IFRIC INTERPRETATION 15Agreements for the Construction of Real Estate REFERENCES BACKGROUND 1In the real estate industry, entities that undertake the construction...2For example, entities that undertake the construction of residential real...3Entities that undertake the construction of commercial or industrial real...SCOPE 4This Interpretation applies to the accounting for revenue and associated...5Agreements in the scope of this Interpretation are agreements for...ISSUES 6The Interpretation addresses two issues: CONSENSUS 7The following discussion assumes that the entity has previously analysed...8Within a single agreement, an entity may contract to deliver...9The following discussion refers to an agreement for the construction...Determining whether the agreement is within the scope of IAS...10Determining whether an agreement for the construction of real estate...11IAS 11 applies when the agreement meets the definition of...12In contrast, an agreement for the construction of real estate...Accounting for revenue from the construction of real estate The agreement is a construction contract 13When the agreement is within the scope of IAS 11...14The agreement may not meet the definition of a construction...The agreement is an agreement for the rendering of services...15If the entity is not required to acquire and supply...The agreement is an agreement for the sale of goods...16If the entity is required to provide services together with...17The entity may transfer to the buyer control and the...18The entity may transfer to the buyer control and the...19When the entity is required to perform further work on...Disclosures 20When an entity recognises revenue using the percentage of completion...21For the agreements described in paragraph 20 that are in...AMENDMENTS TO THE APPENDIX TO IAS 18 22-23[Amendment not applicable to bare, numbered Standards] EFFECTIVE DATE AND TRANSITION 24An entity shall apply this Interpretation for annual periods beginning...25Changes in accounting policy shall be accounted for retrospectively in...
Commission Regulation (EC) No 636/2009
of 22 July 2009
amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Financial Reporting Interpretations Committee’s (IFRIC) Interpretation 15
(Text with EEA relevance) (revoked)
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Annotations:
Amendments (Textual)
Regulation revoked (31.12.2020) by The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 2 para. 14 (with reg. 20(2)) (as amended by S.I. 2020/335, regs. 1, 5); 2020 c. 1, Sch. 5 para. 1(1)