IFRIC 12 Service Concession Arrangements
Published November 2006. Effective 1 August 2008 (30 March 2009 for EU preparers).
Contents
Free to view
- Synopsis (including link to unaccompanied version of IFRIC 12)
- Related IFRICs
- IFRSs referred to
Financial Reporting Faculty members only
IFRIC 12 Service Concession Arrangements
Contents
Free to view
- Synopsis (including link to unaccompanied version of IFRIC 12)
- Related IFRICs
- IFRSs referred to
Financial Reporting Faculty members only
Synopsis
A service concession arrangement is an arrangement where a government or other body grants a contract for the supply of public services to a private operator.
IFRIC 12 identified two types of service concession arrangements:
- One in which the operator has a contractual right to receive cash or another financial asset from the government
- One in which the operator has the right to charge for access to the service that it supplies.
In the first arrangement the operator should recognise a financial asset at fair value to the extent that it has an unconditional contractual right to receive cash or another financial asset.
In the second arrangement the operator should recognise an intangible asset to the extent that it receives a right to charge users of the public service.
The International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website. Free registration is required.
Which version of the interpretation?
Financial Reporting Faculty members who joined the faculty prior to 1 November 2022 have premium access to the consolidated edition of IFRS and amendments through the IASB's IFRS Standards Navigator service. Please log into IFRS Standards Navigator to access electronic versions of the standards through these links.
Please be aware that as part of the changes to ICAEW faculty membership, this service will be withdrawn after 31 December 2022.
Recent amendments
Full access to details of all the amendments is only available to Financial Reporting Faculty members. Find out how to join the faculty.
The following interpretation refers to IFRIC 12
IFRSs Referred to by IFRIC 12
- IFRS 1 First Time Adoption of IFRS
- IFRS 7 Financial Instruments: Disclosures
- IFRS 9 Financial Instruments
- IFRS 15 Revenue from Contracts with Customers
- IFRS 16 Leases
- IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors
- IAS 11 Construction Contracts
- IAS 16 Property, Plant and Equipment
- IAS 17 Leases
- IAS 18 Revenue
- IAS 20 Accounting for Government Grants and Disclosure of Government Assistance
- IAS 23 Borrowing Costs
- IAS 32 Financial Instruments: Presentation
- IAS 36 Impairment of Assets
- IAS 37 Provisions, Contingent Liabilities and Contingent Assets
- IAS 38 Intangible Assets
- IAS 39 Financial Instruments: Recognition and Measurement
This page was last updated 24 February 2022.