IFRIC17 BV2009 - IFRIC 17 IFRIC Interpretation 17...

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IFRIC 17 IFRIC Interpretation 17 Distributions of Non-cash Assets to Owners 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. © IASCF 1
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IFRIC 17 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 2 © IASCF
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IFRIC 17 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 . © IASCF 3
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IFRIC 17 IFRIC Interpretation 17 Distributions of Non-cash Assets to Owners References IFRS 3 Business Combinations (as revised in 2008) IFRS 5 Non-current Assets Held for Sale and Discontinued Operations IFRS 7 Financial Instruments: Disclosures IAS 1 Presentation of Financial Statements (as revised in 2007) IAS 10 Events after the Reporting Period IAS 27 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. 2 International Financial Reporting Standards (IFRSs) do not provide guidance on how an entity should measure distributions to its owners (commonly referred to as dividends). IAS 1 requires an entity to present details of dividends recognised as distributions to owners either in the statement of changes in equity or in the notes to the financial statements. Scope 3 This Interpretation applies to the following types of non-reciprocal distributions of assets by an entity to its owners acting in their capacity as owners: (a) distributions of non-cash assets (eg items of property, plant and equipment, businesses as defined in IFRS 3, ownership interests in another entity or disposal groups as defined in IFRS 5); and (b) distributions that give owners a choice of receiving either non-cash assets or a cash alternative. 4
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IFRIC17 BV2009 - IFRIC 17 IFRIC Interpretation 17...

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