Notes from the IFRIC meeting on 4 February
06 Feb 2003
The International Financial Reporting Interpretations Committee (IFRIC) met on 4 February 2003. Our unofficial notes of the meeting are as follows.
Notes from the IFRIC Meeting4 February 2003 |
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Administrative Ken Wild and Jeannot Blanchet were welcomed to their first IFRIC meeting. Norman Lyle attended as alternate to Clement Kwok. Rights of Use The IFRIC continued its discussion of determining when a contract that gives an entity the right to use an asset should be accounted for as a lease. The staff proposed that in assessing whether a lease had arisen all of the following criteria should be present:
This summary is based on notes taken by observers at the IFRIC meeting and should not be regarded as an official or final summary. |