IFRIC Update - November 10-11, 2015
Start date:
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.