New BDO IFR Bulletin: IFRS Interpretations Committee – Agenda Decisions (November 2017)

This IFRB sets out the agenda decisions made by the IFRS Interpretations Committee at its November 2017 meeting

One decision was finalised on IFRS 3 Business Combinations and deals with transactions in which an entity acquires a group of assets that does not constitute a business.  In addition tentative decisions were made on:

• IFRS 9 Financial Instruments & IAS 1 Presentation of Financial Statements, which addresses the presentation of interest revenue for particular financial instruments
• IFRS 15 Revenue from Contracts with Customers, which addresses revenue recognition in a real estate contract that includes the transfer of land; and
• IFRS 15 Revenue from Contracts with Customers, which looks at whether an entity has a right to payment for performance to date for the purposes of determining if revenue can be recognised over time.

The IFRB is available from the BDO global web site here.