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• Interpretation 12  
  Service Concession Agreements 
   
  Operative date: 1 January 2009 
  Issue date: June 2007 
   
  In a public-to-private service concession arrangement, the operator is required to: 
   
  
  • Recognise and measure revenue received under the contract in accordance with AASB 118 Revenue and AASB 111 Construction Contracts.
   
  
  • Allocate the consideration received to the different elements (eg. construction and maintenance) of the contract, based on each identifiable element’s fair value.
   
  
  • Recognise either:
  • a financial asset, to the extent that the operator has an unconditional right to receive cash or another financial asset; or
  ­ 
  
  • a intangible asset, to the extent that the operator receives a right to charge users of the public service.
   
  Related AASB Standards: AASB 1, AASB 7, AASB 108, AASB 111, AASB 116, AASB 117, AASB 118, AASB 120, AASB 123, AASB 132, AASB 136, AASB 137, AASB 138, AASB 139