IFRIC Update - May 12, 2015
Start date:
End date:
Location: London
On May 26, 2015, the IFRS Interpretations Committee released a summary of its May 12 meeting.
The following items were discussed:
- IFRS 5, Non-current Assets Held for Sale and Discontinued Operations—Issues relating to the requirements for scope and presentation in IFRS 5
- IFRS 11, Joint Arrangements—Becoming a joint operator through the acquisition of an additional interest in an existing joint operation
- IAS 16, Property, Plant and Equipment—Accounting for net proceeds and costs of testing for property, plant and equipment (Agenda Paper 2)
- IAS 21, The Effects of Changes in Foreign Exchange Rates—Draft Interpretation Foreign Currency Transactions and Advance Consideration: sweep issue
Item recommended to the IASB for Annual Improvements
- IAS 23, Borrowing Costs—Borrowing costs on completed qualifying assets
Other matters
- IFRS 13, Fair Value Measurement—The fair value hierarchy when third-party consensus prices are used
- Interpretations Committee work in progress update
Interpretations Committee agenda decisions
- IFRS 10, Consolidated Financial Statements—Single-asset, single-lessee lease vehicles
- IAS 24 Related Party Disclosures—Definition of close members of the family of a person
Review the IFRIC Update.