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.

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