IFRIC Update - March 22, 2016
Start date:
End date:
Location: London
On April 6, 2016, the IFRS Interpretations Committee released a summary of its March 22 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 long-term interests
- IAS 16 Property, Plant and Equipment—Accounting for proceeds and costs of testing of PPE
- IAS 20 Accounting for Government Grants and Disclosure of Government Assistance—Accounting for recoverable cash payments
- IFRIC 12 Service Concession Arrangements—Accounting for service concession arrangements for which the infrastructure is leased
Item recommended to the Board to address through an amendment:
- IAS 12 Income Taxes—Accounting for income tax consequences of payments on financial instruments classified as equity
Interpretations Committee’s tentative agenda decisions:
- IFRS 11 Joint Arrangements and IFRS 10 Consolidated Financial Statements—Accounting for loss of control transactions
Interpretations Committee’s agenda decisions:
- IFRS 9 Financial Instruments—Determining hedge effectiveness for net investment hedges
- IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets—Variable payments for asset purchases
- IAS 32 Financial Instruments: Presentation—Classification of liability for a prepaid card in the issuer’s financial statements
- IAS 32 Financial Instruments: Presentation—Offsetting and cash-pooling arrangements
Other matters:
- Issues on the March 2016 meeting agenda postponed to a future Interpretations Committee meeting
- Interpretations Committee work in progress update
- Interpretations Committee review of 2015 activity
Review the IFRIC Update on the IASB's Web site.