23 March 2018

March 2018 IFRIC Update published

The March 2018 IFRS Interpretations Committee Update (IFRIC Update) has been published.

View this IFRIC Update and previous Updates here.

Topics discussed at the March 2018 meeting:

Items on the current agenda

  • Deferred tax – tax base of assets and liabilities (IAS 12 Income Taxes) —Agenda Paper 4
  • Costs considered in assessing whether a contract is onerous (IAS 37 Provisions, Contingent Liabilities and Contingent Assets)—Agenda Paper 5
  • Payments relating to taxes other than income tax (IAS 37 Provisions, Contingent Liabilities and Contingent Assets)—Agenda Paper 7

Committee’s tentative agenda decisions

  • Classification of a particular type of dual currency bond (IFRS 9 Financial Instruments)—Agenda Paper 8
  • Hedge accounting with load following swaps (IFRS 9 Financial Instruments and IAS 39 Financial Instruments—Recognition and Measurement)—Agenda Paper 9
  • Classification of short-term loans and credit facilities (IAS 7 Statement of Cash Flows)—Agenda Paper 6

Committee’s agenda decisions

  • Presentation of interest revenue for particular financial instruments (IFRS 9 Financial Instruments and IAS 1 Presentation of Financial Statements)—Agenda Paper 3
  • Revenue recognition in a real estate contract (IFRS 15 Revenue from Contracts with Customers)—Agenda Paper 2C
  • Revenue recognition in a real estate contract that includes the transfer of land (IFRS 15 Revenue from Contracts with Customers)—Agenda Paper 2D
  • Right to payment for performance completed to date (IFRS 15 Revenue from Contracts with Customers)—Agenda Paper 2E

Other matters

  • Responding to questions submitted—Agenda Paper 2B
  • Committee work in progress—Agenda Paper 10
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