Final notes from the January 2013 IFRS Interpretations Committee meeting
25 Jan, 2013
We've posted further Deloitte observer notes from the IFRS Interpretations Committee meeting held in London on 22-23 January 2013, covering the last session on the first day of the meeting and all of the topics discussed on the second day.
The topics discussed were as follows (click through to access detailed Deloitte observer notes for each topic):
Tuesday, 22 January 2013 (09:00-17:10)
New Items for initial consideration
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
Administrative session
The following item was not considered at this meeting, and will instead be considered at a future meeting:
- 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
Click here to go to the preliminary and unofficial notes taken by Deloitte observers for the entire meeting.
