IFRIC Update - July 14, 2015
Start date:
End date:
Location: London
On July 29, 2015, the IFRS Interpretations Committee released a summary of its July 14 meeting.
The following items were discussed:
Item on the current agenda:
- IFRS 11, Joint Arrangements—Should a pre-existing interest in a joint operation be remeasured when the entity becomes a joint operator through acquisition of an additional interest in the joint operation?
Deliberation of comments received on proposals for narrow scope amendments
- IFRS 2, Share-based Payment—Classification and measurement of share based payment transactions
Item recommended to the IASB for Annual Improvements
- IAS 23, Borrowing Costs—Borrowing costs on completed qualifying assets
Interpretations Committee tentative agenda decisions
- IAS 2, Inventories / IAS 38 Intangible Assets—Should interest be accreted on prepayments in long-term supply contracts?
- IAS 12, Income Taxes—Recognition through profit or loss of deferred taxes for temporary differences arising from the effect of exchange rate changes on the tax basis of non-current assets
Other matters
- Interpretations Committee work in progress update
- Review of IFRS Interpretations Committee’s activity during January–May 2015
Interpretations Committee agenda decision
- IFRIC 14, IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction: Should an entity assume continuation of a minimum funding requirement for contributions relating to future service?
Review the IFRIC Update.