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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.

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