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The international financial reporting interpretations committee (IFRIC) of the International Accounting Standards Board (IASB) released IFRIC Interpretation 1.


The international financial reporting interpretations committee (IFRIC IFRIC International Financial Reporting Interpretations Committee
IFRIC International Financial Reporting Issues Committee
) of the International Accounting Standards Board An editor has expressed concern that this article or section is .
Please help improve the article by adding information and sources on neglected viewpoints, or by summarizing and
 (IASB IASB

See International Accounting Standards Board (IASB).
) released IFRIC Interpretation 1, Changes in Existing Decommissioning Decommissioning is a general term for a formal process to remove something from operational status. Some specific instances include:
  • Ship decommissioning
See also:
, Restoration and Similar Liabilities (www.iasb.org/news), containing guidance on modifications recognized as part of costs discussed in IAS 16, Property, Plant and Equipment, and also as a liability in accordance with IAS 37, Provisions, Contingent Liabilities and Contingent Assets. The interpretation can be ordered at www.iasb.org/resources/shop.asp.
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Title Annotation:International
Publication:Journal of Accountancy
Date:Aug 1, 2004
Words:75
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