Examples of Barter in a sentence
IFRS 15 supersedes IAS 11, Construction Contracts, IAS 18, Revenue, IFRIC 13, Customer Loyalty Programs, IFRIC 15, Agreements for the Construction of Real Estate, IFRIC 18, Transfers of Assets from Customers, and SIC-31, Revenue – Barter Transactions involving Advertising Service.
TAS 11 (revised 2017)Construction ContractsTAS 18 (revised 2017)RevenueTSIC 31 (revised 2017)Revenue - Barter Transactions Involving Advertising ServicesTFRIC 13 (revised 2017)Customer Loyalty ProgrammesTFRIC 15 (revised 2017)Agreements for the Construction of Real EstateTFRIC 18 (revised 2017)Transfers of Assets from Customers Entities are to apply this standard to all contracts with customers unless those contracts fall within the scope of other standards.
For example, more than four in ten teenage schoolgirls aged between 13 and 17 in England have experienced sexual coercion (Barter et al 2015).
Barter, exchange, trade-outs, or similar transactions are includable in gross income at the fair market value of the service rendered or property transferred, whichever is higher, as they represent consideration given for consideration received.
Revenue from Contracts with Customers MFRS 15 replaces the guidance in MFRS 111, Construction Contracts, MFRS 118, Revenue, IC Interpretation 13, Customer Loyalty Programmes, IC Interpretation 15, Agreements for Construction of Real Estate, IC Interpretation 18, Transfers of Assets from Customers and IC Interpretation 131, Revenue - Barter Transactions Involving Advertising Services.