IFRS Interpretations Committee meeting — 24 March 2015

Start date:

End date:

Location: London

IFRS IC meeting (blue)

The IFRS Interpretations Committee will meet at the IASB's offices in London on 24 March 2015. The Committee will:

  • continue discussion of issues arising on IAS 21, IAS 12, and IFRS 5;
  • consider finalising tentative agenda decisions on IFRS 11, IFRS 10, IAS 12, and IAS 19;
  • consider a new issue on IFRIC 14.

Agenda for the meeting


TUESDAY, 24 MARCH 2015 (10:00-16:15)

Opening remarks, administrative matters, and meeting minutes of the January meeting

Items for continuing consideration

  • IAS 21
    • Revenue transaction denominated in foreign currency
  • IAS 12
    • Recognition of deferred tax assets for unrealised losses
    • Proposed amendments to IAS 12

Finalisation of tentative agenda decisions

  • IFRS 11
    • Classification of joint arrangements: the assessment of ‘other facts and circumstances’
    • Classification of joint arrangements: application of ‘other facts and circumstances’ to specific fact patterns
    • Classification of joint arrangements: consideration of two joint arrangements with similar features that are classified differently
    • Accounting by the joint operator: recognition of revenue by a joint operator
    • Accounting by the joint operator: the accounting treatment when the joint operator’s share of output purchased differs from its share of ownership interest in the joint operation
    • Accounting in separate financial statements: accounting by the joint operator in its separate financial statements
    • Accounting by the joint operation: Accounting by the joint operation that is a separate vehicle in its financial statements
  • IFRS 10
    • Single-asset, single lessee lease vehicles and the assessment of control (when does the lender or lessee consolidate)
    • Control of a structured entity involving an operating lease
    • Control of a structured entity by a junior lender involving a finance lease
  • IAS 12
    • Selection of applicable tax rate for measurement of deferred tax relating to an investment in an associate
  • IAS 19
    • Should longevity swaps held under a defined benefit scheme be measured at fair value as part of a plan asset or on another basis as a 'qualifying insurance contract'

New issue

  • IFRIC 14
    • Should an entity assume continuation of a minimum funding requirement?

Items for continuing consideration

  • IFRS 5
    • Issues relating to the requirements for scope and presentation in IFRS 5

Administrative session: Work in progress

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

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