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

View this IFRIC Update and previous Updates.

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)