IFRIC Update – September 17, 2019

Start date:

End date:

Location: London

On September 25, 2019, the IFRS Interpretations Committee released a summary of its September 17, 2019 meeting.

The following items were discussed:

Committee’s tentative agenda decisions

  • Training Costs to Fulfil a Contract (IFRS 15 Revenue from Contracts with Customers)
  • Definition of a Lease—Shipping Contract (IFRS 16 Leases)
  • Translating a Hyperinflationary Foreign Operation—Presenting Exchange Differences (IAS 21 The Effects of Changes in Foreign Exchange Rates and IAS 29 Financial Reporting in Hyperinflationary Economies)
  • Cumulative Exchange Differences before a Foreign Operation becomes Hyperinflationary (IAS 21 and IAS 29)
  • Presenting Comparative Amounts when a Foreign Operation first becomes Hyperinflationary (IAS 21 and IAS 29)

Committee’s agenda decisions

  • Compensation for Delays or Cancellations (IFRS 15 Revenue from Contracts with Customers)
  • Lessee’s Incremental Borrowing Rate (IFRS 16 Leases)
  • Fair Value Hedge of Foreign Currency Risk on Non-Financial Assets (IFRS 9 Financial Instruments)
  • 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)

Other matters

  • Committee Work in Progress

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

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.