Applying IFRS - EY

Applying IFRSJ oint Transition Resource Group for Revenue Recognition - items of general agreementUpdated June 2016 Joint Transition Resource Group for Revenue Recognition items of general agreement Updated June Step 1: Identify the contract(s) with a customer .. Collectability .. Contract enforceability and termination clauses .. 52. Step 2: Identify the performance obligations in the contract .. Identification of performance obligations .. Stand-ready obligations .. Series of distinct goods and services .. Gross versus net revenue amounts billed to customers .. Customer options for additional goods and services .. 113. Step 3: Determine the transaction price .. Variable consideration .. Portfolio practical expedient to estimate variable consideration.

Applying IFRS Joint Transition Resource Group for Revenue Recognition - items of general agreement Updated June 2016

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