Category: IAS 18 Revenue

IAS 18 Revenue outlines the accounting requirements for when to recognise 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 recognised when prescribed conditions are met, which depend on the nature of the revenue. IAS 18 will be SUPERSEDED by IFRS 15 on 1 January 2018.