September 2018 IFRIC Update published

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

Topics discussed at the September 2018 meeting were:

Items on the current agenda

• Cloud computing arrangements (IAS 38)

Committee's Tentative Agenda Decisions

• Assessment of promised goods or services (IFRS 15)
• Application of the highly probable requirement when a specific derivative is designated as a hedging instrument (IFRS 9 and IAS 39)
• Deposits relating to taxes other than income tax (IAS 37)
• Investment in a subsidiary accounted for at cost: Partial Disposal (IAS 27)
• Investment in a subsidiary accounted for at cost: Step Acquisition (IAS 27)
• Liabilities in relation to a joint operators interest in a joint operation (IFRS 11)

Committee's Agenda Decisions

• Borrowing costs on land (IAS 23)
• Classification of a particular type of dual currency bond (IFRS 9)
• Determination of the exchange rate when there is a long term lack of exchangeability (IAS 21)
• Expenditures on a qualifying asset (IAS 23)

Other matters

• Accounting Policies and Accounting Estimates (IAS 8)
• Cryptocurrencies
• Committee work in progress

To view the agenda and agenda papers, please click here.