Við ræðum fyrsta atriðið í skýrslunni á morgun.

In Icelandic, the present tense is very often used for future events when the time is clear from context.

So Við ræðum ... á morgun literally uses present tense, but it naturally means We will discuss ... tomorrow.

This is very similar to English sentences like:

• We leave tomorrow
• I see her next week

The time expression á morgun makes the future meaning clear, so no special future tense is needed.

Við means we.

It is the subject pronoun of the sentence, so it tells you who is doing the action:

• Við = we
• ræðum = discuss / are discussing / will discuss

Together, Við ræðum means We discuss or, in this context, We will discuss.

Ræðum comes from the verb ræða, which means to discuss.

Here, ræðum is:

• 1st person plural
• present tense

So:

• ég ræði = I discuss
• við ræðum = we discuss

Because Icelandic verbs change depending on the subject, the ending -um here tells you it goes with við.

Because atriðið is definite: it means the item / the point, not just an item / a point.

• atriði = item, point
• atriðið = the item, the point

The -ið at the end is the definite article attached to the noun. Icelandic usually puts the at the end of the noun instead of using a separate word like English does.

So:

• fyrsta atriði = first item / a first item
• fyrsta atriðið = the first item

Fyrsta is the adjective first, and its form depends on the noun it describes.

Here it describes atriðið, which is:

• neuter
• singular
• definite

After a definite noun, Icelandic adjectives usually take the weak declension, and for neuter singular the form is fyrsta.

So fyrsta atriðið means the first item.

This is a very common pattern in Icelandic:

• góður dagur = a good day
• góði dagurinn = the good day

In your sentence:

• fyrsta atriðið = the first item / the first point

It is the direct object of ræðum, so learners often ask whether it is in the accusative.

The verb ræða normally takes an accusative object, so yes, this phrase functions as an accusative object.

However, with neuter singular nouns like atriði, the nominative and accusative often look the same, so the form atriðið does not visibly change.

That means:

• the grammar says it is the object of the verb
• but the form happens to look the same as the nominative

Í skýrslunni means in the report.

Breakdown:

• skýrsla = report
• skýrslunni = the report, in the dative singular form
• í = in

The preposition í can take two different cases:

• accusative for motion into something
• dative for being in something / location

Here there is no movement. It means the item is in the report, so Icelandic uses the dative:

• í skýrslunni = in the report

Compare:

• í skýrslunni = in the report
• í skýrsluna = into the report

Because Icelandic nouns change form for case and definiteness.

The basic noun is:

• skýrsla = report

In this sentence, after í with a location meaning, it must be dative singular definite:

• skýrslu = dative singular
• skýrslunni = dative singular definite, the report

The ending -nni is part of the definite form here.

So í skýrslunni literally means something like in-the-report, all in one word.

Atriði can mean item, point, matter, or issue, depending on context.

In a sentence about a report, fyrsta atriðið í skýrslunni most naturally means something like:

• the first item in the report
• the first point in the report

So although item may be the most literal translation, point may sound more natural in some English contexts.

Yes, á morgun is the normal expression for tomorrow.

Even though morgun is related to morning, the phrase á morgun is best learned as a whole expression meaning tomorrow.

So:

• í dag = today
• á morgun = tomorrow
• í gær = yesterday

It is very common and idiomatic.

That is a very natural word order in Icelandic. Time expressions often come later in the sentence, especially after the main object and other complements.

So:

• Við ræðum fyrsta atriðið í skýrslunni á morgun.

is completely normal.

But Icelandic word order is fairly flexible, and you could move á morgun earlier for emphasis, for example:

• Á morgun ræðum við fyrsta atriðið í skýrslunni.

That version puts more focus on tomorrow.

Not naturally in English. In Icelandic, the present tense can cover both present and future, but in English the best translation here is usually:

• We will discuss the first item in the report tomorrow.

or sometimes:

• We discuss the first item in the report tomorrow.

The English progressive are discussing usually sounds like something happening right now or already in progress, so it is not the best match here.

Yes: Icelandic marks definiteness directly on the noun.

You can see that in two places:

• atriðið = the item
• skýrslunni = the report

English uses a separate word, the, but Icelandic often adds the article as a suffix.

So the sentence contains two definite nouns:

• fyrsta atriðið = the first item
• í skýrslunni = in the report

That is one of the most important structural differences between Icelandic and English.