What impact did the introduction of IFRIC 13 Customer Loyalty Programmes have on revenue recognition policies for entities in the airline industry?
A) No impact.
B) Changed the timing of the recognition of revenue.
C) Reduced the amount of revenue able to be recognised.
D) Increased the amount of revenue able to be recognised.

Question

What impact did the introduction of IFRIC 13 Customer Loyalty Programmes have on revenue recognition policies for entities in the airline industry? 
A) No impact.
B) Changed the timing of the recognition of revenue.
C) Reduced the amount of revenue able to be recognised.
D) Increased the amount of revenue able to be recognised.

Quizplus · Accepted Answer

The introduction of IFRIC 13 Customer Loyalty Programmes changed the timing of the recognition of revenue for entities in the airline industry. The revenue is recognized at the time when the points or vouchers are redeemed, rather than when they are issued.

What Impact Did the Introduction of IFRIC 13 Customer Loyalty