Start date: Jun 13, 2017

End date: Jun 13, 2017

Location: London

On June 21, 2017, the IFRS Interpretations Committee released a summary of its June 13, 2017 meeting.

The following items were discussed:

Items on the current agenda

• IFRS 9 Financial Instruments—Modification or exchange of financial liabilities that do not result in derecognition
• IAS 23 Borrowing costs—Borrowing costs on completed qualifying assets

Committee’s tentative agenda decisions

• IFRS 3 Business Combinations—Acquisition of a group of assets that does not constitute a business
• IAS 28 Investments in Associates and Joint Ventures—Acquisition of an associate or joint venture from an entity under common control
• IAS 37 Provisions, Contingent Liabilities and Contingent Assets—Costs considered in assessing whether a contract is onerous
• IAS 38 Intangible Assets—Goods acquired for promotional activities

Committee’s agenda decisions

• IAS 19 Employee Benefits—Discount rate in a country that has adopted another country’s currency
• IAS 32 Financial Instruments: Presentation—Centrally cleared client derivatives
• IAS 33 Earnings per Share—Tax arising from payments on participating equity instruments
• IAS 41 Agriculture—Biological assets growing on bearer plants

Other matters

• IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors— Accounting policy changes resulting from agenda decisions
• Committee work in progress

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