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US GAAP | IFRS |
ASC 606 was amended to specify that noncash consideration should be measured at contract inception and addresses how to apply the variable consideration guidance to contracts with noncash consideration.
Noncash consideration paid to a customer is recognized as contra-revenue, unless it is payment for a distinct good or service. This is true even if such payments are in the form of share-based payments, which would be valued as noncash consideration following ASC 606.
| IFRS 15 has not been amended to address noncash consideration, and as a result, approaches other than that required by ASC 606 may, where appropriate, be applied under IFRS 15.
Given the lack of noncash consideration guidance in IFRS 15, these types of share-based payments would be valued following guidance in IFRS 2.
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