IFRIC Update - November 10-11, 2015

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End date:

Location: London

On November 19, 2015, the IFRS Interpretations Committee released a summary of its November 10 and 11 meeting.

The following items were discussed:

Items on the current agenda:

  • IFRS 9 Financial Instruments and IAS 28 Investments in Associates and Joint Ventures—Measurement of interests in associates and joint ventures that, in substance, form part of the net investment (Agenda Paper 5)
  • IAS 12 Income Taxes—Accounting for income tax consequences of interest payments on, and issuing costs of, financial instruments that are classified as equity (Agenda Paper 8)
  • IFRIC 12 Service Concession Arrangements—Payments by an operator to a grantor in a service concession arrangement in the scope of IFRIC 12 (Agenda Paper 2C)
  • IFRIC 12 Service Concession Arrangements—Accounting for combined service concession and lease arrangements (Agenda Paper 13)

Interpretations Committee’s tentative agenda decisions:

  • IFRS 9 Financial Instruments and IAS 39 Financial Instruments: Recognition and Measurement—Derecognition of modified financial assets (Agenda Paper 4)
  • IFRS 9 Financial Instruments—Determining hedge effectiveness for net investment hedges (Agenda Paper 11)
  • IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets—Variable payments for asset purchases (Agenda Papers 2–2B)
  • IAS 20 Accounting for Government Grants and Disclosure of Government Assistance—Accounting for recoverable cash payments (Agenda Paper 7)
  • IAS 32 Financial Instruments: Presentation—Offsetting and cash pooling (Agenda Paper 10)
  • IAS 36 Impairment of Assets—Recoverable amount and carrying amount of a cash-generating unit (Agenda Paper 14)

Other matters:

  • Definition of a business—Update on IASB proposals (Agenda Paper 3)
  • 2015 Agenda Consultation (Agenda Paper 9)
  • Interpretations Committee work in progress update (Agenda Paper 15)
Interpretations Committee’s agenda decision:
  • IAS 2 Inventories—Prepayments in long-term supply contracts

Review the IFRIC Update on the IASB's Web site.

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