{"id":66752,"date":"2026-03-10T16:20:43","date_gmt":"2026-03-10T14:20:43","guid":{"rendered":"https:\/\/www.lexia.it\/?p=66752"},"modified":"2026-03-10T16:31:32","modified_gmt":"2026-03-10T14:31:32","slug":"oic-34-sales-right-return","status":"publish","type":"post","link":"https:\/\/www.lexia.it\/en\/2026\/03\/10\/oic-34-sales-right-return\/","title":{"rendered":"OIC 34: sales with right of return"},"content":{"rendered":"\n

OIC 34 aims to regulate the criteria for the recognition and measurement of revenue. Given the strategic importance of revenue for stakeholders, a correct interpretation of the provisions of the standard is essential.<\/p>\n\n\n\n

OIC 34 is structured in a step-by-step model, referencing the international accounting standard IFRS 15. The standard stipulates that revenue should be recognized:<\/p>\n\n\n\n

    \n
  1. When it can be reliably determined<\/li>\n\n\n\n
  2. When the substantial risks and benefits related to the sale are transferred<\/li>\n<\/ol>\n\n\n\n

    The national standard aligns with the international principle by including the assessment of the risk of returns. This aspect is particularly relevant for sectors with a high frequency of returns, such as publishing, manufacturing, pharmaceuticals, clothing, retail, consumer goods, luxury, and art.<\/p>\n\n\n\n

    Unlike IFRS 15, the national principle differentiates between sales where the return risk can be assessed analytically and those where it can only be assessed “in bulk.” In the first case, the return is prudently recognized only when the seller is reasonably certain that the goods will be returned based on historical experience, forecasts, or contractual elements. In the second case, the company treats the item according to the provisions for variable consideration, in order to determine the liability amount, which will be recorded in a provision for expenses, with a corresponding revenue adjustment.<\/p>\n\n\n\n

    It has been clarified that the accounting for returns requires the goods to be recorded among inventories at the original cost or its average cost, if such a value cannot be reliably determined. In this case, the principle\u2019s illustrative examples suggest that, if relevant, the item should be recorded separately under inventories in the balance sheet, as \u201cC) I 6) Assets for expected returns.\u201d<\/p>\n\n\n\n

    For companies that prepare abbreviated financial statements and microenterprises, a simplified model is provided. These companies may simply record a provision for expenses with a corresponding reduction in revenue, without the need to account for the goods sold at their original inventory value.<\/p>\n","protected":false},"excerpt":{"rendered":"

    OIC 34 aims to regulate the criteria for the recognition and measurement of revenue. Given the strategic importance of revenue for stakeholders, a correct interpretation of the provisions of the standard is essential. OIC 34 is structured in a step-by-step model, referencing the international accounting standard IFRS 15. The standard stipulates that revenue should be … Continued<\/a><\/p>\n","protected":false},"author":13,"featured_media":66745,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[665],"tags":[],"area":[],"collana":[],"competenza":[944],"class_list":["post-66752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-publications","competenza-audit"],"acf":[],"yoast_head":"\nOIC 34: sales with right of return - LEXIA<\/title>\n<meta name=\"description\" content=\"OIC 34 regulates the recognition of revenue, considering the risk of returns, with rules for sectors with a high frequency of returns.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lexia.it\/en\/2026\/03\/10\/oic-34-sales-right-return\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OIC 34: sales with right of return - 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