IFRIC meeting — 7-8 January 2010

Start date:

End date:

Location: London

IFRIC (International Financial Reporting Interpretations Committee) (blue) The International Financial Reporting Interpretations Committee (IFRIC) met at the IASB's offices in London on Thursday and Friday 7 and 8 January 2010.

Agenda for the meeting

THURSDAY 7 JANUARY 2010 (10:00-18:15)


Active Committee projects

  • IAS 16 Property, Plant and Equipment – Accounting for production phase stripping costs in the mining industry
  • IFRS 2 Share-based Payment – Vesting and non-vesting conditions

Review of Tentative Agenda Decisions published in November 2009 IFRIC Update

  • IAS 38 Intangible Assets – Amortisation method
  • IFRS 2 Share-based Payment – Contingent manner of settlement
  • IAS 27 Consolidated and Separate Financial Statements – Presentation of comparatives when applying the 'pooling of interests' method
  • IAS 27 Consolidated and Separate Financial Statements – Combined financial statements and redefined reporting entities
  • IAS 18 Revenue – Receipt of a dividend of treasury shares
  • IFRS 4 Insurance Contracts and IAS 32 Financial Instruments Presentation – Scope issue for investments in REITs
  • IAS 32 Financial Instruments: Presentation – 'Fixed for fixed' condition

Annual improvements – Deliberation of comments received

  • IFRS 1 First-time Adoption of IFRSs – Revaluation basis as deemed cost
  • IAS 27 Consolidated and Separate Financial Statements – Impairment of investments in subsidiaries, jointly controlled entities and associates in the separate financial statements of the investor
  • IFRS 3 Business Combinations – Measurement of non-controlling interests
  • IFRS 3 Business Combinations – Transition requirements for contingent consideration from a business combination that occurred before the effective date of the revised IFRS
  • IFRS 7 Financial Instruments: Disclosures – Disclosures about the nature and extent of risks arising from financial instruments
  • IAS 28 Investments in Associates – Partial use of fair value for measurement of associates
  • IAS 39 Financial Instruments: Recognition and Measurement – Bifurcation of embedded foreign currency derivative
  • IAS 39 Financial Instruments: Recognition and Measurement – Application of the fair value option
  • IAS 34 Interim Financial Reporting – Significant events and transactions
  • Remaining issues from August 2008 Annual Improvements ED


FRIDAY 8 JANUARY 2010 (09:00-12:30)

Staff recommendations for tentative agenda decisions

  • IFRS 8 Operating Segments and IAS 36 Impairment of Assets – Transition provisions for IFRS 8 amendment
  • IAS 21 The Effects of changes in Foreign Exchange Rates – Determination of functional currency of investment holding company
  • IAS 32 Financial Instruments: Presentation – Debt/equity classification of instruments with obligation to deliver cash at the discretion of shareholders
  • IFRS 1 First-time adoption of International Financial Reporting Standards – Accounting for costs included in self-constructed assets on transition
  • IAS 39 Financial Instruments Recognition and Measurement – Unit of account for forward contracts with volumetric optionality

Administrative session – IFRIC work in progress

The agenda papers for this meeting are available on the IASB's website.

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