IFRIC Update - November 27, 2018

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End date:

Location: London

On December 7, 2018, the IFRS Interpretations Committee released a summary of its November 27, 2018 meeting.

The following items were discussed:

Items on the current agenda

  • Lack of exchangeability (IAS 21, The Effects of Changes in Foreign Exchange Rates)

Committee’s tentative agenda decisions

  • Sale of output by a joint operator (IFRS 11, Joint Arrangements)
  • Physical settlement of contracts to buy or sell a non-financial item (IFRS 9, Financial Instruments)
  • Over time transfer of constructed good (IAS 23, Borrowing Costs)
  • Customer’s right to access the supplier’s software hosted on the cloud (IAS 38, Intangible Assets)
  • Credit enhancement in the measurement of expected credit losses (IFRS 9, Financial Instruments)
  • Curing of a credit-impaired financial asset (IFRS 9, Financial Instruments)

Other matters

  • Committee work in progress

Review the IFRIC Update on the International Accounting Standards Board's Web site.

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