Ifric17 - IFRIC 17 IFRIC Interpretation 17 Distributions of Non-cash Assets to Owners This version includes amendments resulting from IFRSs issued

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IFRIC 17 © IASCF A1103 IFRIC Interpretation 17 Distributions of Non-cash Assets to Owners This version includes amendments resulting from IFRSs issued up to 31 December 2009. IFRIC 17 Distributions of Non-cash Assets to Owners was developed by the International Financial Reporting Interpretation Committee and issued by the International Accounting Standards Board in November 2008. Its effective date is 1 July 2009. The Basis for Conclusions on IFRIC 17 has been amended to reflect the issue of IFRS 9 Financial Instruments in November 2009.
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IFRIC 17 A1104 © IASCF C ONTENTS paragraphs IFRIC INTERPRETATION 17 DISTRIBUTIONS OF NON-CASH ASSETS TO OWNERS REFERENCES BACKGROUND 1–2 SCOPE 3–8 ISSUES 9 CONSENSUS 10–17 When to recognise a dividend payable 10 Measurement of a dividend payable 11–13 Accounting for any difference between the carrying amount of the assets distributed and the carrying amount of the dividend payable when an entity settles the dividend payable 14 Presentation and disclosures 15–17 EFFECTIVE DATE 18 APPENDIX ILLUSTRATIVE EXAMPLES BASIS FOR CONCLUSIONS FOR THE ACCOMPANYING DOCUMENTS LISTED BELOW, SEE PART B OF THIS EDITION
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IFRIC 17 © IASCF A1105 IFRIC Interpretation 17 Distributions of Non-cash Assets to Owners (IFRIC 17) is set out in paragraphs 1–18 and the Appendix. IFRIC 17 is accompanied by illustrative examples and 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 17 A1106 © IASCF I FRIC Interpretation 17 Distributions of Non-cash Assets to Owners References •I F R S 3 Business Combinations (as revised in 2008) F R S 5 Non-current Assets Held for Sale and Discontinued Operations F R S 7 Financial Instruments: Disclosures A S 1 Presentation of Financial Statements (as revised in 2007) A S 1 0 Events after the Reporting Period A S 2 7 Consolidated and Separate Financial Statements (as amended in May 2008) Background 1 Sometimes an entity distributes assets other than cash (non-cash assets) as dividends to its owners * acting in their capacity as owners. In those situations, an entity may also give its owners a choice of receiving either non-cash assets or a cash alternative. The IFRIC received requests for guidance on how an entity should account for such distributions.
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This note was uploaded on 02/26/2011 for the course ACCOUNTING 310 taught by Professor Cruz during the Spring '11 term at Xavier - Ateneo de Cagayan.

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Ifric17 - IFRIC 17 IFRIC Interpretation 17 Distributions of Non-cash Assets to Owners This version includes amendments resulting from IFRSs issued

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