This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IFRIC Update - May 10, 2016

Start date:

End date:

Location: London

On May 19, 2016, the IFRS Interpretations Committee released a summary of its May 10 meeting.

Items on the current agenda:

  • IFRS 9 Financial Instruments and IAS 28 Investments in Associates and Joint Ventures—Measurement of long-term interests
  • IAS 12 Income Taxes—Expected manner of recovery of indefinite life intangible assets when measuring deferred tax
  • IAS 21 The Effects of Changes in Foreign Exchange Rates—Foreign Currency Transactions and Advance Consideration

Deliberation of comments received on proposed narrow-scope amendments

  • IAS 40 Investment Property—Exposure Draft of proposed amendments to IAS 40 Transfers of Investment Property

Interpretations Committee’s tentative agenda decisions

  • IFRS 9 Financial Instruments and IAS 39 Financial Instruments: Recognition and Measurement—Fees and costs included in the ‘10 per cent’ test for the purpose of derecognition
  • IAS 32 Financial Instruments: Presentation—Accounting for a written put option over non-controlling interests to be settled by a variable number of the parent’s shares
  • IFRIC 12 Service Concession Arrangements—Accounting for service concession arrangements for which the infrastructure is leased

Interpretations Committee’s agenda decisions:

  • IFRS 9 Financial Instruments and IAS 39 Financial Instruments: Recognition and Measurement—Derecognition of modified financial assets
  • IAS 20 Accounting for Government Grants and Disclosure of Government Assistance—Accounting for repayable cash receipts
  • IAS 36 Impairment of Assets—Recoverable amount and carrying amount of a cash-generating unit

Other matters:

  • Interpretations Committee work in progress update

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

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.