IFRS Interpretations Committee work in progress

Date recorded:

The purpose of Agenda Paper 7 (link to IASB's website) was to update the IFRS Interpretations Committee on the current status of issues that are in progress but that were not to be discussed by the Committee in the September 2014 meeting.

The Director of Implementation Activities introduced the paper and asked the Committee members whether they had any questions or comments on the Committee’s outstanding issues list.

The Chairman inquired about the status of the issue relating to accounting for variable payments for the separate acquisition of tangible and intangible assets outside a business combination, an issue which had previously been discussed by the Committee.

The Director of Implementation activities responded by noting that the staff had taken this issue to the IASB, and that it was an issue that would not be considered until the IASB had completed its discussions on the leasing project. He added that at that point in time, it might be appropriate for the Committee to ask the IASB whether it wanted the Committee to take the issue back onto its agenda. He further highlighted the fact that there was a summary of the status of the issue in the July 2014 IFRIC update.

Another Committee member inquired about the negative interest issue, and questioned when the staff intended to bring the issue back to the Committee.

The Director of Implementation activities responded, and noted that it could be in November 2014, but it was more likely that this issue would be brought to the Committee in January 2015.

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