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IFRS Interpretations Committee — Items not added to the agenda 2007

Start date:

End date:

Location: London


Related Discussions

  • IAS 39 — Definition of a derivative: Indexation on own EBITDA or own revenue

    Jan 11, 2007

    The IFRIC reconsidered its July 2006 tentative agenda decision that explained why it had decided not to issue guidance on whether a contract that is indexed to an entity’s own revenue or own earnings before interest, tax, depreciation and amortisation (EDITDA) is (or might contain) a derivative.

  • IAS 39 — Short trading

    Jan 11, 2007

    The IFRIC received a submission regarding the accounting for short sales of securities when the terms of the short sales require delivery of the securities within the time frame established generally by regulation or convention in the marketplace concerned.

  • IAS 39 — Financial Instruments puttable at an amount other than fair value

    Jan 11, 2007

    The IFRIC received a submission regarding the classification in the financial statements of the holders of financial instruments puttable at the option of the holders at an amount other than fair value (the puttable instruments). The issues considered were: (1) how the puttable instruments should be accounted for in the financial statements of the holders (2) whether an entity that has control over an entity that has no equity instruments in issue is required to present consolidated financial statements.

  • IAS 19 — Special wage tax

    Mar 08, 2007

    The IFRIC was asked to consider whether taxes related to defined benefits, for example taxes payable on contributions to a defined benefit plan or taxes payable on some other measure of the defined benefit, should be treated as part of the defined benefit obligation in accordance with IAS 19 'Employee Benefits'.

  • IAS 36 — Identifying cash-generating units in the retail industry

    Mar 08, 2007

    The IFRIC was asked to develop an Interpretation on whether a cash-generating unit (CGU) could combine more than one individual store location. The submitter developed possible considerations including shared infrastructures, marketing and pricing policies, and human resources.

  • IAS 16 — Sale of assets held for rental

    May 02, 2007

    The IFRIC was asked to provide guidance on the accounting for sales of assets held for rental. Some entities sell assets after renting them out to third parties. In such circumstances, it appears that the asset is manufactured or acquired with a dual intention, to rent it out and to sell it. The issue is whether the sale of such an asset should be presented gross (revenue and costs of sales) or net (gain or loss) in the income statement.

  • IAS 19 — Curtailments and negative past service costs

    May 02, 2007

    The IFRIC was asked whether plan amendments that reduce benefits should be accounted for as curtailments or as negative past service costs. The submission noted that materially divergent practice could result because of the different recognition requirements for curtailments and negative past service cost.

  • IFRS 3 — Reassessments on a business combination

    May 03, 2007

    The IFRIC was asked to provide guidance on whether, and in what circumstances, a business combination triggers reassessment of the acquiree’s classification or designation of assets, liabilities, equity and relationships acquired in a business combination. Reassessment issues include, for instance, whether embedded derivatives should be separated from the host contract, the continuation or de-designation of hedge relationships and the classification of leases as operating or finance leases.

  • IFRS 5 — Plan to sell the controlling interest in a subsidiary

    Jul 11, 2007

    The IFRIC was asked to provide guidance on applying IFRS 5 'Non-current Assets Held for Sale and Discontinued Operations' when an entity is committed to a plan to sell the controlling interest in a subsidiary. The request considered situations in which the entity retained a non-controlling interest in its former subsidiary, taking the form of either an investment in an associate, an investment in a joint venture or a financial asset.

  • IAS 12 — Deferred tax arising from unremitted foreign earnings

    Jul 11, 2007

    The IFRIC was asked to provide guidance on whether entities should recognise a deferred tax liability in respect of temporary differences arising because foreign income is not taxable unless remitted to the entity’s home jurisdiction. The foreign income in question did not arise in a foreign subsidiary, associate or joint venture.

  • IAS 39 — Gaming transactions

    Jul 11, 2007

    The IFRIC considered a submission relating to the accounting for wagers received by a gaming institution.

  • IAS 18 — Guidance on identifying agency relationships

    Sep 05, 2007

    The IFRIC received a request for an interpretation of how IAS 18 'Revenue' paragraph 8 should be applied to situations in which an entity employs another entity to meet the requirements of a customer under a sales contract. The request questioned whether there is a need for more general interpretative guidance in this area.

  • IAS 19 — Benefit allocation for defined benefit plans

    Sep 05, 2007

    The IFRIC had previously considered whether entities should take into account expected increases in salary in determining whether a benefit formula expressed in terms of current salary allocates a materially higher level of benefit in later years.

  • IFRS 5 — Disclosures

    Sep 06, 2007

    The IFRIC received a request to clarify whether the disclosure requirements of other standards, in the absence of specific exclusion, would apply to non-current assets (or disposal groups) classified as held for sale or discontinued operations in accordance with IFRS 5 'Non-current Assets Held for Sale and Discontinued Operations'.

  • IAS 19 — Treatment of employee contributions

    Nov 01, 2007

    The IFRIC received a request to clarify the treatment of employee contributions in accordance with IAS 19. The first issue is how employee contributions should be accounted for in general. The second issue is how to account for a pension plan in which the cost of providing the benefits is shared between the employees and the employer.