January IFRS Interpretations Committee Update available
29 January 2020
The January 2020 IFRIC update has been published. The committee finalised one agenda decision on definition of a lease – shipping contracts (IFRS 16). The agenda decision clarifies how an entity assesses whether it has the right to direct the use of an asset, which is one of the conditions required for a contract to meet the definition of a lease.
The IFRIC update can be accessed here.