21 June 2017

June 2017 IFRIC Update published

The June 2017 IFRS Interpretations Committee Update (IFRIC Update) has been published.

View this IFRIC Update and previous Updates here.

Topics discussed at the June 2017 meeting:

Items on the current agenda

  • IFRS 9 Financial Instruments—Modification or exchange of financial liabilities that do not result in derecognition (Agenda Paper 6E)
  • IAS 23 Borrowing costs—Borrowing costs on completed qualifying assets (Agenda Paper 7)

Committee’s tentative agenda decisions

  • IFRS 3 Business Combinations—Acquisition of a group of assets that does not constitute a business (Agenda Paper 2)
  • IAS 28 Investments in Associates and Joint Ventures—Acquisition of an associate or joint venture from an entity under common control (Agenda Paper 8)
  • IAS 37 Provisions, Contingent Liabilities and Contingent Assets—Costs considered in assessing whether a contract is onerous (Agenda Paper 4)
  • IAS 38 Intangible Assets—Goods acquired for promotional activities (Agenda Paper 3)

Committee’s agenda decisions

  • IAS 19 Employee Benefits—Discount rate in a country that has adopted another country’s currency (Agenda Paper 6B)
  • IAS 32 Financial Instruments: Presentation—Centrally cleared client derivatives (Agenda Paper 6D)
  • IAS 33 Earnings per Share—Tax arising from payments on participating equity instruments (Agenda Paper 6C)
  • IAS 41 Agriculture—Biological assets growing on bearer plants (Agenda Paper 6A)

Other matters

  • IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors— Accounting policy changes resulting from agenda decisions (Agenda Paper 5)
  • Committee work in progress (Agenda Paper 9)
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