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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.

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