IFRIC 18 — Applicability to the customer

Date recorded:

In March 2009, the staff received a request to add to the IFRIC agenda an issue regarding the applicability to customers of IFRIC 18 Transfers of Assets from Customers.

In the staff's opinion, IFRIC 18 is explicit that it does not apply to the customer's accounting for the transfer of assets. The IFRIC members agreed.

Based on the explicit scope of IFRIC 18, principles explained throughout IFRIC 18 including its Basis for Conclusions, and guidance in other IFRSs, in the staff's opinion, divergent interpretations are not expected in practice. Therefore the staff recommends that the IFRIC not add this issue to its agenda. The IFRIC agreed, subject to minor wording changes.

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