IAS 18 — Revenue

Effective date:

First effective as Canadian GAAP under Part I for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011, except for subsequent amendments.  Earlier application of Part I was permitted.

Published by the IASB:

December 1993

Included in Part I of CPA Canada Handbook:

January 2010

Reach out to our IAS 18 Specialist

Joyce Lam


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.

History of IAS 18

The following table shows the history of this standard subsequent to the adoption of IFRS in Canada. 




Included in Part I of the CPA Canada Handbook2

January 2010

Part I of the CPA Canada Handbook issued

Effective for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011. Earlier application is permitted.

January 2010

May 28, 2014

IFRS 15 Revenue from Contracts with Customers issued

IAS 18 will be superseded by IFRS 15 Revenue from Contracts with Customers, which is effective for annual periods beginning on or after January 1, 2018. Earlier application is permitted.

February 2015


  1. For further details of relevant developments prior to this, please refer to our Deloitte Global section.
  2. Newly issued, amended or revised IFRSs are part of Canadian GAAP only after they are approved by the Accounting Standards Board in accordance with its due process.

The above summary does not include details of consequential amendments made as the result of other projects.

Related Interpretations

  • None

Related IFRIC Agenda Rejection Notices

The rejection notices are available in our Deloitte Global section.

  • IAS 18, IAS 37 and IAS 39 — Regulatory assets and liabilities (November 2012)
  • IAS 18 — Receipt of a dividend of equity instruments (January 2010)
  • IAS 38 — Accounting by a real estate developer for sales costs during construction (May 2009)
  • IAS 18/IAS 39 — Accounting for trailing commissions (September 2008)
  • IAS 18 — Guidance on identifying agency relationships (September 2007)
  • IAS 17 — Sale and leasebacks with repurchase agreements (March 2007)
  • IAS 11 — Allocation of profit in a single contract (November 2006)
  • IAS 18 — Subscriber acquisition costs in the telecommunications industry (March 2006)
  • IAS 11 — Construction Contracts and IAS 18 Revenue: Pre-completion contracts for the sale of residential properties. (November 2004)
  • IAS 18 — Prompt settlement discounts (July 2004)
  • IAS 18 — Extended Payments terms (July 2004)

AcSB’s IFRS Discussion Group meetings

Amendments under consideration

  • None

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.