IFRS Interpretations Committee meeting – 7-8 July 2011

Start date:

End date:

Location: London

About meeting notes

IFRS IC (IFRS Interpretations Committee) (blue) The IFRS Interpretations Committee continued deliberations on its project on accounting for production phase stripping costs in the mining industry, continued to explore whether IFRIC 6 should be applied by analogy, and considered a large number of other issues.

Agenda for the meeting

Thursday 7 July (10:00h-17:30h)

Active Committee projects

  • IAS 16 Property, Plant and Equipment – Accounting for production phase stripping costs in the mining industry

Items for continuing consideration

  • IAS 37 Provisions, Contingent Liabilities and Contingent Assets and IFRIC 6 Liabilities arising from Participating in a Specific Market – Waste Electrical and Electronic Equipment – Use of IFRIC 6 by analogy

Review of Tentative Agenda Decisions published in May IFRIC Update

  • IAS 16 Property, Plant and Equipment – Cost of testing asset
  • IAS 19 Employee Benefits – Defined contribution plans with vesting conditions

New items for initial consideration

  • IFRS 3 Business Combinations – Common control transactions and business combinations involving newly formed entities
  • IAS 27 Consolidated and Separate Financial Statements – Group reorganisations in separate financial statements
  • IFRS 3 Business Combinations – Definition of a business


Friday 8 July (09:00h-10:45h)

New items for initial consideration (continued)

  • IFRS 11 Joint Arrangements – Acquisition of an interest in a joint operation
  • IFRS 8 Operating Segments – Aggregation of operating segments and identification of the chief operating decision maker

Administrative session

  • Committee work in progress
  • Review of statistics of the Committee's activity


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