SIC-31 — Revenue – Barter Transactions Involving Advertising Services
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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 |
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Published by IASB: |
December 2001 |
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Included in Part I of CPA Canada Handbook: |
January 2010 |
Overview
SIC-31 Revenue - Barter Transactions Involving Advertising Services deals with the circumstances in which a seller can reliably measure revenue at the fair value of advertising services received or provided in a barter transaction.
History of SIC 31
The following table shows the history of this standard subsequent to the adoption of IFRS in Canada.
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Date1 |
Development |
Comments |
Included in Part I of the CPA Canada Handbook2 |
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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 |
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May 28, 2014 |
SIC 31 will be superseded by IFRS 15, Revenue from Contracts with Customers. IFRS 15 is effective for annual periods beginning on or after January 1, 2018. Earlier application is permitted. |
February 2015 |
Notes
- For further details of relevant developments prior to this, please refer to our Deloitte Global section.
- 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.
Related Standards
Amendments under consideration
- None