ifric5 - IFRIC 5 IFRIC Interpretation 5 Rights to Interests...

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IFRIC 5 © IASCF A1019 IFRIC Interpretation 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds This version includes amendments resulting from IFRSs issued up to 31 December 2009. IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds was developed by the International Financial Reporting Interpretations Committee and issued by the International Accounting Standards Board in December 2004. The Basis for Conclusions was amended to reflect: the revision of IAS 1 Presentation of Financial Statements in September 2007 the issue of IFRS 9 Financial Instruments in November 2009. * * effective date 1 January 2013 (earlier application permitted)
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IFRIC 5 A1020 © IASCF C ONTENTS paragraphs IFRIC INTERPRETATION 5 RIGHTS TO INTERESTS ARISING FROM DECOMMISSIONING, RESTORATION AND ENVIRONMENTAL REHABILITATION FUNDS REFERENCES BACKGROUND 1–3 SCOPE 4–5 ISSUES 6 CONSENSUS 7–13 Accounting for an interest in a fund 7–9 Accounting for obligations to make additional contributions 10 Disclosure 11–13 EFFECTIVE DATE 14 TRANSITION 15 APPENDIX Amendment to IAS 39 Financial Instruments: Recognition and Measurement BASIS FOR CONCLUSIONS FOR THE ACCOMPANYING DOCUMENT BELOW, SEE PART B OF THIS EDITION
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IFRIC 5 © IASCF A1021 IFRIC Interpretation 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds (IFRIC 5) is set out in paragraphs 1–15 and the Appendix. IFRIC 5 is accompanied by a Basis for Conclusions. The scope and authority of Interpretations are set out in paragraphs 2 and 7–17 of the Preface to International Financial Reporting Standards .
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IFRIC 5 A1022 © IASCF IFRIC Interpretation 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds References •I A S 8 Accounting Policies, Changes in Accounting Estimates and Errors •I A S 2 7 Consolidated and Separate Financial Statements •I A S 2 8 Investments in Associates •I A S 3 1 Interests in Joint Ventures •I A S 3 7 Provisions, Contingent Liabilities and Contingent Assets •I A S 3 9 Financial Instruments: Recognition and Measurement (as revised in 2003) •S I C - 1 2 Consolidation—Special Purpose Entities (as revised in 2004) Background 1 The purpose of decommissioning, restoration and environmental rehabilitation funds, hereafter referred to as ‘decommissioning funds’ or ‘funds’, is to segregate assets to fund some or all of the costs of decommissioning plant (such as a nuclear plant) or certain equipment (such as cars), or in undertaking environmental
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ifric5 - IFRIC 5 IFRIC Interpretation 5 Rights to Interests...

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