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IFRIC Update – March 5-6, 2019

Start date:

End date:

Location: London

On March 15, 2019, the IFRS Interpretations Committee released a summary of its March 5-6, 2019 meeting.

The following items were discussed:

Committee's tentative 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)

Committee’s agenda decisions

  • 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)
  • Physical Settlement of Contracts to Buy or Sell a Non-financial Item (IFRS 9, Financial Instruments)
  • Credit Enhancement in the Measurement of Expected Credit Losses (IFRS 9, Financial Instruments)
  • Curing of a Credit-impaired Financial Asset (IFRS 9 Financial Instruments)
  • Sale of Output by a Joint Operator (IFRS, 11 Joint Arrangements)
  • Liabilities in relation to a Joint Operator’s Interest in a Joint Operation (IFRS 11, Joint Arrangements)
  • Over Time Transfer of Constructed Good (IAS 23, Borrowing Costs)
  • Customer’s Right to Receive Access to the Supplier’s Software Hosted on the Cloud (IAS 38, Intangible Assets)

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

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