IFRIC 2 Members’ Shares in Co-operative Entities and Similar Instruments
Published November 2004. Effective 1 January 2005.
Contents
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Financial Reporting Faculty members only
Synopsis
IFRIC 2 provides guidance in applying the requirements of IAS 32 in terms of classifying financial instruments as liabilities or equity to co-operatives and similar entities.
Shares for which the member has the right to request redemption are normally liabilities, unless:
- The entity has an unconditional right to refuse redemption
- Local law, regulation or the entity’s governing charter can unconditionally prohibit redemption.
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IFRSs referred to by IFRIC 2
- IFRS 9 Financial Instruments
- IFRS 13 Fair Value Management
- IAS 32 Financial Instruments: Presentation
This page was last updated 4 February 2022.