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IFRIC Update

Date recorded:

The IFRIC staff reviewed the decision summary from the March 2006 IFRIC meeting (see also the IAS Plus Notes from this Meeting. They noted in particular that the IFRIC was likely to conclude on the dividing line between the financial asset and intangible asset models in the service concession project 'soon'.

Other projects before IFRIC illustrated stress points in current IFRS, for example IAS 18 (loyalty programmes) and IAS 39 (derecognition issues). Board members made comments on proposed Agenda Decisions, which will be considered by the IFRIC staff and the IFRIC at a future meeting.

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