IFRIC Update – March 3, 2020

Start date:

End date:

Location: London

In March 2020, the IFRS Interpretations Committee released a summary of its March 3, 2020 meeting.

The following items were discussed:

Committee's tentative agenda decisions

  • Sale and Leaseback with Variable Payments (IFRS 16, Leases)
  • Deferred Tax related to an Investment in a Subsidiary (IAS 12, Income Taxes)

Committee's agenda decisions

  • Translation of 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)
  • Training Costs to Fulfil a Contract (IFRS 15, Revenue from Contracts with Customers)

Other matters

  • Work in Progress

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

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