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IFRS15- Revenue from Contracts

This topic has 1 reply, 2 voices, and was last updated 4 years ago by Stephen Widberg.

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September 21, 2021 at 10:01 am #636110
shanas112
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Sir,
In example 4, why is the Revenue from “Technical Support” treated as a “Liability”?
Thanks.
September 22, 2021 at 6:24 pm #636334
Stephen Widberg
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If you don’t recognise the revenue yet, you have to credit something……………so that will be a liability.
You cannot recognise the revenue for the periods for which you haven’t yet offered technical support.
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