This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.

IFRS Interpretations Committee meeting – 13-14 March 2012

Start date:

End date:

Location: London

About meeting notes

Agenda for the meeting

Tuesday 13 March 2012 (10:00-17:45)


    Active Committee projects

    • IAS 37 Provisions, Contingent Liabilities and Contingent Assets and IFRIC 6 Liabilities arising from Participating in a Specific Market—Waste Electrical and Electronic Equipment — Levies charged for participation in a specific market – date of recognition of liability

    Items for continuing consideration

    • IFRIC 12 Service Concession Arrangements — Payments made by an operator in a service concession arrangement
    • IFRS 11 Joint Arrangements — Acquisition of interest in joint operation
    • IAS 28 Investments in Associates — Application of the equity method when an associate's equity changes outside of comprehensive income
    • IAS 16 Property, Plant and Equipment — Revenue-based depreciation method
    • IAS 7 Statement of Cash Flows — Review of requests in relation to IAS 7

    Wednesday 14 March 2012 (09:00-14:15)

    New items for initial consideration

    • IAS 1 Presentation of Financial Statements and IAS 12 Income Taxes — Presentation of payments of non-income taxes
    • IAS 12 Income Taxes — Accounting for market value uplifts on assets that are to be introduced by a new tax regime
    • IAS 16 Property, Plant and Equipment, IAS 38 Intangible Assets and IAS 17 Leases — Purchase of a right to use land
    • IAS 39 Financial Instruments: Recognition and Measurement and IFRS 9 Financial Instruments — Term-extending options in fixed rate debt instruments
    • IAS 27 Consolidated and Separate Financial Statements and SIC 13 Jointly Controlled Entities – Non-Monetary Contributions by Venturers — Definition of the term 'non-monetary asset'

    Administrative session

    • Committee work in progress
    • Committee statistics
    • Proposals for revisions to the agenda criteria

Related Discussions

  • IFRS 11 — Acquisition of an interest in a joint operation

    Mar 13, 2012

    The IFRS Interpretations Committee discussed their proposed IFRS 11 amendment wording, specifically, they applied a ' general reference approach' to provide a general reference to the principles of business combination accounting and related disclosure requirements in IFRS 3 and other IFRSs.

  • IAS 16 and IAS 38 — Revenue-based depreciation method

    Mar 13, 2012

    The IFRS Interpretations Committee discussed the proposed amendment to IAS 38 and IAS 16 as part of the annual improvements project (2011-2013 cycle) which noted that a revenue-based method is not considered to be an appropriate method of amortisation.

  • IAS 16, IAS 38 and IAS 17 — Purchase of right to use land

    Mar 14, 2012

    The IFRS Interpretations Committee discussed a request from Indonesia to clarify whether the purchase of a right to land should be accounted for as a purchase of property, plant and equipment, a purchase of an intangible asset or as a lease of land.

  • IAS 27 and SIC-13 — Definition of the term 'non-monetary asset'

    Mar 14, 2012

    The IFRS Interpretations Committee discussed a request for clarification on whether a business meets the definition of a ‘non-monetary asset´, specifically whether the requirements of SIC-13 and IAS 28 apply when a business is contributed to either a jointly controlled entity (JCE) under IAS 31, a joint venture (JV) under IFRS 11 or to an associate in exchange for an equity stake in the entity.

  • Administrative session

    Mar 14, 2012

    The IFRS Interpretations Committee held an administrative session, discussing the Trustees´ review of the efficiency and effectiveness of the Committee (including the proposed new agenda criteria) and Committee work in progress.