IFRS Interpretations Committee meeting — 12–13 March 2013

Start date:

End date:

Location: London

IFRS IC meeting (blue)

The IFRS Interpretations Committee held its regular meeting in London on 12-13 March 2013. Discussions included a review of tentative agenda decisions, further analysis of IAS 7, active projects on IAS 36/IAS 38/IFRIC 12, due process documents, annual improvements, and discussions on work in progress concerning IAS 19 and IFRS 2 and new issues concerning IFRS 5 and IFRS 10.

Agenda for the meeting

Tuesday, 12 March 2013 (10:00-17:15)


Review of Tentative Agenda Decisions published in November IFRIC Update

  • IAS 41 Agriculture and IFRS 13 Fair Value Measurement — Valuation of biological assets using a residual method
  • IFRS 3 Business Combinations — Accounting for reverse acquisition transations where the acquiree is not a business

IFRS IC/ IASB requests for further analysis

  • IAS 7 Statement of Cash Flows — Review of definitions of operating, financing and investing

    Active Committee projects

    • IAS 16 Property, Plant and Equipment, IAS 38 Intangible Assets, and IFRIC 12 Service Concession Arrangements — Variable payments for the separate acquisition of PPE and intangible assets

    Due process documents

    • IAS 37 Provisions, Contingent Liabilities and Contingent Assets and IFRIC 6 Liabilities arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment — IFRIC Interpretation X Levies

    Annual improvements

    • Cover note
    • IFRS 3 — Accounting for contingent consideration in a business combination
    • IAS 7 — Interest paid that is capitalised

      IFRS 3 Business Combinations

      • Mandatory purchase of NCI in BC obtaining control of listed entity

      Work in progress

      • IAS 19 Employee Benefits — Determination of discount rate

      IFRS 2 Share-based payment

      • Cover
      • Share-based payment awards settled net of tax withholdings
      • Modification of a share-based payment transaction from cash-settled to equity-settled

      New items for initial consideration

      • IFRS 5 Non-current Assets Held for Sale and Discontinued Operations — Classification in conjunction with a planned IPO and change on disposal method
      • IFRS 10 Consolidated Financial Statements — Protective rights and continuous assessment of control under IFRS 10


        Wednesday, 13 March 2013 (09:00-11:20)

        New items for initial consideration

        • IAS 28 Investments in Associates and Joint Ventures — Elimination of intercompany profits between an issuer and its joint venture
        • IAS 19 Employee Benefits — Post vs Pre-tax discount rate
        • IFRS 7 Financial Instruments: Disclosures — Applicability of the amendments to IFRS 7 Financial Instruments: Disclosures, on offsetting financial assets and financial liabilities to condensed interim financial statements

        Administrative session

        • Committee work in progress
        • Review of Interpretations Committee work in 2012


            Agenda papers from this meeting are available on the IASB's website.

            Correction list for hyphenation

            These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.