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• Interpretation 12 
  Service Concession Arrangements 
   
  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
   
  
  • an 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.
 
 

• Interpretation 110 
  Government Assistance – No Specific Relation to Operating Activities 
   
  Operative date: 1 January 2005 
  Issue date: July 2004 
   
  This Interpretation applies when an entity applies AASB 120 Accounting for Government Grants and Disclosures of Government Assistance, and clarifies that government assistance provided to an entity for operating in certain regions or industries is a government grant to which AASB 120 applies. 
   
  Related AASB standards: AASB 120.