IFRIC will meet in London 25-26 November

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22 Nov 2002

The International Financial Reporting Interpretations Committee (IFRIC) will meet at the IASB's offices in London on 25 and 26 November 2002 to discuss the following issues: Decommissioning and rehabilitation funds: accounting by the contributor. Emission rights: does an emission rights scheme give rise to a net asset or liability or a separate asset and liability; if a separate asset and liability are recognised, what are their natures. Hyperinflation: IFRIC will discuss conceptual and practical issues in relation to IAS 29, Financial Reporting in Hyperinflationary Economies.

IFRIC intends to submit its views to the Board for it to consider in the Improvements and Convergence Projects.
  • IAS 19–money purchase plan with guaranteed minimum: application of IAS 19 to plans that would be defined contribution plans but for the existence of a minimum return guarantee.
  • IAS 19–multi-employer plan exemption: possible guidance on when the exemptions in IAS 19 from defined benefit accounting for multi-employer plans are available.
  • IAS 37–changes in decommissioning charges: should the effect of changes in the discount rate and estimated cash flows be capitalised or recognised in profit or loss.
  • Possible amendment to SIC 12, Consolidation–Special Purpose Entities: to clarify the meaning of a "majority" of benefits and risks in SIC 12.10(c) and (d).
  • Rights of use: whether to account for such contracts as leases.
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