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IFRIC meeting — 5-6 November 2009

Start date:

End date:

Location: London

About meeting notes

IFRIC (International Financial Reporting Interpretations Committee) (blue) The International Financial Reporting Interpretations Committee (IFRIC) met at the IASB's offices in London on Thursday and Friday 5 and 6 November 2009. Among other things, IFRIC reached consensus on a final Interpretation based on Draft Interpretation D25 Extinguishing Financial Liabilities with Equity Instruments and asked the IASB to approve the Interpretation at the Board's November 2009 meeting.

Agenda for the meeting

Thursday 5 November 2009 (10:00-17:30)

Introduction

Active Committee projects

  • IAS 16 Property, Plant and Equipment — Accounting for stripping costs in the production phase
  • IAS 32 Financial Instruments: Presentation — Debt to Equity Swap IFRIC D25 — Comment letter analysis

Review of Tentative Agenda Decisions published in September 2009 IFRIC Update

  • IAS 23 Borrowing Costs — Meaning of 'general borrowings'
  • IFRS 5 Non-current Assets Held for Sale and Discontinued Operations — Write down of a disposal group
  • IFRS 3 Business Combinations — Measurement of NCI
  • IFRS 3 Business Combinations — Un-replaced and voluntarily replaced share-based payment awards

Staff recommendations for Tentative Agenda Decisions

  • IAS 39 Financial Instruments: Recognition and Measurement — Unit of account for forward contracts with volumetric optionality
  • IAS 38 Intangible Assets — Amortisation method
  • IFRS 2 Share-based Payment — Where manner of settlement is contingent on future events
  • IFRS 2 Share-based Payment — Measurements of employee share-based transactions with cash alternatives
  • IAS 27 Consolidated and Separate Financial Statements — Presentation of comparatives when applying the 'pooling of interests' method
  • IAS 27 Consolidated and Separate Financial Statements — Combined financial statements and redefined reporting entities
  • IAS 18 Revenue — Receipt of a dividend of treasury shares
  • IFRS 4 Insurance Contracts and IAS 32 Financial Instruments: Presentation — Scope issue for investments in REITs
  • IAS 32 Financial Instruments: Presentation — 'Fixed for fixed' condition

Friday 6 November 2009 (09:00-11:00)

Active Committee projects

  • IAS 16 Property, Plant and Equipment — Accounting for stripping costs in the production phase (tentative agenda decision)

Administrative session

  • IFRIC work in progress

 

The Deloitte observer notes from this meeting are available here.

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