Start date: Sep 11, 2018

End date: Sep 12, 2018

Location: London

On September 20, 2018, the IFRS Interpretations Committee released a summary of its September 11–12, 2018 meeting.

The following items were discussed:

Items on the current agenda

• Customer’s right to access supplier’s application software (IAS 38 Intangible Assets)

Committee’s tentative agenda decisions

• Assessment of promised goods or services (IFRS 15 Revenue from Contracts with Customers)
• Liabilities in relation to a joint operator’s interest in a joint operation (IFRS 11 Joint Arrangements)
• Investment in a subsidiary accounted for at cost: Partial disposal (IAS 27 Separate Financial Statements)
• Investment in a subsidiary accounted for at cost: Step acquisition (IAS 27 Separate Financial Statements)
• Deposits relating to taxes other than income tax (IAS 37 Provisions, Contingent Liabilities and Contingent Assets)
• Application of the highly probable requirement when a specific derivative is designated as a hedging instrument (IFRS 9 Financial Instruments and IAS 39 Financial instruments: Recognition and measurement)

Committee’s agenda decisions

• Expenditures on a qualifying asset (IAS 23 Borrowing Costs)
• Borrowing costs on land (IAS 23 Borrowing Costs)
• Determination of the exchange rate when there is a long-term lack of exchangeability (IAS 21 The Effects of Changes in Foreign Exchange Rates)
• Classification of a particular type of dual currency bond (IFRS 9 Financial Instruments)

Other matters

• Cryptocurrencie
• Accounting policies and accounting estimates (IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors)
• Committee work in progress

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