UITF Abstract 26 has been superseded by FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland for accounting periods beginning on or after 1 January 2015. For more information visit:

• icaew.com/newukgaap

Synopsis

The consensus is:

• Turnover and costs relating to barter transactions for advertising should not be recognised unless there is persuasive evidence of the value at which the advertising would have been sold for cash in a similar transaction.  
• If there is such persuasive evidence the value should be included in turnover and costs.
• Disclosure required in the notes of the total amounts of barter transactions for advertising included in turnover.

• Read UITF Abstract 26

Last updated 21 June 2015