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
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