IFRIC Update

Date recorded:

IFRIC staff updated the Board on the latest developments from the IFRIC meeting held 1-2 November 2006. Five items were specifically mentioned:

  • Draft Handbook on IFRIC Due Process - Review of responses
  • IAS 18 Revenue - Real estate sales
  • IAS 18 Revenue - Revenue recognition in respect of initial fees paid by a fund manager
  • IAS 21 The Effects of Changes in Foreign Exchange Rates - Hedging a net investment
  • IAS 41 Agriculture - Recognition and measurement of biological produce

All these items have previously been covered by Notes taken by Deloitte Observers during the November 2006 IFRIC meeting.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.