Ias 18 nl

Hii Buddy , I want to Get information About IAS 18 Revenue , can you plz provide me Details about same ?

[Kiran Chandar]

IAS 18 Revenue Outlines the Accounting Requirements for when to recognize Revenue from the Sale of Goods, Rendering of Services, and for Interest, Royalties and Dividends.

Revenue is measured at the fair value of the consideration received or receivable and Recognized when prescribed conditions are met, which depend on the nature of the revenue.

IAS 18 was Reissued in December 1993 and is operative for periods beginning on or after 1 January 1995.

History of IAS 18

April 1981 Exposure Draft E20 Revenue Recognition

December 1982 IAS 18 Revenue Recognition

1 January 1984 Effective date of IAS 18 (1982)

May 1992 E41 Revenue Recognition

December 1993 IAS 18 Revenue Recognition (revised as part of the 'Comparability of Financial Statements' project)

1 January 1995 Effective date of IAS 18 (1993) Revenue Recognition

December 1998 Amended by IAS 39 Financial Instruments: Recognition and Measurement, effective 1 January 2001

16 April 2009 Appendix to IAS 18 amended for Annual Improvements to IFRSs 2009.

It now provides guidance for determining whether an entity is acting as a principal or as an agent.

1 January 2018
IAS 18 will be superseded by IFRS 15 Revenue from Contracts with Customers

Related Interpretations

IFRIC 18 Transfers of Assets from Customers
IFRIC 15 Agreements for the Construction of Real Estate
IFRIC 13 Customer Loyalty Programmes
IFRIC 12 Service Concession Arrangements
SIC-27 Evaluating the Substance of Transactions in the Legal Form of a Lease
SIC-31 Revenue – Barter Transactions Involving Advertising Services