IAS Plus Newsletter on IFRIC 13

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02 Jul 2007

Deloitte's IFRS Global Office has published a special edition IAS Plus Newsletter on (PDF 106k).

IFRIC 13 addresses the accounting by entities that provide their customers with incentives to buy goods or services by providing awards (called 'award credits' in the Interpretation) as part of a sales transaction. Common examples are airline and hotel loyalty schemes and credit card reward schemes. IFRIC 13 requires the entity that grants the awards to account for the sales transaction that gives rise to the award credits as a 'multiple element revenue transaction' and allocate the fair value of the consideration received or receivable between the award credits granted and the other components of the revenue transaction. This newsletter explains the requirements of IFRIC 13. You will find all Past IAS Plus Newsletters Here. You can sign up for Free Subscription by Email.

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