IFRIC Update - November 20, 2017

Start date:

End date:

Location: London

On November 29, 2017, the IFRS Interpretations Committee released a summary of its November 20, 2017 meeting.

The following items were discussed:

Items on the current agenda

  • Subsidiary as a First-time Adopter (IFRS 1 First-time Adoption of International Financial Reporting Standards)
  • Costs Considered in Assessing Whether a Contract is Onerous (IAS 37 Provisions, Contingent Liabilities and Contingent Assets)

Committee’s tentative agenda decisions

  • Presentation of Interest Revenue for Particular Financial Instruments (IFRS 9 Financial Instrumentsand IAS 1 Presentation of Financial Statements)
  • Revenue Recognition in a Real Estate Contract that Includes the Transfer of Land (IFRS 15 Revenue from Contracts with Customers)
  • Right to Payment for Performance Completed to Date (IFRS 15 Revenue from Contracts with Customers)

Committee’s agenda decisions

  • Acquisition of a Group of Assets (IFRS 3 Business Combinations)

Other matters

  • Committee work in progress

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

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