International Accounting Standards Board: Developments in IFRS

Michael Stewart, Leo Piombino, Denise Durant, Won-Hee Han and Koichiro Kuramochi give an overview of some of the issues discussed at the January 2014 IFRS Interpretations Committee meeting, including IAS 12 Income Taxes—Threshold of recognition of an asset on uncertain tax position, IAS 1 Presentation of Financial Statements—Issues related to the application of IAS 1, IFRS 11 Joint Arrangements—Classification of joint arrangements, IFRS 10 Consolidated Financial Statements—An investment entity subsidiary that also provides investment-related services.