May 2015 IFRS Interpretations Committee meeting notes posted — part 1
15 May 2015
The IFRS Interpretations Committee met in London on 12 May 2015. We've posted the Deloitte observer notes for the sessions on IAS 16, IAS 21, IFRS 10, and IFRS 13.
The following topics were discussed at the meeting (click the links to access detailed Deloitte observer notes for each topic):
12 May 2015
Items for continuing consideration
- IAS 21 — Draft interpretation on foreign currency transactions and advance consideration — sweep issue
- IAS 16 — Accounting for proceeds and costs of testing of PPE: should net proceeds reduce the cost of asset
- IFRS 13 — Fair value hierarchy: additional information gathering relating to the agenda decision regarding circumstances in which prices provided by third parties (especially consensus prices) qualify as a Level 1 input in the fair value hierarchy in IFRS 13 Fair Value Measurement
- IFRS 10 — Single-asset, single-lessee lease vehicles and the assessment of control under IFRS 10
The preliminary and unofficial notes taken by Deloitte observers for the entire meeting are also available.
