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IFRS Interpretations Committee meeting — 15-16 May 2012

Start date:

End date:

Location: London

About meeting notes

Agenda for the meeting

Tuesday, 15 May 2012 (10:00-15:30)

Introduction

Active Committee projects

  • IAS 32 Financial Instruments: Presentation — Put options written on non-controlling interests
  • IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets — Contingent pricing of PPE and intangible assets
  • IFRIC 12 Service Concession Arrangements — Payments made by an operator in a service concession arrangement
  • 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 operating in a specific market – Draft Interpretation

New items for initial consideration

  • IAS 39 Financial Instruments: Recognition and Measurement — Accounting for different aspects of restructuring Greek Government Bonds

Items for continuing consideration

  • IAS 12 Income Taxes — Recognition of deferred tax for a single asset in a corporate entity
  • IAS 16 Property, Plant and Equipment, IAS 38 Intangible Assets and IAS 17 Leases — Purchase of right to use land
  • IFRIC 15 Agreements for the Construction of Real Estate — Clarification of meaning of continuous transfer

Post-implementation reviews

  • IFRS 8 Operating Segments — Identification of issues for investigation

Administrative session

  • Committee work in progress — Effectiveness review

Wednesday, 16 May 2012 (09:00-13:00)

New items for initial consideration (continued)

  • IFRS 3 Business Combinations — Continuing employment
  • IFRS 1 First-time Adoption of International Financial Reporting Standards — Meaning of effective IFRSs
  • IAS 41 Agriculture and IFRS 13 Fair Value Measurement — Valuation of biological assets using a residual method
  • IAS 19 Employee Benefits — Accounting for contribution based promises
  • IAS 18 Revenue, IAS 37 Provisions, Contingent Liabilities and Contingent Assets, and IAS 39 Financial Instruments: Recognition and Measurement — Regulatory assets and liabilities

Active Committee projects (continued from 15 May)

  • IAS 32 Financial Instruments: Presentation — Put options written on non-controlling interests*
  • 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 operating in a specific market – Draft Interpretation*

* Deloitte observer notes from these sessions are included with the notes from the discussion of these topics on the Tuesday.

The agenda papers for this meeting can be accessed on the IASB's website.