51 paragraphs found in INT 21
AASB 101 Presentation of Financial Statements AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors AASB 112 Income Taxes AASB 120 Accounting for Government Grants and Disclosures of Government Assistance AASB 124 Related …
A government may impose a levy on an entity. The IFRS Interpretations Committee received requests for guidance on the accounting for levies in the financial statements of the entity that is paying the levy. The question relates to when to recognise a …
The Interpretations Committee noted that IAS 37 does not apply to executory contracts unless they are onerous, so the Interpretations Committee decided that this Interpretation should therefore not apply to executory contracts unless they are …
The Interpretations Committee decided that, for the purposes of this Interpretation, a levy is an outflow of resources embodying economic benefits that is imposed by governments on entities in accordance with legislation (ie laws and/or regulations), …
The Interpretations Committee noted that a payment made by an entity for the acquisition of an asset, or for the rendering of services under a contractual agreement with a government, does not meet the definition of a levy. For the purposes of this …
The Interpretations Committee decided that this Interpretation should not address the accounting for fines and other penalties. Fines and penalties are paid as a consequence of the breach of laws and/or regulations, whereas levies are paid as a …
The Interpretations Committee decided that an entity should not be required to apply this Interpretation to liabilities that arise from emissions trading schemes. The IASB decided in 2011 to add a project on this topic to its research agenda. The …
The Interpretations Committee decided not to withdraw IFRIC 6 because it provides useful information on the accounting for liabilities within its scope. The Interpretations Committee noted that the consensus in IFRIC 6 is consistent with the consensus in …
The Interpretations Committee decided that this Interpretation should provide guidance on applying IAS 37 to a liability to pay a levy and should not address the accounting for the costs arising from recognising the liability to pay a levy. The …
According to the definition in paragraph 10 of IAS 37, an obligating event is an event that creates a legal or constructive obligation that results in an entity having no realistic alternative to settling the obligation. According to paragraph 14(a) of …