| chrissxb |
Jun 3, 2009 7:06 am |
IFRIC 13 accounting rules
On 28 June 2007, the International Financial Reporting Interpretations Committee (IFRIC) issued a new Interpretation entitled Customer Loyalty Programmes. IFRIC 13 addresses how companies, that grant their customers loyalty award credits (for airlines: miles) when buying goods or services, should account for their obligation to provide free or discounted goods or services if and when the customers redeem the points/miles.
so here's my question: did airlines adopt these new standards? which FFPs use them and what accruals need to be made by airline?
any helpful answers and links are welcome :)
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