IFRIC Update - March 13, 2018
Start date:
End date:
Location: London
On March 23, 2018, the IFRS Interpretations Committee released a summary of its March 13, 2018 meeting.
The following items were discussed:
Items on the current agenda
- Deferred tax – tax base of assets and liabilities (IAS 12, Income Taxes)
- Costs considered in assessing whether a contract is onerous (IAS 37, Provisions, Contingent Liabilities and Contingent Assets)
- Payments relating to taxes other than income tax (IAS 37, Provisions, Contingent Liabilities and Contingent Assets)
Committee’s tentative agenda decisions
- Classification of a particular type of dual currency bond (IFRS 9, Financial Instruments)
- Hedge accounting with load following swaps (IFRS 9, Financial Instruments and IAS 39, Financial Instruments—Recognition and Measurement)
- Classification of short-term loans and credit facilities (IAS 7, Statement of Cash Flows)
Committee’s agenda decisions
- Presentation of interest revenue for particular financial instruments (IFRS 9, Financial Instruments and IAS 1, Presentation of Financial Statements)
- Revenue recognition in a real estate contract (IFRS 15, Revenue from Contracts with Customers)
- 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)
Other matters
- Responding to questions submitted
- Committee work in progress
Review the IFRIC Update on the International Accounting Standards Board's Web site.