2019 - March
In November 2018, IFRIC issued a Tentative Agenda Decision whereby capitalisation of borrowing costs is not allowed under specified fact pattern – property developers that recognise revenue over time.
Comments were sought and ISCA submitted its comment letter to IFRIC. ISCA also issued a tech bite to raise awareness of this tentative agenda decision.
IFRIC discussed this at their March 2019 IFRIC meeting and issued the finalised agenda decision in March 2019.
The finalised agenda decision is consistent with the tentative agenda decision.
IFRIC also stated that an entity is entitled to sufficient time in determining the potential change in accounting policy as a result of an agenda decision.
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