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REVENUE FROM CONTRACTS WITH CUSTOMERS (IFRS 15)

This class was created by Brainscape user Angelo Agnello. Visit their profile to learn more about the creator.

By: Angelo Agnello
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Decks in this class (9)

OVERALL APPROACH AND FUNDAMENTAL PRINCIPLE
To which contracts with customers...,
What is the core principle of ifr...,
Wh
4  cards
STEP 1. IDENTIFY THE CONTRACT
How to identify a contract with c...,
What is a combining contracts how...,
What are contract modifications
5  cards
STEP 2. IDENTIFY SEPARATE PERFORMANCE OBLIGATIONS
What is a performance obligation def,
What is a distinct good or service
2  cards
STEP 3. DETERMINE TRANSACTION PRICE
What is the transaction price,
From what the specific considerat...,
What is the customer s credit risk
16  cards
STEP 4. ALLOCATE TRANSACTION PRICE TO PERFORMANCE OBLICATIONS
How is allocated the transaction ...,
What is the stand alone selling p...,
How are the discounts allocated
3  cards
STEP 5. RECOGNISE REVENUE WHEN PERFORMANCE OBLIGTION IS SATISFIES
When is revenue recognised,
Whec satisfaction of each perform...,
When is allowed to recognise reve...
3  cards
CONTRACT COSTS
How is recognised the incremental...,
How are recognised costs that wou...,
When an entity shall recognise an...
3  cards
WARRANTIES
Which are the types of warranties,
How are the different types of wa...
2  cards
SALES AND USAGE BASED ROYALTIES
What are sales and usage based ro...,
How are sales and usage based roy...
2  cards

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REVENUE FROM CONTRACTS WITH CUSTOMERS (IFRS 15)

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