Revenue Recognition IAS 18

Hi buddy here I have come to get info related to Revenue recognition IAS 18, so if you have its info the n will you plz shared with us ???

[Shaleen]

IAS stand for International Accounting Standards and as you asking for Revenue recognition IAS 18, so here I am telling that recognition criteria in IAS 18 Standard are commonly applied separately to each transaction.

However, in certain circumstances, it is necessary to apply the recognition criteria to the separately identifiable components of a single transaction in order to reflect the substance of the transaction.

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

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1 January 2018 IAS 18 will be superseded by IFRS 15 Revenue from Contracts with Customers

Revenue recognition IAS 18