Interpretations issued by the ‘IFRIC’/ ‘SIC’ included in Appendix to relevant ‘Ind AS’

List of Interpretations issued by the IFRS Interpretations Committee (IFRIC)/ Standards Interpretations Committee (SIC) included in Appendix to relevant Indian Accounting Standards (Ind AS)

Corresponding Appendix of Ind AS IFRIC/ SIC Subject
1 IFRIC 1 Ind AS 16 (Appendix A) Changes in Existing Decommissioning, Restoration and Similar Liabilities
2 IFRIC 2 None Members’ Shares in Co-operative Entities and Similar Instruments [Appendix corresponding to IFRIC 2 is not issued as it is not relevant for the
3 IFRIC  4 Ind AS 17 (Appendix C) Determining whether an Arrangement contains a Lease
4 IFRIC  5 Ind AS 37 (Appendix A) Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
5 IFRIC  6 Ind AS 37 (Appendix B) Liabilities arising from Participating in a Specific Market – Waste Electrical and Electronic Equipment
6 IFRIC  7 Ind AS 29 (Appendix A) Applying the Restatement Approach under Ind AS 29 Financial Reporting in Hyperinflationary Economies
7 IFRIC  10 Ind AS 34 (Appendix A) Interim Financial Reporting and Impairment
8 IFRIC  12 Ind AS 11 (Appendix A) Service Concession Arrangements
9 IFRIC 13 Ind AS 18 (Appendix B) Customer Loyalty Programmes
10 IFRIC  14 Ind AS 19 (Appendix B) The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction
11 IFRIC  16 Ind AS 109 (Appendix C) Hedges of a Net Investment in a Foreign Operation
12 IFRIC 17 Ind AS 10 (Appendix A) Distributions of Non-cash Assets to Owners
13 IFRIC 18 Ind AS 18 (Appendix C) Transfer of Assets from Customers
14 IFRIC 19 Ind AS 109 (Appendix D) Extinguishing Financial Liabilities with Equity Instruments
15 IFRIC 20 Ind AS 16 (Appendix B) Stripping Cost in the Production Phase of a Surface Mine
16 IFRIC 21 Ind AS 37 (Appendix C) Levi
17 SIC-7 None Introduction of Euro [Appendix corresponding to SIC 7 is not issued as it is not relevant in the
Indian context].
18 SIC-10 Ind AS 20 (Appendix A) Government Assistance – No   Specific Relation to Operating Activities
19 SIC-15 Ind AS 17 (Appendix A) Operating Leases – Incentives
20 SIC-25 Ind AS 12 (Appendix A) Income Taxes – Changes in the Tax Status of an Entity or its Shareholders
21 SIC-27 Ind AS 17 (Appendix B) Evaluating the Substance of Transactions Involving the Legal Form of a Lease
22 SIC-29 Ind AS 11 (Appendix B) Service Concession Arrangements: Disclosures
23 SIC-31 Ind AS 18 (Appendix A) Revenue – Barter Transactions Involving Advertising Services
24 SIC-32 Ind AS 38 (Appendix A) Intangible Assets – Web Site Costs

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All About ‘Ind AS’ (Converged ‘Indian Accounting Standards’)

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