SIC-18 — Consistency – Alternative Methods


  • IAS 1 Presentation of Financial Statements


  • Issued January 2000
  • Effective date: Annual financial periods beginning on or after 1 July 2000
  • Superseded by IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors (Revised 2003), effective for annual periods beginning on or after 1 January 2005.


Summary of SIC-18

Under SIC-18, if more than one accounting policy is available under an International Accounting Standard or Interpretation, an enterprise should choose and apply consistently one of those policies unless the Standard or Interpretation specifically requires or permits categorisation of items (transactions, events, balances, or amounts) for which different policies may be appropriate. If a Standard requires or permits categorisation of items, the most appropriate accounting policy should be selected and applied consistently to each category.

Additional guidance on the application of the Interpretation to specific choices available under IAS is provided in an appendix to SIC-18.

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.