IAS 11: Construction contracts
The accounting standard IAS 11 sets out the accounting treatment of revenue and costs associated with construction contracts. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.
IAS 11 has been superseded by IFRS 15: Revenue from contracts with customers from 1 January 2018.
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Full text standard
Unaccompanied version of IAS 11
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.
This unaccompanied version does not include additional content that accompanies the full standard, such as illustrative examples, implementation guidance and bases for conclusions.
IAS 11 – Construction Contracts
Timeline and summary from Deloitte IAS Plus, with information on related interpretations and amendments under consideration.
Revenue and construction contracts
Topic summary provided by PwC, giving latest developments and overview, a summary of the standard and links to relevant resources.
ICAEW guidance and support
Financial Reporting Faculty
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IFRS checklists and model financial statements
Online disclosure checklists, general IFRS illustrative statements and compliance questionnaires collected by the ICAEW Library.
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IFRS 2018: Interpretation and application of IFRS standards
This Wiley guide has been fully updated to help practitioners apply and comply with the latest international financial reporting standards. It provides detailed guidance along with illustrative examples. The chapter on revenue recognition, including construction contracts, covers:
|8 January 2018
||IFRS 9 and IFRS 15 are now effective
News release issued by the IASB announcing that ‘IAS 18 Revenue’ and ‘IAS 11 Construction Contracts’ have been replaced by ‘IFRS 15 Revenue from Contracts with Customers’.
|24 June 2010||IASB and FASB propose a new joint standard for revenue recognition
Press release issued by the IASB on 24 June 2010.
Guides and publications
Some guides and comparisons that we link to may pre-date the latest amendments to this standard. While these resources contain useful information, please treat them with appropriate caution.
New on the Horizon: Revenue Recognition for Building and Construction
This publication looks at the potential impact of the revised proposals on entities in the building and construction sector.
Revenue recognition: full speed ahead
Practical guide from PwC, published July 2010, on the implications of the proposed standard on revenue recognition. Industry-specific guidance is also available, including supplements covering industrial products and engineering and construction.
New on the Horizon: Revenue from contracts with customers
This edition of New on the Horizon introduces the proposals in ED/2011/6 Revenue from contracts with customers, which was published on 14 November 2011.
Interactive training modules from Deloitte with practical scenarios, worked examples and questions to test your knowledge. Each module is available to download as a zip file free of charge (registration is required).
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Articles and books in the Library collection
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