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SIC revises its proposed Interpretation on website costs

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04 Mar 2002

At its meeting on 26-27 February 2002, the SIC approved a proposed final Interpretation, SIC-32, Intangible Assets - Website Costs.

The principal revision from the draft that was discussed but remanded by the IASB in December 2001 is that initial graphic design costs would be included in the capitalisable costs of developing a website. The revised draft will be resubmitted to the Board for approval. SIC also agreed to consider at its next meeting the following possible agenda projects:
  • Classification of Financial Instruments with Distributions at the Discretion of the Issuer
  • Employee Benefits - Limit on Recognition of an Asset Under IAS 19.58(b)(ii)
  • Employee Benefits - Changes in Employment Benefits and Actuarial Assumptions
  • Non-Cash Dividends (measure at fair value or carrying amount)
  • Revenue Presentation - Gross vs. Net
  • Revenue Recognition - Specified Trade-In Rights and Loyalty Programmes

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