IAS 37 — Deposits on returnable containers

Date recorded:

The IFRIC was asked for guidance on the accounting for deposits received for returnable containers.

In November 2007 the IFRIC published a tentative agenda decision proposing not to add the item to its agenda. In January 2007 the IFRIC reaffirmed that decision, but could not agree on the wording of the agenda decision.

The IFRIC discussed a revised tentative agenda decision proposed by the staff at this meeting. While there seemed to be agreement not to add the item to the agenda, some members continued to be concerned with the wording of the agenda decision. Specifically, they were concerned that the proposed wording (for example, 'the seller has the right to force return') could be interpreted as guidance while the staff made clear those were meant to be examples only. It was agreed to change the wording to avoid providing application guidance and publish the agenda decision.

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