29 November 2017

November 2017 IFRIC Update published

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

Topics discussed at the November 2017 meeting:

Items on the current agenda

  • Subsidiary as a First-time Adopter (IFRS 1 First-time Adoption of International Financial Reporting Standards)—Agenda Paper 6
  • Costs Considered in Assessing Whether a Contract is Onerous (IAS 37 Provisions, Contingent Liabilities and Contingent Assets)—Agenda Paper 5

Committee’s tentative agenda decisions

  • Presentation of Interest Revenue for Particular Financial Instruments (IFRS 9 Financial Instrumentsand IAS 1 Presentation of Financial Statements)—Agenda Paper 3
  • Revenue Recognition in a Real Estate Contract that Includes the Transfer of Land (IFRS 15 Revenue from Contracts with Customers)—Agenda Paper 2A
  • Right to Payment for Performance Completed to Date (IFRS 15 Revenue from Contracts with Customers)—Agenda Paper 2B

Committee’s agenda decisions

  • Acquisition of a Group of Assets (IFRS 3 Business Combinations)—Agenda Paper 4

Other matters

  • Committee work in progress—Agenda Paper 7
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