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IFRIC 8 — Scope of IFRS 2

References

History

DateDevelopmentComments
19 May 2005 IFRIC D16 Scope of IFRS 2 published Comment deadline 18 July 2005
12 January 2006 IFRIC 8 Scope of IFRS 2 issued Effective for annual periods beginning on or after 1 May 2006
18 June 2009 Withdrawn by Group Cash-settled Share-based Payment Transactions (Amendments to IFRS 2) Effective for annual periods beginning on or after 1 January 2010

 

Summary of IFRIC 8

IFRIC 8 Scope of IFRS 2 clarifies that IFRS 2 applies to arrangements where an entity makes share-based payments for apparently nil or inadequate consideration.

IFRIC 8 explains that, if the identifiable consideration given appears to be less than the fair value of the equity instruments granted or liability incurred, this situation typically indicates that other consideration has been or will be received. IFRS 2 therefore applies.

IFRIC 8 was effective for annual periods beginning on or after 1 May 2006, and superseded by amendments to IFRS 2 Share-based Payment with effect from annual periods beginning on or after 1 January 2010.