March 2021 IFRIC update available

The IFRS Interpretations Committee met on 16 March 2021. The meeting update is now available.

Committee’s tentative agenda decisions were on the following matters:

• Non-refundable Value Added Tax on Lease Payments (IFRS 16 Leases)
• Accounting for Warrants that are Classified as Financial Liabilities on Initial Recognition (IAS 32 Financial Instruments: Presentation)

The Committee tentatively decided not to add standard-setting projects to the work plan for the above matters. Comments on the tentative agenda decisions may be submitted by 24 May 2021.

Committee’s final agenda decision was on the following matter:

• Configuration or Customisation Costs in a Cloud Computing Arrangement (IAS 38 Intangible Assets): In accordance with the IFRS Foundation’s Due Process Handbook, the Board will consider this agenda decision at its April 2021 meeting. Subject to the Board not objecting, the agenda decision will be published in April 2021 in an addendum to this IFRIC Update.

The update may be accessed here.