IFRS Interpretations Committee meeting – 13-14 March 2012

Start date:

End date:

Location: London

About meeting notes

IFRS IC (IFRS Interpretations Committee) (blue) The IFRS Interpretations Committee met at the IASB's offices in London on Tuesday and Wednesday 13 and 14 March 2012. The Committee continued its discussion on accounting for levies charged for participation in a specific market, continued debate on a number of items which may give rise to amendments to standards, and considered a swathe of new items, many of which the Committee tentatively decided not to take onto its agenda.

Agenda for the meeting

Tuesday 13 March 2012 (10:00-17:45)


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 specific market – date of recognition of liability

Items for continuing consideration

      • IFRIC 12 Service Concession Arrangements — Payments made by an operator in a service concession arrangement
      • IFRS 11 Joint Arrangements — Acquisition of interest in joint operation
      • IAS 28 Investments in Associates — Application of the equity method when an associate's equity changes outside of comprehensive income
      • IAS 16 Property, Plant and Equipment — Revenue-based depreciation method
      • IAS 7 Statement of Cash Flows — Review of requests in relation to IAS 7

Wednesday 14 March 2012 (09:00-14:15)

New items for initial consideration

      • IAS 1 Presentation of Financial Statements and IAS 12 Income Taxes — Presentation of payments of non-income taxes
      • IAS 12 Income Taxes — Accounting for market value uplifts on assets that are to be introduced by a new tax regime
      • IAS 16 Property, Plant and Equipment, IAS 38 Intangible Assets and IAS 17 Leases — Purchase of a right to use land
      • IAS 39 Financial Instruments: Recognition and Measurement and IFRS 9 Financial Instruments — Term-extending options in fixed rate debt instruments
      • IAS 27 Consolidated and Separate Financial Statements and SIC 13 Jointly Controlled Entities – Non-Monetary Contributions by Venturers — Definition of the term 'non-monetary asset'

Administrative session

    • Committee work in progress
    • Committee statistics
    • Proposals for revisions to the agenda criteria

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.