At the meeting in June 2018, the Committee decided to research possible narrow-scope standard-setting on the exchange rate of a reporting entity when it translates the results and financial position of a foreign operation into its presentation currency and the spot exchange rate is not observable. The Committee will discuss this matter at a future meeting.

The staff have also received three requests in relation to (i) IFRS 9 Financial Instruments about the physical settlement of a contract to buy or sell a non-financial item that is within the scope of IFRS 9; (ii) IFRS 11 Joint Arrangements about the difference between a joint operator's right to receive a particular proportion of output and the actual output received and (iii) IAS 23 Borrowing Costs about the capitalisation of borrowing costs on assets being developed for sale for which revenue is recognised over time. The staff are in the process of analysing these matters.

Discussion

There was no discussion on these agenda points.