IFRIC 5 Rights to Interests arising from Decommissioning Restoration and Environmental Rehabilitation Funds

Last Updated on 15/02/2020 by 75385885

IFRIC 5 Rights to Interests arising from Decommissioning Restoration and Environmental Rehabilitation Funds

References

Background

1 The purpose of decommissioning, restoration and environmental rehabilitation funds, hereafter referred to as ‘decommissioning funds’ or ‘funds’, is to segregate assets to fund some or all of the costs of decommissioning plant (such as a nuclear plant) or certain equipment (such as cars), or in undertaking environmental rehabilitation (such as rectifying pollution of water or restoring mined land), together Read more

IFRIC 6 Liabilities arising from Participating in a Specific Market Waste Electrical and Electronic Equipment

Last Updated on 12/02/2020 by 75385885

IFRIC 6 Liabilities arising from Participating in a Specific Market Waste Electrical and Electronic Equipment

References

Background

1 Paragraph 17 of IAS 37 specifies that an obligating event is a past event that leads to a present obligation that an entity has no realistic alternative to settling.

2 Paragraph 19 of IAS 37 states that provisions are recognised only for ‘obligations arising from past events existing independently of an entity’s future actions’.

3 The European Union’s Directive on Waste Electrical and Electronic Equipment (WE&EE), which regulates the collection, treatment, recovery and environmentally sound disposal of waste Read more