IFRIC Update – June 11-12, 2019
Start date:
End date:
Location: London
On June 21, 2019, the IFRS Interpretations Committee released a summary of its June 11-12, 2019 meeting.
The following items were discussed:
Committee's tentative agenda decisions
- Fair Value Hedge of Foreign Currency Risk on Non-Financial Assets (IFRS 9, Financial Instruments)
- Compensation for Delays or Cancellations (IFRS 15, Revenue from Contracts with Customers)
- Lessee’s Incremental Borrowing Rate (IFRS 16, Leases)
- Lease Term and Useful Life of Leasehold Improvements (IFRS 16, Leases and IAS 16, Property, Plant and Equipment)
- Presentation of Liabilities or Assets Related to Uncertain Tax Treatments (IAS 1, Presentation of Financial Statements)
- Disclosure of Changes in Liabilities Arising from Financing Activities (IAS 7, Statement of Cash Flows)
- Subsequent Expenditure on Biological Assets (IAS 41, Agriculture)
Committee’s agenda decisions
- Holdings of Cryptocurrencies
- Costs to Fulfil a Contract (IFRS 15, Revenue from Contracts with Customers)
- Subsurface Rights (IFRS 16, Leases)
- Effect of a Potential Discount on Plan Classification (IAS 19, Employee Benefits)
Items on the current agenda
- Sale of a Single Asset Entity Containing Real Estate (IFRS 10, Consolidated Financial Statements)
- Lack of Exchangeability (IAS 21, The Effects of Changes in Foreign Exchange Rates)
Other matters
- Matters Reported to the Board
- Committee Work in Progress
Review the IFRIC Update and podcast on the International Accounting Standards Board's Web site.