This standard was approved by Order of the Ministry of Finance No. 56n dated May 16, 2025. It sets the requirements for recording income in accounting.
It becomes mandatory from 2027, but organizations may voluntarily apply FAS 9/2025 “Revenue” from 2026. If applied early, companies can choose one of two methods to account for changes in accounting policy: full retrospective (recalculation for all contracts) or simplified retrospective. The standard clarifies the definitions and classification of income and lists receipts that are not recognized as revenue.
FAS 9/2025 builds on the principles of IFRS 15 “Revenue from Contracts with Customers” (introduced by Order No. 98n dated July 27, 2016). It replaces PBU 9/99 “Revenue” and PBU 2/2008 “Construction Contract Accounting.”
The main innovations include:
a) a differentiated approach to recognizing revenue for different types of organizations;
b) updated criteria for revenue recognition;
c) clarification and, in some cases, revision of revenue valuation methods for standard business transactions;
d) expansion of specific cases requiring special valuation procedures.
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