Review of Tentative Agenda decisions published in March 2009 IFRIC Update
IAS 12 Income Taxes — Classification of tonnage taxes
The IFRIC confirmed their decision not to add this issue to the agenda. The IFRIC did not agree with the changes the staff had made to the proposed agenda decision and preferred the original wording of the agenda decision. Some IFRIC members were concerned that adding the additional sentences proposed may confuse the principle. The staff agreed to amend the agenda decision wording to focus only on those taxes that are not income taxes. Subject to receiving the final wording, the IFRIC agreed.
IAS 16 Property, Plant and Equipment — Disclosure of idle assets and construction in progress
The IFRIC agreed to finalise its tentative agenda decision not to add the issue to its agenda.
IAS 38 Intangible Assets — Accounting for selling costs of real estate projects
The IFRIC received four comment letters from respondents; two respondents explicitly supported the IFRIC's decision not to add the issue to its agenda; the other two did not suggest adding it to the agenda. All four suggested changes to the IFRIC's proposed wording. The IFRIC confirmed its decision not to add the issue to its agenda, but agreed that they needed to clarify the wording. Final wording to be circulated to the IFRIC members for approval.
IAS 39 Financial Instruments: Recognition and Measurement — Participation rights and calculation of the effective interest rate
The IFRIC confirmed its decision not to add the issue to its agenda.
IAS 39 Financial Instruments: Recognition and Measurement — Classification of failed loan syndications
The IFRIC confirmed its decision not to add the issue to its agenda.
IAS 41 Agriculture — Discount rate assumptions used in fair value calculations
The IFRIC confirmed its decision not to add the issue to its agenda. Final wording to be circulated to the IFRIC members for final approval.
IFRIC 14 IAS 19 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction — Voluntary prepaid contributions under a minimum funding requirement
The IFRIC confirmed its decision not to add the issue to its agenda.
