IFRIC meeting — 12 July 2007

Start date:

End date:

Location: London

IFRIC (International Financial Reporting Interpretations Committee) (blue) The International Financial Reporting Interpretations Committee (IFRIC) met at the IASB's offices in London on Thursday 12 July 2007. The meeting had been scheduled to continue on Friday 13 July, but IFRIC completed its work in one day.

Agenda for the meeting

Thursday, 12 July 2007 (10:00-17:00)


Active Committee projects

  • IAS 18 – Customer contributions – Accounting for the receipt of customer contributions such as an asset (or cash towards the construction or acquisition of an asset) that is then used to provide an ongoing service or an ongoing supply of goods to the customer.
  • IAS 18 – Should interpretive guidance on identifying agency arrangements be provided?
  • IAS 27 – De-mergers and other non-cash distributions
  • IFRS 2 – Group cash-settled share-based payment transactions where the parent of the entity (not the entity) has the obligation to make the cash payments to the employees.

Staff recommendations for tentative agenda decisions

  • IFRS 5 – Do the disclosure requirements of IFRS 7 Financial Instruments: Disclosures and IAS 19 Employee Benefits apply to non-current assets (or disposal groups) classified as held for sale and discontinued operations under IFRS 5
  • IAS 19 – Allocation of the effects of salary increases


Friday, 13 July 2007 (9:00-10:00)

Note: IFRIC completed its work in one day. The topics below were considered on Thursday. However, for convenience, the Deloitte observer notes from the meeting are presented in accordance with the original agenda.

Review of tentative agenda decisions published in May 2007 IFRIC Update

  • IAS 12 – Deferred tax arising from unremitted overseas earnings
  • IAS 39 – Gaming transactions
  • IAS 39 – Hedging future cash flows with purchased options
  • IAS 39 – Hedging multiple risks with a single derivative hedging instrument
  • IAS 39 – Scope of IAS 39 paragraph 11A
  • IAS 39 – AG 33(d)(iii) of IAS 39
  • IFRS 5 – Plan to sell the controlling interest in a subsidiary


Agenda papers from this meeting are available on the IASB's website.

Related Topics

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