IFRS Interpretations Committee meeting – 3-4 November 2011

Start date:

End date:

Location: London

About meeting notes

IFRS IC (IFRS Interpretations Committee) (blue) The IFRS Interpretations Committee met in London for its regular meeting on 3-4 November 2011. In addition to a number of agenda discussions, the Committee continued its discussions on its project on levies charged for participation in a market on a specific date and the proposed IASB project on written put options over non-controlling interests.

Agenda for the meeting

Thursday 3 November (10:00h-17:30h)

Active Committee projects

  • IAS 37 Provisions, Contingent Liabilities and Contingent Assets and IFRIC 6 Liabilities arising from Participating in a Specific Market — Waste Electrical and Electronic Equipment — Levies charged for participation in a market on a specific date
  • IAS 32 Financial Instruments: Presentation — Put options written over non-controlling interests

Review of Tentative Agenda Decisions published in September IFRIC Update

  • IAS 12 Income Taxes — Clarification of circumstances in which presumption of manner of recovery of investment property can be rebutted
  • IAS 12 Income Taxes — Recognition of deferred tax for single assets in a corporate entity

Items for continuing consideration

  • IFRIC 15 Agreements for the Construction of Real Estate — Clarification of continuous transfer
  • IFRS 3 Business Combinations — Definition of a business
  • IAS 7 Statement of Cash Flows Classification of cash payments for deferred and contingent consideration

Administrative session

Friday 9 September (09:00h-15:30h)

Items for continuing consideration (continued)

  • IFRS 11 Joint Arrangements — Acquisition of interest in joint operation
  • IAS 28 Investments in Associates — Share of other changes in equity

New items for initial consideration

  • IAS 33 Earnings per Share — Non-cumulative pref dividends EPS calculation
  • IFRIC 12 Service Concession Arrangements — Payments to operate
  • IFRIC 12 Service Concession Arrangements — Classification of cash flows for construction
  • IAS 38 Intangible Assets — Clarification on the application of amortisation method
  • IAS 19 Employee Benefits — Classification of payments to encourage early retirement

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.