Revenue should be measured at the fair value of the consideration received or receivable. Revenue: the gross inflow of economic benefits (cash, receivables, other assets) arising from the ordinary operating activities of an entity (such as sales of goods, sales of services, interest, royalties, and dividends). The objective of IAS 18 is to prescribe the accounting treatment for revenue arising from certain types of transactions and events. SIC-31 Revenue – Barter Transactions Involving Advertising Services.SIC-27 Evaluating the Substance of Transactions in the Legal Form of a Lease.IFRIC 12 Service Concession Arrangements.IFRIC 15 Agreements for the Construction of Real Estate.

IFRIC 18 Transfers of Assets from Customers.

IAS 18 will be superseded by IFRS 15 Revenue from Contracts with Customers It now provides guidance for determining whether an entity is acting as a principal or as an agent. IAS 18 Revenue Recognition (revised as part of the 'Comparability of Financial Statements' project)Įffective date of IAS 18 (1993) Revenue RecognitionĪmended by IAS 39 Financial Instruments: Recognition and Measurement, effective 1 January 2001Īppendix to IAS 18 amended for Annual Improvements to IFRSs 2009.

IAS 39 - Financial Instruments: Recognition and Measurement.

IAS 37 - Provisions, Contingent Liabilities and Contingent Assets.

IAS 35 - Discontinuing Operations (Superseded).

IAS 32 - Financial Instruments: Presentation.

IAS 30 - Disclosures in the Financial Statements of Banks and Similar Financial Institutions.

IAS 29 - Financial Reporting in Hyperinflationary Economies.

IAS 28 - Investments in Associates (2003).

IAS 28 - Investments in Associates and Joint Ventures (2011).

IAS 27 - Consolidated and Separate Financial Statements (2008).

IAS 27 - Separate Financial Statements (2011).

IAS 26 - Accounting and Reporting by Retirement Benefit Plans.

IAS 22 - Business Combinations (Superseded).

IAS 21 - The Effects of Changes in Foreign Exchange Rates.

IAS 20 - Accounting for Government Grants and Disclosure of Government Assistance.

IAS 19 - Employee Benefits (1998) (superseded).

IAS 15 - Information Reflecting the Effects of Changing Prices (Withdrawn).

IAS 14 - Segment Reporting (Superseded).IAS 10 - Events After the Reporting Period.IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors.IAS 1 - Presentation of Financial Statements.

Cost recovery method installment sales