On or about 24 June 2019. the IFRS Interpretations Committee (Committee) has published a webcast discussing a March 2019 agenda decision on “over time transfer of a constructed good”.
The agenda decision responds to a question received about the application of IAS 23 Borrowing Costs to the construction of a multi-unit housing development. It explains the reasons of the Committee’s conclusions that, in the specific fact pattern discussed, IFRS Standards provide an adequate basis to determine whether to capitalise borrowing costs.
The webcast explains the conclusions reached by the Committee and discusses the application of IAS 23 and its interaction with IFRS 15 Revenue from Contracts with Customers in the context of the agenda decision.
The Committee responds to questions from stakeholders about the application of IFRS Standards by publishing agenda decisions with explanatory material or by developing interpretations (called IFRIC Interpretations) or amendments to the Standards.
The webcast can be viewed at the IFRS website.
Source: IFRS website, 24 June 2019