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Summary Mind Map for Revenue IFRS 15 $5.51   Add to cart

Summary

Summary Mind Map for Revenue IFRS 15

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IFRS 15 Revenue Recognition Formulae Sheet provides a concise guide to the key steps and calculations for recognizing revenue under IFRS 15, including: Five-Step Model: Identify the contract. Identify performance obligations. Determine the transaction price. Allocate the transaction price to...

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  • September 15, 2024
  • 2
  • 2024/2025
  • Summary
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Summary key points

approved by both
parties (agreement)

Commercial substance
① Contract

Probable collection of
goods or services




element
Separate
② Performance obligations Customer benefit from
on its ow n
can
good or service




distinct

Promise to transfer identifiable
separately
is




Not used to modify or customise
Not significantly
another
good or service
integrated



Not
highly interrelated
with another good

Amount expecting
to


be entitled to



③ Transaction Excludes for
price
collected 3rd
amounts
parties
Variable Considerations




Sale with
right Significant financing
of return TVM (Interest expense Income)
component
.




Trade andSettlement discounts
b b ↑




Immediately Net Revenue to amount entitled
to .




Recognize allowance for Sp

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