IFRS Interpretations Committee meeting — 14–15 May 2013

Start date:

End date:

Location: London

IFRS IC meeting (blue)

The IFRS Interpretations Committee held its regular meeting in London on 14-15 May 2013. Discussions included the finalisation of tentative agenda decisions (IAS 10, IAS 28/IFRS 3, IAS 7, and IFRS 2), further analysis on IFRS 3, IAS 19, IAS 28, IFRS 10, and IFRS 5. Also discussed wee annual improvements, limited scope amendments to IFRSs, IFRS 2, and new issues concerning IAS 32, IFRS 7, and IFRS 13.

Agenda for the meeting

Tuesday, 14 May 2013 (10:00-17:45)


Tentative Agenda Decisions to finalise

  • IAS 10 Events after the Reporting Period — Reissue of financial statements
  • IAS 28/IFRS 3 Business Combinations — Associates and common control
  • IAS 7 Statement of Cash Flows: Disclosures — Definition of cash equivalents
  • IFRS 2 Share-based Payment — Timing of the recognition of intercompany recharges

IFRS IC/ IASB requests for further analysis

  • IFRS 3 Business combinations — Input to IFRS 3 PIR
  • IAS 19 Employee Benefits — Determination of discount rate

New issues

  • IAS 32 Financial Instruments: Presentation — Classification of instruments when issuer has choice over how obligation is settled
  • IFRS 7 Financial Instruments: Disclosures — Servicing agreements

IFRS IC/ IASB requests for further analysis

  • IAS 28 Investments in Associates and Joint Ventures — Elimination of intercompany profits between an issuer and its joint venture
  • IFRS 10 Consolidated Financial Statements — Effect of protective rights on an assessment of control

      Annual Improvements (2011-2013 cycle)

      • IFRS 1 First‑time Adoption of International Financial Reporting Standards — Meaning of effective IFRSs
      • IFRS 3 Business Combinations — Scope exceptions for joint ventures
      • IFRS 13 Fair Value Measurement — Portfolio netting exception
      • IAS 40 Investment Property — Definition of a business


          Wednesday, 15 May 2013 (09:00-11:50)

          IFRS IC/ IASB requests for further analysis

          • IFRS 5 Non‑current Assets Held for Sale and Discontinued Operations — Classification as held for sale in conjunction with a planned IPO /  Change of disposal method

          Limited scope amendments to IFRSs

          • IAS 12 Income Taxes — Recognition of deferred tax assets for unrealised losses

          Old issues to revisit

          • IFRS 2 Share-based Payment — Transactions in which the manner of settlement is contingent on future events

            New issues

            • IFRS 13 Fair Value Measurement — Portfolios

              Administrative session

              • Committee work in progress
              • Acknowledgements of retiring members


                  Agenda papers from this meeting are available on the IASB's website.

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