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.

IFRIC 6 on waste management costs

  • IFRIC (International Financial Reporting Interpretations Committee) (blue) Image

01 Sep 2005

The International Financial Reporting Interpretations Committee (IFRIC) has issued IFRIC Interpretation 6 'Liabilities Arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment'.

The issue that IFRIC 6 addresses is if an entity has an obligation to contribute to the costs of disposing of waste equipment based on its share of the market in a measurement period, what is the event that gives rise to a liability:

  • the manufacture or sale of the equipment?
  • participation in the market during the measurement period?
  • the incurrence of costs in the performance of waste management activities?

IFRIC 6 concludes that the event that triggers liability recognition is participation in the market during the measurement period. The measurement period is a period in which market shares are determined for the purposes of allocating waste management costs.

IFRIC 6 is effective for financial periods beginning on or after 1 December 2005. Earlier application is encouraged. Click for:

 

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.