Revenue from Contracts with Customers - ASC

contracts with customers. Specifically, FRS 115 requires an entity to provide information about: (a) revenue recognised from contracts with customers, including the disaggregation of revenue into appropriate categories; (b) contract balances, including the opening and closing balances of …

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Revenue from Contracts with Customers Illustrative Examples

www.asc.gov.sg

based royalties on licences of intellectual property (Example 4). Example 1—Collectability of the consideration IE3 An entity, a real estate developer, enters into a contract with a customer for the sale of a building for CU1 million.1 The customer intends to open a restaurant in the building. The

  Royalties

Singapore Financial Reporting Standards (International ...

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International Financial Reporting Standards SFRS(I) 1-20 Accounting for Government Grants ... 1-40 Investment Property IAS 40 Investment Property SFRS(I) 1-41 Agriculture IAS 41 Agriculture ... Environmental Rehabilitation Funds IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and ...

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SINGAPORE FINANCIAL REPORTING STANDARD FOR …

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Standard for Small and Medium-sized Entities (“IFRS for SMEs”) as the Singapore Financial Reporting Standard for Small Entities (“SFRS for Small Entities”) as at 30 November 2010. Scope 2. For the purpose of this statement, “entities” refer to (a) companies incorporated under the Companies Act (Cap.

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Revenue from Contracts with Customers (Topic 606)

asc.fasb.org

contracts and contract modifications at transition, the Board decided to add a project to its technical agenda to improv e Topic 606, Revenue from Contracts with Customers, by reducing: 1. The potential for diversity in practice at initial application 2. The cost and complexity of applying Topic 606 both at transition and on an ongoing basis.

  Form, With, Revenue, Customer, Contract, Revenue from contracts with customers

Revenue from Contracts with Customers IFRS 15

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IFRS 15 Revenue from Contracts with Customers In April 2001 the International Accounting Standards Board (Board) adopted IAS 11 Construction Contracts and IAS 18 Revenue, both of which had originally been issued by the International Accounting Standards Committee (IASC) in December 1993.

  Form, With, Customer, Contract, From contracts with customers

IFRS 15 Revenue from Contracts with Customers

www2.deloitte.com

IFRS 15 Revenue from Contracts with Customers — Your Questions Answered. 4. Identifying Performance Obligations. 13 . How should an entity determine whether a promise is a distinct performance obligation and should be accounted for separately or whether it should be bundled with other promises to be included in the application of the remaining

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Revenue from Contracts with Customers A guide to IFRS 15

www2.deloitte.com

from contracts with customers. What has changed? IFRS 15 is a complex Standard, introducing far more prescriptive requirements than were previously included in the IFRSs that it replaces (IAS 18 Revenue, IAS 11 Construction Contracts and a number of Interpretations related to those Standards) and, therefore, it may result in substantial

  Form, With, Customer, Contract, From contracts with customers

Revenue from Contracts with Customers

www.aasb.gov.au

contracts (or performance obligations) within that portfolio. When accounting for a portfolio, an entity shall use estimates and assumptions that reflect the size and composition of the portfolio. Scope 5 An entity shall apply this Standard to all contracts with customers, except the following:

  Form, With, Revenue, Customer, Contract, Revenue from contracts with customers, Contracts with customers

Revenue from Contracts with Customers

www.aasb.gov.au

Combination of contracts 17 . Contract modifications 18 – 21 . Identifying performance obligations 22 – 23 . Promises in contracts with customers 24 – 25 . Distinct goods or services 26 – 30 . Satisfaction of performance obligations 31 – 34 . Performance obligations satisfied over time 35 – …

  Form, With, Revenue, Customer, Contract, Revenue from contracts with customers, Contracts with customers

Revenue from Contracts with Customers (Topic 606)

asc.fasb.org

contracts with customers to transfer goods or services (that are an output of the entity’s ordinary activities) in exchange for consideration. What Are the Main Provisions and How Are Those an Improvement? The core principle of the guidance in Topic 606 is …

  Form, With, Revenue, Customer, Contract, Revenue from contracts with customers, Contracts with customers

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