Commission Regulation (EC) No 636/2009 of 22 July 2009

The Commission Regulation (EC) No 636/2009 of 22 July 2009, published in the Official Journal of the European Union L191 on 23 July 2009, adopts IFRIC Interpretation 15 Agreements for the Construction of Real Estate.
IFRIC 15 provides clarification and guidance on when revenue from the construction of real estate should be recognised in the accounts, in particular, whether a construction agreement is within the scope of IAS 11 Construction Contracts or IAS 18 Revenue.
It shall be applied, at the latest, as from the commencement date of its first financial year starting after 31 December 2009.