IFRIC Update March 2019

IFRIC Update is a summary of the decisions reached by the IFRS Interpretations Committee (Committee) in its public meetings.

Decisions on an IFRIC Interpretation become final only after the Committee has taken a formal vote. IFRIC Interpretations require ratification by the International Accounting Standards Board (Board).

The Committee met in London on 5–6 March 2019, and discussed:

Committee's tentative agenda decisions

  • Holdings of Cryptocurrencies–Agenda Paper 4
  • Costs to Fulfil a Contract (IFRS 15 Revenue from Contracts with Customers)–Agenda Paper 2
  • Subsurface Rights (IFRS 16 Leases)–Agenda Paper 5
  • Effect of a Potential Discount on Plan Classification (IAS 19 Employee Benefits)–Agenda Paper 6

Committee's agenda decisions

  • Application of the Highly Probable Requirement when a Specific Derivative is Designated as a Hedging Instrument (IFRS 9 Financial Instruments and IAS 39 Financial instruments: Recognition and Measurement)–Agenda Paper 10
  • Physical Settlement of Contracts to Buy or Sell a Non-financial Item (IFRS 9 Financial Instruments)–Agenda Paper 11
  • Credit Enhancement in the Measurement of Expected Credit Losses (IFRS 9 Financial Instruments)–Agenda Paper 12
  • Curing of a Credit-impaired Financial Asset (IFRS 9 Financial Instruments)–Agenda Paper 13
  • Sale of Output by a Joint Operator (IFRS 11 Joint Arrangements)–Agenda Paper 8
  • Liabilities in relation to a Joint Operator's Interest in a Joint Operation (IFRS 11 Joint Arrangements)–Agenda Paper 9
  • Over Time Transfer of Constructed Good (IAS 23 Borrowing Costs)–Agenda Paper 3
  • Customer's Right to Receive Access to the Supplier's Software Hosted on the Cloud (IAS 38 Intangible Assets)–Agenda Paper 7

Other matters

  • Committee Work in Progress–Agenda Paper 14

Click here to access IASPlus for an overview which summarises the IFRS Interpretations Committee decisions.

Click here to access the IFRIC March 2019 Update on the IFRS site.