International Accounting Standards Board: Developments in IFRS

Robert Garnett and Michael Stewart give an overview of the issues discussed during the July 2010 IFRS Interpretations Committee meeting including accounting for waste removal costs of a surface mine, vesting and non-vesting conditions of share-based payments, accounting for put options written over non-controlling interests, amending the hard-wired dates in IFRS 1, reporting in accordance with IFRSs after a period of chronic hyperinflation and looking forward—Accounting for statutory profit sharing arrangements.