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IFRIC Update - September 8-9, 2015

Start date:

End date:

Location: London

On September 24, 2015, the IFRS Interpretations Committee released a summary of its September 8 and 9 meeting.

The following items were discussed:

Items on the current agenda:

  1. IFRS 9, Financial Instruments and IAS 28, Investments in Associates and Joint Ventures—Impairment of long-term interests
  2. IFRS 11, Joint Arrangements—Remeasurement of previously held interests: Various transactions
  3. IAS 16, Property, Plant and Equipment—Accounting for proceeds and costs of testing of PPE: Should net proceeds reduce the cost of assets?
  4. IAS 16, Property, Plant and Equipment, IAS 38 Intangible Assets and IFRIC 12 Service Concession Arrangement—Variable payments for asset purchases and payments made by an operator to a grantor in a service concession arrangement

Item recommended to the IASB for Annual Improvements:

  1. IFRS 11, Joint Arrangements—Remeasurement of previously held interests: Various transactions

Interpretations Committee’s tentative agenda decisions:

  1. IFRS 5, Non-Current Assets Held for Sale and Discontinued Operations—To what extent can an impairment loss be allocated to non-current assets within a disposal group?
  2. IFRS 5, Non-current Assets Held for Sale and Discontinued Operations—How to present intragroup transactions between continuing and discontinued operation
  3. IFRS 5, Non-current Assets Held for Sale and Discontinued Operations—Various IFRS 5-related issues
  4. IFRS 9, Financial Instruments—Transition for hedge accounting
  5. IFRS 11, Joint Arrangements—Remeasurement of previously held interests: Various transactions
  6. IAS 32, Financial Instruments: Presentation—Classification of the liability for a prepaid card in the issuer’s financial statements
  7. IAS 39, Financial Instruments: Recognition and Measurement—Separation of an embedded interest rate floor from a floating rate host contract in a negative interest rate environment

Other matters:

  1. 2015 Agenda Consultation
  2. Interpretations Committee work in progress update

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

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