December IFRIC update available

The IFRIC update summarising the activities of the IFRIC arising from the December 2020 meeting is now available. The topics discussed were as follows:

Committee’s tentative agenda decisions

• Attributing Benefit to Periods of Service (IAS 19)
• Classification of Debt with Covenants as Current or Non-current (IAS 1)
• Configuration or Customisation Costs in a Cloud Computing Arrangement (IAS 38)
• Hedging Variability in Cash Flows due to Real Interest Rates (IFRS 9)

Committee’s agenda decisions

• Supply Chain Financing Arrangements—Reverse Factoring

Other matters

• Work in Progress

The update may be accessed here.