91 paragraphs found in INT 2
The IFRIC considered whether its Interpretation should have the same transition and effective date as IAS 32, or whether a later effective date should apply with an exemption from IAS 32 for members’ shares in the interim. Some co-operatives may wish to …
After considering a number of alternatives, the IFRIC decided against any exemption from the transition requirements and effective date in IAS 32. In reaching this conclusion, the IFRIC noted that it was requested to provide guidance on the application of …
This Basis for Conclusions summarises the IFRIC’s considerations in reaching its consensus. Individual IFRIC members gave greater weight to some factors than to …
In September 2001, the Standing Interpretations Committee instituted by the former International Accounting Standards Committee (IASC) published Draft Interpretation SIC D-34 Financial Instruments – Instruments or Rights Redeemable by the Holder. The …
In 2001 the International Accounting Standards Board (IASB) began operations in succession to IASC. The IASB’s initial agenda included a project to make limited amendments to the financial instruments standards issued by IASC. The IASB decided to …
In their responses to the Exposure Draft and in their participation in public round-table discussions held in March 2003, representatives of co-operative banks raised questions about the application of the principles in IAS 32 to members’ shares. This was …
In considering the application of IAS 32 to co-operative entities, the IFRIC recognised that a variety of entities operate as co-operatives and these entities have a variety of capital structures. The IFRIC decided that its proposed Interpretation should …
Paragraph 15 of IAS 32 states: The issuer of a financial instrument shall classify the instrument, or its component parts, on initial recognition as a financial liability, a financial asset or an equity instrument in accordance with the substance of the …
In many jurisdictions, local law or regulations state that members’ shares are equity of the entity. However, paragraph 17 of IAS 32 states: With the exception of the circumstances described in paragraphs 16A and 16B or paragraphs 16C and 16D, a critical …