ias18 - IAS 18 International Accounting Standard 18 Revenue...

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IAS 18 © IASCF A475 International Accounting Standard 18 Revenue This version includes amendments resulting from IFRSs issued up to 31 December 2009. IAS 18 Revenue was issued by the International Accounting Standards Committee in December 1993. It replaced IAS 18 Revenue Recognition (issued in December 1982). Limited amendments to IAS 18 were made as a consequence of IAS 39 (in 1998), IAS 10 (in 1999) and IAS 41 (in January 2001). In April 2001 the International Accounting Standards Board resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. Since then IAS 18 and its accompanying illustrative examples have been amended by the following IFRSs: •I A S 3 9 Financial Instruments: Recognition and Measurement (as revised in December 2003) F R S 4 Insurance Contracts (issued March 2004) A S 1 Presentation of Financial Statements (as revised in September 2007) * amended the terminology used throughout IFRSs, including IAS 18 Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate (Amendments to IFRS 1 and IAS 27) (issued May 2008) * Improvements to IFRSs (issued May 2008) * F R I C 1 5 Agreements for the Construction of Real Estate (issued July 2008) * Improvements to IFRSs (issued April 2009) F R S 9 Financial Instruments (issued November 2009). As well as IFRIC 15 the following Interpretations refer to IAS 18: •S I C - 1 3 Jointly Controlled Entities—Non-Monetary Contributions by Venturers (issued December 1998 and subsequently amended) I C - 2 7 Evaluating the Substance of Transactions involving the Legal Form of a Lease (issued December 2001 and subsequently amended) I C - 3 1 Revenue—Barter Transactions Involving Advertising Services (issued December 2001 and subsequently amended) F R I C 1 2 Service Concession Arrangements (issued November 2006 and subsequently amended) * effective date 1 January 2009 effective date 1 January 2013 (earlier application permitted)
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IAS 18 A476 © IASCF •I F R I C 1 3 Customer Loyalty Programmes (issued June 2007) F R I C 1 8 Transfers of Assets from Customers (issued in January 2009). * * effective date 1 July 2009
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IAS 18 © IASCF A477 C ONTENTS paragraphs INTERNATIONAL ACCOUNTING STANDARD 18 REVENUE OBJECTIVE SCOPE 1–6 DEFINITIONS 7–8 MEASUREMENT OF REVENUE 9–12 IDENTIFICATION OF THE TRANSACTION 13 SALE OF GOODS 14–19 RENDERING OF SERVICES 20–28 INTEREST, ROYALTIES AND DIVIDENDS 29–34 DISCLOSURE 35–36 EFFECTIVE DATE 37–39 ILLUSTRATIVE EXAMPLES Sale of goods Rendering of services Interest, royalties and dividends Recognition and measurement FOR THE ACCOMPANYING DOCUMENT BELOW, SEE PART B OF THIS EDITION
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IAS 18 A478 © IASCF International Accounting Standard 18 Revenue (IAS 18) is set out in paragraphs 1–39. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS 18 should be read in the context of its objective, the Preface to International Financial Reporting Standards and the Framework for the Preparation and Presentation of Financial Statements . IAS 8
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ias18 - IAS 18 International Accounting Standard 18 Revenue...

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