Deloitte comment letter on tentative agenda decision on IAS 38 — Goods acquired for promotional activities

Published on: 21 Aug 2017

We have commented on the IFRS In­ter­pre­ta­tions Committee's pub­li­ca­tion in the June 2017 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clar­i­fi­ca­tion on the accounting for goods distributed as part of promotional activities.

We agree with the IFRS In­ter­pre­ta­tions Committee's decision not to add this item onto its agenda for the reasons set out in the tentative agenda decision. However, we do not agree with the assertion in the tentative agenda decision that the transaction described is within the scope of IAS 38 and, therefore, that such items should necessarily be recognized as an expense when the entity has a right to access the goods.

Download the full comment letter below.


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.