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Proposed IFRIC Interpretation: Transfers of Assets from Customers

Date recorded:

The staff proposed that IFRIC 18 Transfers of Assets from Customers should have an effective date of 1 July 2009 instead 1 May 2009. Because earlier application is permitted, an effective date of 1 July 2009 would prevent entities from using hindsight to determine fair values. Staff also proposed to include words that would require that transfers of assets from customers be measured using information that existed and was known at the time the transfers have occurred.

The Board agreed.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.