Revenues Received Seasonally, CyclicallyRevenues Received Seasonally, Cyclically, or Occasionally

Revenues Received Seasonally, Cyclically, or Occasionally

37 Revenues that are received seasonally, cyclically, or occasionally within an annual reporting period shall not be anticipated or deferred as of an interim date if anticipation or deferral would not be appropriate at the end of the entity’s annual reporting period.

38 Examples include dividend revenue, royalties and government grants. Additionally, some entities consistently earn more revenues in certain interim periods of an annual reporting period than in other interim periods, for example, seasonal revenues of retailers. Such revenues are recognised when they occur.