Transcription of Revenue – IFRS 15 handbook - assets.kpmg
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Revenue – IFRS 15 handbook - assets.kpmg
RevenueIFRS 15 handbook June new challenges 1 Overview21 Step 1 Identify the contract with a customer Criteria to determine whether a contract Contract term Consideration received before a contract Combination of contracts 192 Step 2 Identify the performance obligations in the contract Distinct goods or services Implied promises and administrative tasks Series of distinct goods or services 393 Step 3 Determine the transaction price Variable consideration (and the constraint) Significant financing component Non-cash consideration Consideration payable to a customer Sales taxes 884 Step 4 Allocate the transaction price to the performance obligations in the contract Determine stand-alone selling prices Allocate the transaction price Changes in the transaction price 1115 Step 5 Recognise Revenue when or as the entity satisfies a performance obligation Transfer of control Performance obligations satisfied over time Measuring progress towards complete satisfaction of a performance obligation Performance obligations satisfied at a point in time Repurchase agreements Consignment arrangements Bill-and-hold arrangements Customer acceptance 1616 Scope In scope Out of sco
on experience across different industries and geographies. And we are delighted to share our experience with you in our IFRS 15 handbook: Revenue.It provides detailed guidance, illustrative examples and extensive discussion of the areas that
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