currency is the currency of a non-hyperinflationary economy but that presents its financial statements in a currency of a hyperinflationary economy.
Read more details on the project page.
Update to the Subsidiaries without Public Accountability: Disclosures Standard
The IASB will propose amendments to the prospective IFRS Accounting Standard Subsidiaries without Public Accountability: Disclosures for disclosure requirements issued since development of the Exposure Draft.
Removal of the temporary nature of the exemption in IFRS 6 from the application of paragraphs 11–12 of IAS 8 (IFRS 6)
In September 2023, the IASB agreed to remove, as part of its next volume of Annual Improvements to IFRS Accounting Standards, the temporary nature of the exemption in IFRS 6 Exploration for and Evaluation of Mineral Resources from the application of paragraphs 11–12 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.
Reserve list
In response to the feedback on its Third Agenda Consultation, the IASB decided to create a reserve list of two projects.
Projects on the reserve list will be added to the work plan if, and only if, additional capacity becomes available before the IASB’s next five-yearly agenda consultation. Projects in the research pipeline will be prioritised ahead of those on the reserve list.
There are two projects on the reserve list:
- Operating Segments; and
- Pollutant Pricing Mechanisms.
Operating Segments
A project on operating segments would aim to research:
- the underlying causes of users’ concerns about the granularity of segment information that companies provide; and
- the feasibility (including costs to preparers) of potential solutions that could be implemented without reconsidering whether to use the management approach to determine a company's operating segments.
Pollutant Pricing Mechanisms
The project would aim to develop specific requirements for pollutant pricing mechanisms. Initial research would consider whether the project should aim to address:
- all types of pollutant pricing mechanisms, or only some, such as emission trading schemes; and
- accounting by traders and scheme administrators, or limit the project to companies that are required to (or choose to) participate in such schemes.
