IAS18 Revenue.pptVIP

INTERNATIONAL ACCOUNTING STANDARDS 孙鸿雁 Email: floatblue1978@126.com IAS 18Revenue Compared With CAS 14 Review Construction Contract Construction Contract Fixed Price Contract Cost Plus Contract Segmenting and Combining Contract Revenue and Contract Cost Recognition and Measurement Disclosure History of IAS 18 1982.12 IAS 18 Revenue Recognition 1984.1.1 Effective Date of IAS 18 (1982) 1993.12 IAS 18 Revenue revised as part of the Comparability of Financial Statements project 1995.1.1 Effective Date of IAS 18 (1993) Scope This Standard should be applied in accounting for revenue arising from the following transactions and events: the sale of goods; the rendering of services; and the use by others of enterprise assets yielding interest, royalties and dividends. interest - charges for the use of cash or cash equivalents or amounts due to the enterprise; royalties - charges for the use of long-term assets of the enterprise, for example, patents,trademarks, copyrights and computer software; and dividends - distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital. Definition Revenue is the gross inflow of economic benefits during the period arising in the course of the ordinary activities of an enterprise when those inflows result in increases in equity, other than increases relating to contributions from equity participants. Revenue Income { Gains Definition Fair value is the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arms length transaction. Recognition Sale of Goods the enterprise has transferred to the buyer the significant risks and rewards of ownership of the goods; the enterprise retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; the amount of revenue can be measured reliably