22 September 2017

September 2017 IFRIC Update published

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

View this IFRIC Update and previous Updates here.

Topics discussed at the September 2017 meeting:

Items on the current agenda

  • IAS 28 Investments in Associates and Joint Ventures—Acquisition of an associate or joint venture from an entity under common control (Agenda Paper 5F)
  • IAS 37 Provisions, Contingent Liabilities and Contingent Assets—Costs considered in assessing whether a contract is onerous (Agenda Paper 5D)

Item recommended to the Board for Annual Improvements

  • IAS 41 Agriculture—Taxation in fair value measurements (Agenda Paper 3)

Committee’s tentative agenda decisions

  • IFRS 15 Revenue from Contracts with Customers—Revenue recognition in a real estate contract (Agenda Paper 2)
  • IAS 28 Investments in Associates and Joint Ventures—Contributing property, plant and equipment to an associate (Agenda Paper 4)

Committee’s agenda decisions

  • IFRS 1 First-time Adoption of International Financial Reporting Standards—Subsidiary as a first-time adopter (Agenda Paper 5C)
  • IFRS 9 Financial Instruments—Financial assets eligible for the election to present changes in fair value in other comprehensive income (Agenda Paper 5A)
  • IAS 12 Income Taxes—Interest and penalties related to income taxes (Agenda Paper 5B)
  • IAS 38 Intangible Assets—Goods acquired for promotional activities (Agenda Paper 5E)

Other matters

  • Committee work in progress (Agenda Paper 6)
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