January 26, 2022


Accounting + Finance Blog

List of Current SIC and IFRIC Interpretations

List of Current SIC and IFRIC Interpretations

In this article, the current list of Standard Interpretation Committee (SIC) interpretations is made available. Also, all the International Financial Reporting Interpretation Committee (IFRIC) are listed. There are 33 IFRIC interactions. Some of which had been superseded or withdrawn.

This interpretation is made to provide a better understanding of a relevant IFRS standard. Why? Accounting standards generally statement. The interpretation explains specific areas of the statement in a more practical way.

List of SIC Interpretations

7Introduction of the Euro1998
10Government Assistance - No Specific Relation to Operating Activities1998
25Income Taxes—Changes in the Tax Status of an Entity or its Shareholders2000
29Service Concession Arrangements: Disclosures2021
32Intangible Assets - Web Site Costs2021

List of IFRIC Interpretations

1Changes in Existing Decommissioning, Restoration and Similar Liabilities2004
2Members' Shares in Co-operative Entities and Similar Instruments2004
3Emission Rights
Withdrawn in June 2005
4Determining Whether an Arrangement Contains a Lease2004
5Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds2004
6Liabilities Arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment2005
7Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies2005
8Scope of IFRS 2
Withdrawn effective from 1 January 2010
9Reassessment of Embedded Derivatives2006
10Interim Financial Reporting and Impairment2006
Withdrawn effective from 1 January 2010
12Service Concession Arrangements2006
13Customer Loyalty Programmes
Will be superseded by IFRS 15 as of 1 January 2018
14IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction2007
15Agreements for the Construction of Real Estate
Will be superseded by IFRS 15 as of 1 January 2017
16Hedges of a Net Investment in a Foreign Operation2008
17Distributions of Non-cash Assets to Owners2008
18Transfers of Assets from Customers
Will be superseded by IFRS 15 as of 1 January 2017
19Extinguishing Financial Liabilities with Equity Instruments2009
20Stripping Costs in the Production Phase of a Surface Mine2011
22Foreign Currency Transactions and Advance Consideration2016
23Uncertainty over Income Tax Treatments2017
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Above is the list of interpretations. Only SIC that are still relevant were listed. But all IFRIC Interpretations we’re listed. Therefore, note that five of the interpretations are no longer relevant. Either it has been withdrawn or superseded.