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Commission Regulation (EC) No 1164/2009Show full title

Commission Regulation (EC) No 1164/2009 of 27 November 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 18 (Text with EEA relevance) (revoked)

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  1. Introductory Text

  2. Article 1.The Annex to Regulation (EC) No 1126/2008 is amended as...

  3. Article 2.Each company shall apply IFRIC 18 and the amendments to...

  4. Article 3.This Regulation shall enter into force on the third day...

  5. Signature

    1. ANNEX

      1. IFRIC INTERPRETATION 18 Transfers of Assets from Customers

        1. REFERENCES

        2. BACKGROUND

          1. 1 In the utilities industry, an entity may receive from its...

          2. 2 Transfers of assets from customers may also occur in industries...

          3. 3 In some cases, the transferor of the asset may not...

        3. SCOPE

          1. 4 This Interpretation applies to the accounting for transfers of items...

          2. 5 Agreements within the scope of this Interpretation are agreements in...

          3. 6 This Interpretation also applies to agreements in which an entity...

          4. 7 This Interpretation does not apply to agreements in which the...

        4. ISSUES

          1. 8 The Interpretation addresses the following issues:

        5. CONSENSUS

          1. Is the definition of an asset met?

            1. 9 When an entity receives from a customer a transfer of...

            2. 10 An entity that controls an asset can generally deal with...

          2. How should the transferred item of property, plant and equipment...

            1. 11 If the entity concludes that the definition of an asset...

          3. How should the credit be accounted for?

            1. 12 The following discussion assumes that the entity receiving an item...

            2. 13 Paragraph 12 of IAS 18 states that ‘When goods are...

          4. Identifying the separately identifiable services

            1. 14 An entity may agree to deliver one or more services...

            2. 15 Features that indicate that connecting the customer to a network...

            3. 16 A feature that indicates that providing the customer with ongoing...

            4. 17 Conversely, a feature that indicates that the obligation to provide...

          5. Revenue recognition

            1. 18 If only one service is identified, the entity shall recognise...

            2. 19 If more than one separately identifiable service is identified, paragraph...

            3. 20 If an ongoing service is identified as part of the...

          6. How should the entity account for a transfer of cash...

            1. 21 When an entity receives a transfer of cash from a...

        6. EFFECTIVE DATE AND TRANSITION

          1. 22 An entity shall apply this Interpretation prospectively to transfers of...

      2. Appendix

        1. Amendment to IFRS 1 First-time Adoption of International Financial Reporting Standards (as revised in...

          1. A1 In Appendix D paragraph D1 is amended as follows.

          2. A2 After paragraph D23 a heading and paragraph D24 are added....

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