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Administrative session

Date recorded:

The Committee deferred further work on two topics given the interrelationship of the topics to two projects currently being discussed by the IASB (the revenue and leasing projects). The deferred Committee topics include:

  • IFRIC 15-2 Agreements for the Construction of Real Estate: Clarification of 'continuous transfer': The submission requests clarification of the meaning and application of the concept of continuous transfer in paragraph 17 of IFRIC 15 in the context of the sale of apartments off plan.
  • IAS 16-5 Property, Plant and Equipment: Contingent pricing of PPE and intangible assets: The submission requests clarification on how to account for contingent pricing for the outright purchase of a single item of PPE or an intangible asset.

 

The Committee had no additional questions or comments for the staff on these items, but expressed a desire to consider the IFRIC 15-2 submission during the November 2011 meeting.