This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Only 11 of 31 SIC interpretations will remain in force

  • News default Image

08 Apr 2004

Of the 31 Interpretations published by the Standing Interpretations Committee (SIC) – which was replaced by the International Financial Reporting Interpretations Committee (IFRIC) in April 2001 – only the following 11 remain in effect as part of the body of standards that companies in Europe and elsewhere will adopt in 2005. The others have been superseded by either new IFRSs or revised IASs issued by the IASB.

The IFRIC has not yet issued any final interpretations.

The 11 remaining Interpretations are:

  • SIC-7 Introduction of the Euro
  • SIC-10 Government Assistance – No Specific Relation to Operating Activities
  • SIC-12 Consolidation – Special Purpose Entities
  • SIC-13 Jointly Controlled Entities – Non-Monetary Contributions by Venturers
  • SIC-15 Operating Leases – Incentives
  • SIC-21 Income Taxes – Recovery of Revalued Non-Depreciable Assets
  • SIC-25 Income Taxes – Changes in the Tax Status of an Enterprise or its Shareholders
  • SIC-27 Evaluating the Substance of Transactions in the Legal Form of a Lease
  • SIC-29 Disclosure – Service Concession Arrangements
  • SIC-31 Revenue – Barter Transactions Involving Advertising Services
  • SIC-32 Intangible Assets – Web Site Costs

 

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.