Notes from the January 2010 IFRIC meeting
09 Jan 2010
The International Financial Reporting Interpretations Committee (IFRIC) met at the IASB's offices in London on Thursday and Friday 7 and 8 January 2010. We have posted preliminary and unofficial notes taken by Deloitte observers at the meeting.
The topics discussed were as follows (click through to access detailed Deloitte observer notes for each topic):
THURSDAY 7 JANUARY 2010 (10:00-18:15)
Introduction
Active Committee projects
- IAS 16 – Accounting for production phase stripping costs in the mining industry
- IFRS 2 – Vesting and non-vesting conditions
Review of tentative agenda decisions published in November 2009 IFRIC Update
- IAS 38 – Amortisation method
- IFRS 2 – Contingent manner of settlement
- IAS 27 – Presentation of comparatives when applying the 'pooling of interests' method
- IAS 27 – Combined financial statements and redefined reporting entities
- IAS 18 – Receipt of a dividend of treasury shares
- IFRS 4 and IAS 32 – Scope issue for investments in REITs
- IAS 32 – 'Fixed for fixed' condition
Annual improvements – Deliberation of comments received
- IFRS 1 – Revaluation basis as deemed cost
- IAS 27 – Impairment of investments in subsidiaries, jointly controlled entities and associates in the separate financial statements of the investor
- IFRS 3 – Measurement of non-controlling interests
- IFRS 3 – Transition requirements for contingent consideration from a business combination that occurred before the effective date of the revised IFRS
- IFRS 7 – Disclosures about the nature and extent of risks arising from financial instruments
- IAS 28 – Partial use of fair value for measurement of associates
- IAS 34 – Significant events and transactions
- Remaining issues from August 2008 Annual Improvements ED
FRIDAY 8 JANUARY 2010 (09:00-12:30)
Staff recommendations for tentative agenda decisions
- IFRS 8 and IAS 36 – Transition provisions for IFRS 8 amendment
- IAS 21 – Determination of functional currency of investment holding company
- IAS 32 – Debt/equity classification of instruments with obligation to deliver cash at the discretion of shareholders
- IFRS 1 – Accounting for costs included in self-constructed assets on transition
- IAS 39 – Unit of account for forward contracts with volumetric optionality
Click to go to the preliminary and unofficial notes taken by Deloitte observers for the entire meeting.