RIS ID
23851
Abstract
From 1 July 2008 IFRIC 13 becomes mandatory in Australia, requiring a standardised deferred revenue treatment to account for a plethora of Customer Loyalty Programmes (CLP). This paper highlights the diverse views of appropriate classification, and the ambiguities faced by those accounting for CLP. A text based analysis of documents pertaining to IFRIC 13 shows the International Financial Reporting Interpretations Committee (IFRIC) to be committed to a principles based approach in making its interpretation. While IFRIC members were responsive to the concerns of interested parties, they were not subservient to the ensuing lobbying process.
Publication Details
This conference paper was originally published as Chapple, S, Moerman, L & Rudkin, K, Customer loyalty programmes: IFRIC13 and the ambiguities of revenue recognition, AFAANZ/IAAER Conference 2008, Sydney, 6-8 July 2008.