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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