IFRIC podcast July 2011

Robert Garnett and Michael Stewart give an overview of the issues discussed during the July 2011 IFRS Interpretations Committee meeting, including consideration of when to recognise a liability (and associated charge) for levies (IAS 37 Provisions, Contingent Liabilities and Contingent Assets), determining when the purchase of an investment property is a business combination (IFRS 3 Business Combinations and IAS 40 Investment Property), consideration of how to account for the acquisition of an interest in a joint operation where that joint operation carries on a business (IFRS 11 Joint Arrangements) and a discussion of concerns relating to the aggregation of operating segments and the identification of the Chief Operating Decision Maker in the context of segment disclosures (IFRS 8 Operating Segments).