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We comment on three IFRS Interpretations Committee tentative agenda decisions

  • Deloitte document (mid gray) Image

21 Aug 2018

We have published our comment letters on IFRS Interpretations Committee tentative agenda decisions related to IAS 21 and IAS 23, as published in the June 2018 IFRIC Update.

More information about the issues is set out below:

Issue

Agenda decision supported?

More information

IAS 21 — Determination of the exchange rate when there is a long-term lack of exchangeability

Yes; however, we believe that to address the facts that (as stated in the tentative agenda decision) economic conditions are constantly evolving and that different conditions exist in different jurisdictions this research should not focus solely on the current situation in Venezuela

IAS 23 — Expenditures on a qualifying asset

Yes; however, we believe that the value of the tentative agenda decision could be enhanced by elaborating on the statement that “the entity does not disregard expenditures on the qualifying asset incurred before the entity obtains the general borrowings”

IAS 23 — Borrowing costs on land

Yes

Click to access all our comment letters to the IASB, IFRS Foundation, and IFRS Interpretations Committee.

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.