IAS 37 – Changes in decommissioning, restoration, and similar liabilities
The IFRIC considered the accounting treatment of certain changes in decommissioning provisions. It considered the accounting treatment for the effect of changes in:
- the discount rate as defined in paragraph 47 of IAS 37 Provisions, Contingent Liabilities and Contingent Assets and
- estimated cash flows.
In particular, whether the effect of these changes should be capitalised or recognised in profit or loss.
Current status of the project
This project has been completed. IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities was issued on 27 May 2004.
|4 September 2003||Draft Interpretation D2 Changes in Decommissioning, Restoration and Similar Liabilities published||Comments deadline 3 November 2003|
|27 May 2004||IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities issued||Effective for annual periods beginning on or after 1 September 2004|