IFRIC 12 Service Concession Arrangements
Published November 2006. Effective 1 August 2008 (30 March 2009 for EU preparers).
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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.
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|Annual period starts||Effective version of standard||Notes on amendments|
|On or after 1 January 2020||IFRIC 12 2021 Required Standards||Includes amendments 1-4|
|1 January 2019 – 31 December 2019||IFRIC 12 2019 Required Standards||Includes amendments 1-3|
|1 January 2018 – 31 December 2018||IFRIC 12 2018 Required Standards||Includes amendments 1-2|
Required Standards book for a particular year assumes that there is no early application of issued but not yet effective IFRSs; The Issued Standards book assumes early application of all issued IFRSs.
For the latest version of the interpretation, and where the amendment is to be adopted early, refer to IFRIC 12 2021 Required Standards.
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The following interpretation refers to IFRIC 12
IFRSs Referred to by IFRIC 12
This page was last updated 23 June 2021