Agenda and pre-meeting summaries for the November 2019 IFRS Interpretations Committee meeting

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19 Nov, 2019

The IFRS Interpretations Committee will meet on Tuesday 26 November 2019 to discuss six issues, including three new interpretation requests.

New Issues

The Committee will discuss three new issues and recommends:

IFRS 16 Leases—Sale and leaseback with variable payments (Agenda Paper 5): If an entity sells an asset and leases it back with variable payments, how does the entity measure the ROU asset so as to determine the amount of gain or loss to be recognised at the transaction date?

IFRS 15 Revenue from Contracts with Customers—Presentation of player transfer payments (Agenda Paper 6): Does a football club transferring a player to another club recognise the transfer payment received as revenue applying IFRS 15, or instead recognises the gain or loss in profit or loss applying IAS 38?

IAS 12 Income Taxes—Tax consequences under multiple tax regimes (Agenda Paper 7): How does an entity account for deferred taxes when the recovery of the carrying amount of an asset gives rise to multiple tax consequences? In some tax jurisdictions, the manner in which an entity recovers the carrying amount of an asset—for example, whether it recovers the asset through use or through sale—determines the tax consequences that follow from such recovery.

Agenda Decision to finalise

IFRS 16 Leases—Lease term and useful life of leasehold improvements (Agenda Paper 4): In the light of comments received on the tentative Agenda Decision the staff recommend either finalising an amended Agenda Decision recommend that the IASB propose an amendment to IFRS 16 as part of the next Annual Improvements to IFRS Standards.

Committee Input to the IASB

The IASB is seeking input from the Committee on two projects.

Agenda Consultation (Agenda Paper 2): The staff are presenting an overview of the IASB’s approach to the 2020 Agenda Consultation and seeking input on the matters that should be included in the Request for Information.  

Post-implementation review of IFRS 10, 11 and 12 (Agenda Paper 3): The IASB has started a PIR of IFRS 10, 11 and 12. The Committee will discuss the agenda decisions published in relation to these Standards along and other application issues.

Work in progress (Agenda Paper 11)

There are no new matters that have not yet been presented to the Committee.

The full agenda for the meeting can be found here. We will update this page for any changes to the agenda and our Deloitte pre-meet­ing summaries for the meeting as they become available.

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