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IFRS Interpretations Committee meeting – 8-9 September 2011

Start date:

End date:

Location: London

About meeting notes

IFRS IC (IFRS Interpretations Committee) (blue) The IFRS Interpretations Committee held its regular meeting on 8-9 September 2011. The Committee discussed its project on levies charged for participation in a market on a specific date, and a large number of agenda decisions across various topics.

Thursday 8 September (10:00h-17:15h)

Active Committee projects

  • IAS 37 Provisions, Contingent Liabilities and Contingent Assets and IFRIC 6 Liabilities arising from Participating in a Specific Market — Waste Electrical and Electronic Equipment — Levies charged for participation in a market on a specific date

Review of Tentative Agenda Decisions published in July IFRIC Update

  • IFRS 3 Business Combinations — Business combinations involving newly formed entities: factors affecting identification of the acquirer
  • IFRS 3 Business Combinations — Business combinations under common control
  • IFRS 3 Business Combinations — Acquirer in a reverse acquisition
  • Agenda decision framework / content — Whether a framework should be developed for drafting agenda decisions given wording concerns raised
  • IAS 27 Consolidated and Separate Financial Statements — Group reorganisations in separate financial statements

Items for continuing consideration

  • IFRS 8 Operating Segments — Aggregation of operating segments and identification of the chief operating decision maker
  • IFRS 3 Business Combinations — Definition of a business
  • IFRS 11 Joint Arrangements — Acquisition of an interest in a joint operation

New items for initial consideration

  • IFRS 1 First-time Adoption of IFRSs — Transition requirements relating to government loans

Friday 9 September (09:00h-13:00h)

New items for initial consideration (continued)

  • IAS 7 Statement of Cash Flows — Classification of cash payments for deferred and contingent consideration
  • IAS 12 Income Taxes — Clarification of circumstances in which presumption of manner of recovery of investment property can be rebutted
  • IAS 12 Income Taxes — Recognition of deferred tax for single assets in a corporate entity
  • IAS 16 Property, Plant and Equipment — Recognition of insurance recoveries
  • IFRS 10 Consolidated Financial Statements — Transitional requirements

Administrative session


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