IFRS Interpretations Committee meeting — 12–13 March 2013

Start date:

End date:

Location: London

IFRS IC meeting (blue)

The IFRS Interpretations Committee held its regular meeting in London on 12-13 March 2013. Discussions included a review of tentative agenda decisions, further analysis of IAS 7, active projects on IAS 36/IAS 38/IFRIC 12, due process documents, annual improvements, and discussions on work in progress concerning IAS 19 and IFRS 2 and new issues concerning IFRS 5 and IFRS 10.

Agenda for the meeting


Tuesday, 12 March 2013 (10:00-17:15)

Introduction

Review of Tentative Agenda Decisions published in November IFRIC Update

  • IAS 41 Agriculture and IFRS 13 Fair Value Measurement — Valuation of biological assets using a residual method
  • IFRS 3 Business Combinations — Accounting for reverse acquisition transations where the acquiree is not a business

IFRS IC/ IASB requests for further analysis

  • IAS 7 Statement of Cash Flows — Review of definitions of operating, financing and investing

    Active Committee projects

    • IAS 16 Property, Plant and Equipment, IAS 38 Intangible Assets, and IFRIC 12 Service Concession Arrangements — Variable payments for the separate acquisition of PPE and intangible assets

    Due process documents

    • IAS 37 Provisions, Contingent Liabilities and Contingent Assets and IFRIC 6 Liabilities arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment — IFRIC Interpretation X Levies

    Annual improvements

    • Cover note
    • IFRS 3 — Accounting for contingent consideration in a business combination
    • IAS 7 — Interest paid that is capitalised

      IFRS 3 Business Combinations

      • Mandatory purchase of NCI in BC obtaining control of listed entity

      Work in progress

      • IAS 19 Employee Benefits — Determination of discount rate

      IFRS 2 Share-based payment

      • Cover
      • Share-based payment awards settled net of tax withholdings
      • Modification of a share-based payment transaction from cash-settled to equity-settled

      New items for initial consideration

      • IFRS 5 Non-current Assets Held for Sale and Discontinued Operations — Classification in conjunction with a planned IPO and change on disposal method
      • IFRS 10 Consolidated Financial Statements — Protective rights and continuous assessment of control under IFRS 10

       

        Wednesday, 13 March 2013 (09:00-11:20)

        New items for initial consideration

        • IAS 28 Investments in Associates and Joint Ventures — Elimination of intercompany profits between an issuer and its joint venture
        • IAS 19 Employee Benefits — Post vs Pre-tax discount rate
        • IFRS 7 Financial Instruments: Disclosures — Applicability of the amendments to IFRS 7 Financial Instruments: Disclosures, on offsetting financial assets and financial liabilities to condensed interim financial statements

        Administrative session

        • Committee work in progress
        • Review of Interpretations Committee work in 2012

             

            Agenda papers from this meeting are available on the IASB's website.

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