IFRIC proposal on accounting for customer contributions
17 Jan 2008
The International Financial Reporting Interpretations Committee (IFRIC) has released for public comment a draft Interpretation, IFRIC D24 'Customer Contributions'.
Customer contributions are transactions in which an entity – the 'access provider' – receives an asset it uses to provide access to an ongoing supply of goods or services to a customer or customers. In some cases, the access provider receives cash that it must use to acquire or construct the asset that will provide access.
IFRIC D24 proposes:
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IFRIC D24 would be applied prospectively. The deadline for comments is 25 April 2008.
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