Notes from the September IFRS Interpretations Committee meeting
Sep 20, 2012
Deloitte observer notes are now available from the IFRS Interpretations Committee meeting held in London on 18 and 19 September 2012. In its active project on contingent pricing of property, plant and equipment and intangible assets, the Committee discussed several models developed by the staff and the question of how closely a model should be tied to the leases project model that is not yet finalised. The discussions will be continued at a future meeting. The Committee also confirmed its tentative decisions published in the May IFRIC Update and discussed a number of other issues.
A full listing of all of the topics discussed at the meeting follows (click through to access detailed Deloitte observer notes for each topic):
Tuesday, 18 September 2012 (10:00-17:15)
Introduction
Active Committee Projects
Items for continuing consideration
- IFRS 3 Business Combinations — Continuing employment
- IAS 19 Employee Benefits — Accounting for contribution based promises
- IAS 41 Agriculture and IFRS 13 Fair Value Measurement — Valuation of biological assets using a residual method
- IAS 19 Employee Benefits — Measurement of the net DBO with employee contributions
- IAS 27 Separate Financial Statements — Non-cash acquisition of non-controlling interest
Review of tentative agenda decisions published in May IFRIC Update
- IAS 39 Financial Instruments: Recognition and Measurement — Accounting for different aspects of restructuring Greek Government Bonds
- IAS 19 Employee Benefits — Accounting for contribution based promises
- IAS 16 Property, Plant and Equipment, IAS 38 Intangible Assets and
IAS 17 Leases — Purchase of right to use land
Wednesday, 19 September 2012 (09:00-12:15)
New items for initial consideration
- IAS 28 Investments in Associates and Joint Ventures — Impairment of investments in associates in separate financial statements
- IAS 40 Investment Property — Accounting for telecommunication tower
- IAS 39 Financial Instruments: Recognition and Measurement — Presentation of income and expense
- IFRS 3 Business Combinations — Accounting for reverse acquisition transactions where the acquiree is not a business
Administrative session
Click here to go to the preliminary and unofficial notes taken by Deloitte observers for the entire meeting.
