IFRIC Update - September 12, 2017

Start date:

End date:

Location: London

On September 22, 2017, the IFRS Interpretations Committee released a summary of its September 12, 2017 meeting.

The following items were discussed:

Items on the current agenda

  • 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

Item recommended to the Board for Annual Improvements

  • IAS 41 Agriculture—Taxation in fair value measurements

Committee’s tentative agenda decisions

  • IFRS 15 Revenue from Contracts with Customers—Revenue recognition in a real estate contract
  • IAS 28 Investments in Associates and Joint Ventures—Contributing property, plant and equipment to an associate

Committee’s agenda decisions

  • IFRS 1 First-time Adoption of International Financial Reporting Standards—Subsidiary as a first-time adopter
  • IFRS 9 Financial Instruments—Financial assets eligible for the election to present changes in fair value in other comprehensive income
  • IAS 12 Income Taxes—Interest and penalties related to income taxes
  • IAS 38 Intangible Assets—Goods acquired for promotional activities

Other matters

  • Committee work in progress

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

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