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IFRS Interpretations Committee meeting – 3-4 November 2011

Start date:

End date:

Location: London

About meeting notes

IFRS IC (IFRS Interpretations Committee) (blue) The IFRS Interpretations Committee met in London for its regular meeting on 3-4 November 2011. In addition to a number of agenda discussions, the Committee continued its discussions on its project on levies charged for participation in a market on a specific date and the proposed IASB project on written put options over non-controlling interests.

Agenda for the meeting

Thursday 3 November (10:00h-17:30h)

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
  • IAS 32 Financial Instruments: Presentation — Put options written over non-controlling interests

Review of Tentative Agenda Decisions published in September IFRIC Update

  • 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

Items for continuing consideration

  • IFRIC 15 Agreements for the Construction of Real Estate — Clarification of continuous transfer
  • IFRS 3 Business Combinations — Definition of a business
  • IAS 7 Statement of Cash Flows Classification of cash payments for deferred and contingent consideration

Administrative session

Friday 9 September (09:00h-15:30h)

Items for continuing consideration (continued)

  • IFRS 11 Joint Arrangements — Acquisition of interest in joint operation
  • IAS 28 Investments in Associates — Share of other changes in equity

New items for initial consideration

  • IAS 33 Earnings per Share — Non-cumulative pref dividends EPS calculation
  • IFRIC 12 Service Concession Arrangements — Payments to operate
  • IFRIC 12 Service Concession Arrangements — Classification of cash flows for construction
  • IAS 38 Intangible Assets — Clarification on the application of amortisation method
  • IAS 19 Employee Benefits — Classification of payments to encourage early retirement

Correction list for hyphenation

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