We comment on three IFRS Interpretations Committee tentative agenda decisions
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.
