IFRS 15 Contract LiabilityForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS 15 Contract LiabilityThis topic has 1 reply, 2 voices, and was last updated 4 years ago by Stephen Widberg.Viewing 2 posts - 1 through 2 (of 2 total)AuthorPosts October 30, 2020 at 4:03 pm #593561 bananabuddyMemberTopics: 14Replies: 13☆Hi, is contract liability the same as deferred income? Can i use those terms interchangeably under the IFRS 15 standard?If not, what are the differences between the two? thank you in advance! October 31, 2020 at 8:29 am #593610 Stephen WidbergKeymasterTopics: 15Replies: 3355☆☆☆☆☆They are effectively the same. Probably preferable to use contract liability if you are discussing revenue.AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In