IFRS Interpretations Committee meeting — 22–23 January 2013

Start date:

End date:

Location: London

IFRS IC meeting (blue)

The IFRS Interpretations Committee held its regular meeting in London on 22–23 January 2013. The agenda included a review of tentative agenda decisions and the discussion of due process documents. The Committee discussed its active projects on IAS 36/IAS 38/IFRIC 12 and IAS 1 as well as the Annual Improvements project. Continued discussion of items concerned  IAS 10, IAS 19 and IAS 40, while new items considered concerned IAS 7, IAS 28, IAS 39, IFRS 2 and IFRS 7.

Agenda for the meeting

TUESDAY, 22 JANUARY 2013 (09:00-17:10)


Review of tentative agenda decisions published in September IFRIC Update

  • IFRS 3 Business Combinations – Continuing employment
  • IAS 27 Separate Financial Statements – Non-cash acquisition of non-controlling interest
  • IAS 28 Investments in Associates and Joint Ventures – Impairment of investments in associates in separate financial statements
  • IAS 39 Financial Instruments: Recognition and Measurement – Negative interest rates

Items for continuing consideration

  • IAS 19 Employee Benefits – Measurement of the net DBO for post employee benefit plans with employee contributions
  • IAS 19 Employee Benefits – Determination of discount rate
  • IAS 7 Statement of Cash Flows – Definitions of operating, financing and investing (not discussed)
  • IAS 7 Statement of Cash Flows – Classification of interest paid that is capitalised as part of the cost of an asset (not discussed)
  • IAS 10 Events after the Reporting Period – Reissue of financial statements
  • IAS 40 Investment Property – Accounting for a structure that appears to lack the physical characteristics of a building

    Active Committee projects

    • IAS 16 Property, Plant and Equipment, IAS 38 Intangible Assets, and IFRIC 12 Service Concession Arrangements – Variable payments for the separate acquisition of PPE and intangible assets
    • IAS 1 Presentation of Financial Statements – Disclosures requirements about assessment of going concern

    New items for initial consideration

    • IFRS 2 Share-based Payment – Timing of the recognition of intercompany recharges


    Wednesday, 23 January 2013 (09:00-17:00)

    Due process documents

    • IAS 32 Financial Instruments: Presentation – Put options written over non-controlling interests
    • IAS 37 Provisions, Contingent Liabilities and Contingent Assets and IFRIC 6 Liabilities arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment – IFRIC Interpretation X Levies

    Annual improvements

    • IFRS 2 ― Definition of ‘vesting conditions’
    • IFRS 3 ― Accounting for contingent consideration in a business combination
    • IAS 1 ― Current/non-current classification of liabilities
    • IAS 16 & IAS 38 ― Revaluation method - proportionate restatement of accumulated depreciation
    • IAS 24 ― Key management personnel services

    New items for initial consideration

    • IAS 39 Financial Instruments: Recognition and Measurement – Novation of derivatives under EMIR legislation
    • IFRS 7 Financial Instruments: Disclosures – Whether the transfers of financial assets disclosure requirements apply to servicing rights/obligations
    • IAS 28 Investments in Associates and Joint Ventures and IFRS 3 Business Combinations – Associates and common control
    • IAS 7 Statement of Cash Flows – Identification of cash equivalents
    • IAS 29 Financial Reporting in Hyperinflationary Economies – Applicability of IAS 29 to financial statements prepared under the concept of financial capital maintenance in constant purchasing power units (not discussed)

    Administrative session

    • Committee work in progress


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

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