Applying IFRS: Accounting for payments from suppliers

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EY Global CRS
24 Jan 2024 PDF
Subject IFRS technical resources
Categories Revenue Other IFRS

This publication discusses the accounting for payments received (or receivable) from suppliers under IFRS.

While IFRS accounting standards specifically address payments made by an entity to its customers, there is no one standard that addresses payments received by an entity from its suppliers. Instead, there are several requirements that might be applicable, depending on the specific facts and circumstances.

Our publication outlines the steps to apply to payments received (or receivable) from suppliers, highlights where judgement may be needed and indicates the potential accounting consequences under IFRS.

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