IFRIC Update – December 1-2, 2020
Start date:
End date:
Location: London
On December 14, 2020, the IFRS Interpretations Committee released a summary of its December 1-2, 2020 meeting.
The following items were discussed:
Committee’s tentative agenda decisions
- Classification of Debt with Covenants as Current or Non-current (IAS 1 Presentation of Financial Statements)
- Attributing Benefit to Periods of Service (IAS 19 Employee Benefits)
- Configuration or Customisation Costs in a Cloud Computing Arrangement (IAS 38 Intangible Assets)
- Hedging Variability in Cash Flows due to Real Interest Rates (IFRS 9 Financial Instruments)
Committee’s agenda decisions
- Supply Chain Financing Arrangements—Reverse Factoring
Other matters
- Work in Progress
Review the IFRIC Update and podcast on the International Accounting Standards Board's Web site.