This version includes amendments resulting from IFRSs issued up to 17 January 2008. IAS 11 Construction Contracts was issued by the International Accounting Standards Committee in December 1993. It replaced IAS 11 Accounting for Construction Contracts (issued in March 1979). In May 1999 a paragraph was amended by IAS 10 Events After the Balance Sheet Date. In April 2001 the International Accounting Standards Board resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. IAS 11 has been amended by the following IFRSs: • • IAS 23 Borrowing. | IAS 11 International Accounting Standard 11 Construction Contracts This version includes amendments resulting from IFRSs issued up to 17 January 2008. IAS 11 Construction Contracts was issued by the International Accounting Standards Committee in December 1993. It replaced IAS 11 Accounting for Construction Contracts issued in March 1979 . In May 1999 a paragraph was amended by IAS 10 Events After the Balance Sheet Date. In April 2001 the International Accounting Standards Board resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn. IAS 11 has been amended by the following IFRSs IAS 23 Borrowing Costs as revised in March 2007 IAS 1 Presentation of Financial Statements as revised in September 2007 . The following Interpretations and their accompanying documents refer to IAS 11 SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease issued December 2001 and subsequently amended SIC-32 Intangible Assets Web Site Costs issued March 2002 and subsequently amended IFRIC 12 Service Concession Arrangements issued November 2006 and subsequently amended . IASCF 1049 IAS 11 Contents paragraphs INTERNATIONAL ACCOUNTING STANDARD 11 CONSTRUCTION CONTRACTS OBJECTIVE SCOPE 1-2 DEFINITIONS 3-6 COMBINING AND SEGMENTING CONSTRUCTION CONTRACTS 7-10 CONTRACT REVENUE 11-15 CONTRACT COSTS 16-21 RECOGNITION OF CONTRACT REVENUE AND EXPENSES 22-35 RECOGNITION OF EXPECTED LOSSES 36-37 CHANGES IN ESTIMATES 38 DISCLOSURE 39-45 EFFECTIVE DATE 46 APPENDIX Illustrative examples Disclosure of accounting policies The determination of contract revenue and expenses Contract disclosures 1050 IASCF IAS 11 International Accounting Standard 11 Construction Contracts IAS 11 is set out in paragraphs 1-46. All the paragraphs have equal authority but retain the IASC format of the Standard when it was adopted by the IASB. IAS 11 should be read in the context of its objective the
