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IFRS Discussion Group – Report on September 10, 2015 Meeting

  • IFRS - AcSB Image

Dec 01, 2015

On December 1, 2015, the Accounting Standards Board (AcSB) release a report about the Group’s discussions in September 2015.

The Group’s purpose is to assist the AcSB regarding the identification of issues arising on the application of IFRS in Canada. The following issues were discussed:

Items Presented and Discussed at the September 10, 2015 Meeting

  • IAS 19: Annuity Buy-ins
  • IAS 38: Cloud Computing Arrangements
  • IAS 7: Disclosure of Interest in the Statement of Cash Flows
  • IAS 21: Determining Functional Currency
  • IAS 21 and IAS 39: Translation of a Monetary Asset in an Economy with Multiple Exchange Rates
  • IAS 21 and IAS 39: Translation of an Equity Investment and Impairment Considerations
  • IFRS 9: Effective Interest Rate
  • IAS 12 and IAS 34: Income Tax Expense for Interim Periods
  • IFRS 3 and IAS 12: Uncertain Tax Positions Acquired in a Business Combination

Update on Previous Items Discussed by the Group

  • IAS 23: Impairment
  • IAS 33: Escrow Share Arrangements
  • IFRS 3, IAS 16 and IAS 37: Contingent Consideration in an Asset Purchase
  • IFRS 3: Various Issues
  • IAS 1: Classification of Long-term Debt to Be Repaid from an Offering

Other Matters

  • IFRS 3: Business Combinations
  • IFRS 15: Revenue from Contracts with Customers
  • Sale or Contribution of Assets between an Investor and its Associate or Joint Venture (Amendments to IFRS 10 and IAS 28)
  • IASB Agenda Consultation

Read the report on the AcSB's Web site

Listen to the audio recordings to hear the Group’s full discussion.

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