Notes from the November 2012 IFRS Interpretations Committee meeting
15 Nov, 2012
IFRS Interpretations Committee held its meeting in London on 13-14 November 2012. Deloitte observer notes for the meeting are now available.
A full listing of all of the topics discussed at the meeting follows (click through to access detailed Deloitte observer notes for each topic):
Tuesday, 13 November 2012 (10:00-17:45)
Introduction
Active Committee Projects
- IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets, IFRIC 12 Service Concession Arrangements — Variable payments for the separate acquisition of PPE and intangible assets
- IAS 19 Employee Benefits — Accounting for contribution based promises
Review of Tentative Agenda Decisions published in July IFRIC Update
- IAS 39 Financial Instruments: Recognition and Measurement — Accounting for different aspects of restructuring Greek Government bonds
- IAS 18 Revenue, IAS 37 Provisions, Contingent Liabilities and Contingent Assets, and IAS 39 Financial Instruments: Recognition and Measurement — Regulatory assets and liabilities
Items for continuing consideration
- IFRS 3 Business Combinations — Accounting for reverse acquisition transactions where the acquiree is not a business
- IAS 41 Agriculture and IFRS 13 Fair Value Measurement — Valuation of biological assets using a residual method
- IAS 19 Employee Benefits — Measurement of the net DBO for post employee benefit plans with employee contributions
Administrative session
Due Process Documents
- IFRS 8 — Aggregation of operating segments
- IFRS 8 — Reconciliation of the reportable segments' assets to the entity's assets
- IFRS 13 — Short-term receivables and payables
- IAS 12 — Recognition of deferred tax assets for unrealised losses
New Items for initial consideration
- IAS 10 Events after the Reporting Period — Reissue of financial statements
- IAS 34 Interim Financial Reporting — Disclosure of information "elsewhere in the interim financial report"
Wednesday, 14 November 2012 (09:00-15:25)
Due Process Documents
New items for initial consideration
- IAS 1 Presentation of Financial Statements — Disclosures requirements about assessment of going concern
- IAS 19 Employee Benefits — Determination of discount rate
- IFRS 2 Share-based Payment — Timing of recognition of liability
- IFRS 3 Business Combinations — Mandatory purchase of NCI in BC obtaining control of listed entity
Click here to go to the preliminary and unofficial notes taken by Deloitte observers for the entire meeting.