IFRIC Update - September 11–12, 2018
Start date:
End date:
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.