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Agenda for 1-3 November 2006 IFRIC meeting

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

23 Oct 2006

The International Financial Reporting Interpretations Committee will meet at the IASB's offices in London on Wednesday 1 November, Thursday 2 November, and Friday 3 November 2006. The tentative agenda for the meeting is shown below.

Note that the meeting begins on Wednesday afternoon 1 November, one day earlier than originally announced.

1-3 November 2006, London

Wednesday 1 November 2006 (afternoon only)

  • Draft Handbook on IFRIC Due Process – Review of responses

Thursday 2 November 2006

  • Opening remarks and administrative matters
  • IAS 18 Revenue
    • Real estate sales
    • Revenue recognition in respect of initial fees paid by a fund manager
  • Review of tentative agenda decisions published in July and September IFRIC Update
    • 1. IFRS 2 Share-based Payment – Fair value measurement of post-vesting transfer restrictions
    • 2. IAS 39 Financial Instruments: Recognition and Measurement – Valuation of electricity derivatives
    • 3. IAS 32 Financial Instruments: Presentation – Puts and forwards held by minority interests and
    • IFRS 3 Business Combinations: Are puts or forwards received by minority interests in a business combination contingent consideration?
    • 4. SIC-12 Consolidation of Special Purpose Entities – Relinquishment of control
    • 5. IAS 39 Financial Instruments: Recognition and Measurement – Definition of a derivative: indexation on own EBITDA or own revenue
    • 6. IAS 32 Financial Instruments: Presentation – Foreign currency instruments exchangeable into equity instruments of the parent entity of the issuer
    • 7. IAS 32 Financial Instruments: Presentation – Changes in the contractual terms of an equity instrument resulting in it being reclassified to financial liability
    • 8. IAS 1 Presentation of Financial Statements – Whether the liability component of a convertible instrument should be classified as current or non-current
    • 9. IFRS 2 Share-based Payment – Incremental fair value to employees as a result of unexpected capital
    • restructurings
    • 10. IAS 16 Property, Plant and Equipment – Revaluation of investment properties under construction
    • 11. IAS 32 Financial Instruments: Presentation – Classification of a financial instrument as liability or equity
    • 12. IFRS 2 Share-based Payment – Employee benefit trusts in the separate financial statements of the sponsor
    • 13. IFRS 7 Financial Instruments: Disclosures – Presentation of 'net finance costs' on the face of the income statement
    • 14. IAS 11 Construction Contracts – Allocation of profit in a single contract
    • 15. IAS 38 Intangible Assets – Classification and accounting for SIM cards
    • 16. IAS 38 Intangible Assets – Adoption of IAS 38 (revised 2004)
    • 17. IAS 39 Financial Instruments: Recognition and Measurement – Testing of hedge effectiveness on a cumulative basis

Friday 3 November 2006

  • Proposals for new IFRIC agenda items
    • IAS 41 Agriculture – Recognition and measurement of biological produce in accordance with IAS 41
    • IAS 21 The Effects of Changes in Foreign Exchange Rates – Hedging a net investment
    • IAS 38 Intangible – Treatment of catalogues and other advertising costs
  • Status reports
    • IAS 19 issues
    • Demergers and other in specie dividends
    • Derecognition
  • Recommendations not to take items onto the IFRIC agenda
    • IAS 39 Financial Instruments: Recognition and Measurement – Short trading
    • IAS 39 Financial Instruments: Recognition and Measurement/IAS 27 Consolidated and Separate Financial Statements – Financial instruments puttable at an amount other than fair value
    • IAS 19 Employee Benefits – 'Special wage tax'
  • Agenda Committee matters

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