IFRIC Update November 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 on 26 November 2019, and discussed:

Committee's tentative agenda decisions

  • Player Transfer Payments (IAS 38 Intangible Assets)–Agenda Paper 6
  • Multiple Tax Consequences of Recovering an Asset (IAS 12 Income Taxes)–Agenda Paper 7

Committee's agenda decisions

  • Lease Term and Useful Life of Leasehold Improvements (IFRS 16 Leases and IAS 16 Property, Plant and Equipment)–Agenda Paper 4

Items on the current agenda

  • Sale and Leaseback with Variable Payments (IFRS 16 Leases)–Agenda Paper 5

Other matters

  • 2020 Agenda Consultation–Agenda Papers 2–2D
  • Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12–Agenda Paper 3
  • Work in Progress–Agenda Paper 8

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

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