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IAS 37 — Changes in decommissioning, restoration, and similar liabilities

Background

The IFRIC considered the accounting treatment of certain changes in decommissioning provisions. It considered the accounting treatment for the effect of changes in:

  • the discount rate as defined in paragraph 47 of IAS 37 Provisions, Contingent Liabilities and Contingent Assets and
  • estimated cash flows.

In particular, whether the effect of these changes should be capitalised or recognised in profit or loss.

 

Current status of the project

This project has been completed. IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities was issued on 27 May 2004.

 

Project milestones

DateDevelopmentComments
4 September 2003 Draft Interpretation D2 Changes in Decommissioning, Restoration and Similar Liabilities published Comments deadline 3 November 2003
27 May 2004 IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities issued Effective for annual periods beginning on or after 1 September 2004

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.