International Accounting Standards Board: Developments in IFRS

Michael Stewart, Martin Friedhoff and Patrick Le Flao give an overview of the issues discussed in the July 2012 IFRS Interpretations Committee meeting, including IFRS 10 Consolidated Financial Statements, IAS 28 Investments in Associates and Joint Ventures—Accounting for the loss of control of a group of assets or a subsidiary between an investor and its associate or joint venture, IAS 39 Financial Instruments: Recognition and Measurement—Scope of paragraph AG5 and IAS 7 Statement of Cash Flows—Examples illustrating the classification of cash flows.