t:IAS18 - Revision history

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2020-08-21T00:42:18Z

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ORwiki at 23:02, 20 August 2020

2020-08-20T23:02:52Z

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2020-08-20T00:45:51Z

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<div class="alert-box secondary">Superseded by [[Link::t:IFRS15]].</div>

{{this}} addresses when to recognize and how to measure revenue. Revenue is the gross inflow of economic benefits during the period arising from the course of the ordinary activities of an entity when those inflows result in increases in equity, other than increases relating to contributions from equity participants. {{this}} applies to accounting for revenue arising from the following transactions and events:
* The sale of goods;
* The rendering of services; and
* The use by others of entity assets yielding interest, royalties and dividends.
Revenue is recognised when it is probable that future economic benefits will flow to the entity and those benefits can be measured reliably. {{this}} identifies the circumstances in which those criteria will be met and, therefore, revenue will be recognised. It also provides practical guidance on the application of the criteria. Revenue is measured at the fair value of the consideration received or receivable.

{{this}} is Copyright: [https://IFRS.org IFRS Foundation]
<ins>
[[Link::t:Revenue]]
</ins>
<div class="alert-box secondary">* Superseded by [[t:IFRS15]].</div>
[[Category:Term]][[Category:Finance]]
{{Object
|name=IAS 18 Revenue*
|parent=t:IFRS
|sort=10018
|level=1
|keywords=IAS, IFRS, Standard, Financial, Accounting
|description=IAS 18 addresses when to recognize and how to measure revenue
}}

← Older revision	Revision as of 00:42, 21 August 2020
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 * The rendering of services; and
 * The use by others of entity assets yielding interest, royalties and dividends.
-Revenue is recognised when it is probable that future economic benefits will flow to the entity and those benefits can be measured reliably. {{this}} identifies the circumstances in which those criteria will be met and, therefore, revenue will be recognised. It also provides practical guidance on the application of the criteria. Revenue is measured at the fair value of the consideration received or receivable.
+Revenue is recognized when it is probable that future economic benefits will flow to the entity and those benefits can be measured reliably. {{this}} identifies the circumstances in which those criteria will be met and, therefore, revenue will be recognized. It also provides practical guidance on the application of the criteria. Revenue is measured at the fair value of the consideration received or receivable.

← Older revision	Revision as of 13:37, 20 August 2020
(No difference)