IFRIC Interpretation 12 Service Concession Arrangements (IFRIC 12) is set out in paragraphs 1–30 and Appendices A and B. IFRIC 12 is accompanied by information notes, illustrative examples and a Basis for Conclusions. The scope and authority of Interpretations are set out in the Preface to IFRS Standards.

These examples accompany, but are not part of, IFRIC 12. The terms of the arrangement require an operator to construct a road—completing construction within two years—and maintain and operate the road to a specified standard for eight years (ie years 3⁠–⁠10).

The table sets out the typical types of arrangements for private sector participation in the provision of public sector services and provides references to IFRSs that apply to those arrangements.

IFRIC Interpretation 12 Service Concession Arrangements (IFRIC 12) is set out in paragraphs 1–30 and Appendices A and B. IFRIC 12 is accompanied by information notes, illustrative examples and a Basis for Conclusions.

IFRIC Interpretation 12 sets out the general recognition and measurement prin-ciples pertaining to the obligations and rights arising from service concessions

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.

IFRIC 12 sets out general principles on recognising and measuring the obligations and related rights in service concession arrangements. Requirements for disclosing information about service concession arrangements are in SIC-

Dec 11, 2018 · IFRIC 12 Features of Service Concession Arrangements. The grantor is a public sector entity, including a governmental body, or a private sector entity to which the responsibility for the service has been devolved.

In November 2006 the International Accounting Standards Board issued IFRIC 12 Service Concession Arrangements. It was developed by the Interpretations Committee. Other Standards have made minor consequential amendments to IFRIC 12.

Mar 17, 2021 · All the requirements shown below must be met for an agreement to be within the scope of IFRIC12. Before explaining these requirements, it is important to say that this interpretation refers to two parties within a concession contract, the operator and grantor.