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Work in progress

Date recorded:

Work in progress (Agenda Paper 4)

There are two active projects the Committee is working on that were not discussed at this meeting, the recognition of deferred tax when a lessee recognises an asset and liability at the commencement of a lease; and possible amendments to IAS 37 to clarify the meaning of ‘unavoidable costs’ in the definition of an onerous contract.

The staff have also received two requests in relation to IAS 23 Borrowing Costs—whether IAS 23 requires the capitalisation of interest on expenditures made before general borrowings are incurred and whether borrowing costs incurred for the purchase of land during the construction of a building on that land are capitalised. The staff are undertaking outreach on these issues.


There was no discussion on that agenda point.


Correction list for hyphenation

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