Notes from the first day of the January IFRS Interpretations Committee meeting
24 Jan 2013
IFRS Interpretations Committee held its meeting in London on 22-23 January 2013. Deloitte observer notes from the first day of the meeting are now available.
The topics discussed on the first day of the meeting were as follows (click through to access detailed Deloitte observer notes for each topic):
Tuesday, 22 January 2013 (09:00-17:10)
Review of Tentative Agenda Decisions published in September IFRIC Update
- IFRS 3 Business Combinations — Continuing employment
- IAS 27 Separate Financial Statements — Non-cash acquisition of non-controlling interest
- IAS 28 Investments in Associates and Joint Ventures — Impairment of investments in associates in separate financial statements
- IAS 39 Financial Instruments: Recognition and Measurement — Negative interest rates
Items for continuing consideration
- IAS 19 Employee Benefits — Measurement of the net DBO for post employee benefit plans with employee contributions
- IAS 19 Employee Benefits — Determination of discount rate
- IAS 10 Events after the Reporting Period — Reissue of financial statements
- IAS 40 Investment Property — Accounting for a structure that appears to lack the physical characteristics of a building
Active Committee Projects
- IAS 16 Property, Plant and Equipment, IAS 38 Intangible Assets, and IFRIC 12 Service Concession Arrangements — Variable payments for the separate acquisition of PPE and intangible assets
- IAS 1 Presentation of Financial Statements — Disclosures requirements about assessment of going concern
Notes from the final session on day one, discussing the timing of the recognition of intercompany charges under IFRS 2, will be posted soon. In addition, the following items included on the initial agenda were not discussed, and will be considered at a future meeting:
- IAS 7 Statement of Cash Flows — Definitions of operating, financing and investing
- IAS 7 Statement of Cash Flows — Classification of interest paid that is capitalised as part of the cost of an asset
Click here to go to the preliminary and unofficial notes taken by Deloitte observers for the entire meeting.