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:
- IFRS 9, Financial Instruments and IAS 28, Investments in Associates and Joint Ventures—Impairment of long-term interests
- IFRS 11, Joint Arrangements—Remeasurement of previously held interests: Various transactions
- IAS 16, Property, Plant and Equipment—Accounting for proceeds and costs of testing of PPE: Should net proceeds reduce the cost of assets?
- 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:
- IFRS 11, Joint Arrangements—Remeasurement of previously held interests: Various transactions
Interpretations Committee’s tentative agenda decisions:
- 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?
- IFRS 5, Non-current Assets Held for Sale and Discontinued Operations—How to present intragroup transactions between continuing and discontinued operation
- IFRS 5, Non-current Assets Held for Sale and Discontinued Operations—Various IFRS 5-related issues
- IFRS 9, Financial Instruments—Transition for hedge accounting
- IFRS 11, Joint Arrangements—Remeasurement of previously held interests: Various transactions
- IAS 32, Financial Instruments: Presentation—Classification of the liability for a prepaid card in the issuer’s financial statements
- 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:
- 2015 Agenda Consultation
- Interpretations Committee work in progress update
Review the IFRIC Update on the IASB's Web site.