IFRS® Discussion Group Meeting – December 12, 2019

Meeting Details


December 12, 2019


9:00 am to 3:00 pm ET


CPA Canada, Ontario and Quebec Room (9th Floor)
277 Wellington Street West
Toronto ON M5V 3H2

Staff Contact(s)

Sean Wang, CPA, CA, CFA

Principal, Accounting Standards Board

Register as an In-person Observer

Register to observe the meeting in person!

Register to observe via Livestream

If you’re not in Toronto, observe the meeting via
livestream from the comfort of your home or office.

Review the Guidelines for Observers for in-person or livestreaming upon registration


The topics the IFRS® Discussion Group plans to consider, in addition to routine updates, are outlined below. Although current at the date prepared (November 6, 2019), this agenda is subject to change. The topics presented below may be discussed by the Group in a different order.

IFRS 16 and IAS 16: Lease Term and Useful life of Leasehold Improvements

IFRS 16: Application of Definition of Lease to a Surface Right 

  • Consider an arrangement between a landowner and a customer that allows the customer to place a specified number of wind turbines and associated infrastructure on a plot of land. Discuss whether this contract contains a lease under IFRS 16 Leases.

IFRS 15, IFRS 16 and IAS 2: Impacts of IFRS 16 on Inventory Costing and Revenue Recognition

  • Discuss the impacts of IFRS 16 Leases on inventory costing under IAS 2 Inventories and the measurement of the stage of progress using an input method for over-time revenue recognition under IFRS 15 Revenue from Contracts with Customers.

IAS 19 and IAS 34: Pension Remeasurement for Significant Market Fluctuations during an Interim Period

  • Consider a scenario where significant market fluctuations occurred during an entity’s interim reporting period. Discuss whether the entity is required to:
    • remeasure the net defined benefit liability (asset); and
    • update underlying assumptions to calculate current service cost and net interest to reflect current market conditions. 

IFRS 3 and IAS 12: Deferred Tax on Goodwill in a Business Combination

  • Consider a scenario where an entity with tax-deductible goodwill is acquired by another entity in a business combination. The resulting goodwill from the business combination is itself not tax deductible but the tax basis of the pre-existing goodwill survives. Discuss the accounting for the deferred tax on the goodwill in this business combination.

IAS 36: Climate Change and Asset Impairment

  • Discuss accounting implications arising from climate change such as its effects on the recoverable amount calculation used in the asset impairment assessment under IAS 36 Impairment of Assets.

IAS 32: Classification of Limited Partnership Units

  • Consider a partnership structure where the unit distribution to the General Partner is greater than its ownership interests. Discuss whether a portion of the unit distribution is in-substance fees for services warranting a separate unit of account.

IAS 19: Long-term Bonus Plans Contingent on Future Events or Performance

  • Discuss how to incorporate contingencies for uncertain future events into the recognition and measurement of long-term bonus plans.

International Accounting Standards Board’s 2020 Agenda Consultation

  • Provide initial feedback on the topics to be included in the IASB’s 2020 Agenda Consultation.

For CPAs

This meeting may be eligible for Continuing Professional Development (CPD) hours. We encourage you to connect with your CPA provincial body regarding potential CPD hours.


For observers tuning in from Western Canada—You will not have to wake up early to watch! The livestream feed will be recorded on the spot. The video recording will be available for you to watch the next day after the meeting, and will remain accessible for one week. Afterwards, the archived audio recording of the full discussions will be available on our website.