Standing Interpretations Committee (SIC) are a form of regulatory guidance issued before the formation of the IFRS Interpretations Committee (formerly IFRIC) by the International Accounting Standards Committee (IASC). These interpretations clarify how specific International Accounting Standards (IAS) should be applied in practice.
Final interpretations issued by the Standing Interpretations Committee (SIC):
|
Serial |
Name |
Issued |
|
SIC~1 |
Consistency – Different Cost Formulas for Inventories Superseded |
1997 |
|
SIC~2 |
Consistency – Capitalization of Borrowing Costs Superseded |
1997 |
|
SIC~3 |
Elimination of Unrealized Profits and Losses on Transactions with
Associates Superseded |
1997 |
|
SIC~5 |
Classification of Financial Instruments-contingent Settlement
Provisions superseded |
1998 |
|
SIC~6 |
Costs of Modifying Existing Software Superseded |
1998 |
|
SIC~7 |
Introduction of the Euro |
1998 |
|
SIC~8 |
First-Time Application of IASs as the Primary Basis of Accounting
Superseded |
1998 |
|
SIC~9 |
Business Combinations – Classification either as Acquisitions or
Uniting of Interests Superseded |
1998 |
|
SIC~10 |
Government Assistance – No Specific Relation to Operating Activities |
1998 |
|
SIC~11 |
Foreign Exchange – Capitalization of Losses Resulting from Severe
Currency Devaluations Superseded |
1998 |
|
SIC~12 |
Consolidation – Special Purpose Entities Superseded by IFRS 10 and IFRS
12 effective 1 January 2013 |
1998 |
|
SIC~13 |
Jointly Controlled Entities – Non-Monetary Contributions by Venturers
Superseded by IFRS 11 and IFRS 12, effective for annual periods beginning on
or after 1 January 2013 |
1998 |
|
SIC~14 |
Property, Plant and Equipment – Compensation for the Impairment or Loss
of Items Superseded |
1998 |
|
SIC~15 |
Operating Leases – Incentives Superseded in 2019 by IFRS 16 |
1999 |
|
SIC~16 |
Share Capital – Reacquired Own Equity Instruments (Treasury Shares)
Superseded |
1999 |
|
SIC~17 |
Equity – Costs of an Equity Transaction Superseded |
2000 |
|
SIC~18 |
Consistency – Alternative Methods Superseded |
2000 |
|
SIC~19 |
Reporting Currency – Measurement and Presentation of Financial
Statements under IAS 21 and IAS 29 Superseded |
2000 |
|
SIC~20 |
Equity Accounting Method – Recognition of Losses Superseded |
2000 |
|
SIC~21 |
Income Taxes – Recovery of Revalued Non-Depreciable Assets Superseded
by, and incorporated into, IAS 12 by amendments made by Deferred Tax:
Recovery of Underlying Assets, effective for annual periods beginning on or
after 1 January 2012 |
2000 |
|
SIC~22 |
Business Combinations – Subsequent Adjustment of Fair Values and
Goodwill Initially Reported Superseded |
2000 |
|
SIC~23 |
Property, Plant and Equipment – Major Inspection or Overhaul Costs
Superseded |
2000 |
|
SIC~24 |
Earnings Per Share – Financial Instruments and Other Contracts that May
Be Settled in Shares Superseded |
2000 |
|
SIC~25 |
Income Taxes – Changes in the Tax Status of an Enterprise or its
Shareholders |
2000 |
|
SIC~27 |
Evaluating the Substance of Transactions in the Legal Form of a Lease
Superseded in 2019 by IFRS 16 |
2000 |
|
SIC~28 |
Business Combinations – ‘Date of Exchange’ and Fair Value of Equity
Instruments Superseded |
2001 |
|
SIC~29 |
Disclosure – Service Concession Arrangements |
2001 |
|
SIC~30 |
Reporting Currency – Translation from Measurement Currency to
Presentation Currency Superseded |
2001 |
|
SIC~31 |
Revenue – Barter Transactions Involving Advertising Services Superseded
in 2018 by IFRS 15 |
2001 |
|
SIC~32 |
Intangible Assets – Web Site Costs |
2001 |
|
SIC~33 |
Consolidation and Equity Method – Potential Voting Rights and
Allocation of Ownership Interests Superseded |
2001 |
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