Review of tentative agenda decisions published in March 'IFRIC Update'
Date recorded:
The IFRIC confirmed its decisions not to take the following items to the agenda:
- IFRS 3 Business Combinations – Reassessments on a business combination
- IAS 1 Presentation of Financial Statements and IAS 39 Financial Instruments: Recognition and Measurement – Current or non-current presentation of derivatives classified as 'held for trading' under IAS 39
- IAS 16 Property, Plant and Equipment – Sale of assets held for rental
- IAS 19 Employee Benefits – Curtailments and negative past service costs
In doing so, the IFRIC had suggestions on the wording of the Agenda Decision notices. In particular, when the IFRIC was referring something to the IASB, the staff was asked, wherever possible, to indicate the action that the IFRIC was suggesting (for example, Annual Improvements Project item, incorporation into a current project, other). The Agenda Decisions will be published in the May 2007 issue of IFRIC Update.
