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June 24, 2020 at 11:40 pm
Hiya, In the last example why didnt we took stand alone of £240 plus £45 per month charges rather than £20 for allocation purposes?
=240+540=780 and allocated
1) 240/780*540=166 2)540/780*540=374
April 5, 2020 at 10:37 pm
when you are going to upload lecture on contract cost.
June 9, 2020 at 9:21 am
You’re getting access to the service for free, don’t rush them. Besides you should be buying a book to supplement this study anyway.
March 3, 2020 at 1:12 pm
Hello Sir, In part 4 ( Allocation of transaction price) , if the entity does not sell repair and maintenance service separately, will the transaction price of $10,000 be spread between two years?
August 15, 2019 at 5:59 pm
Sir the lectures are very great, but the examples and few contents which you are explaining are not in notes so what to do?
Thanks in advance
May 11, 2019 at 4:00 pm
Regarding to the answer for Example 4 on the financial statement part, why is it $100 in non-current liabilities and $200 in current liabilities?
April 20, 2019 at 9:14 pm
My question is regarding the Luckers co example.
So we have recognized 8 638$ as revenue in the year of sale,
So i assume the JE would be:
Dr Receivables 8 638 Cr Revenue 8 638
and the remaining will be interest income added to the receivables in the next three years
But are we not supposed to classify revenue as receivables only in case they are receivable within 1 years time? In this case we will receive it only after 3 years. Could you tell me then why we are classifying this as a receivable ?
May 12, 2019 at 6:19 pm
the 8638 is discounted to present value and so to recognise the sale of the car which has happened because the control aspect has been transferred to the customer and so the value of the car at present moment in time would be 8638 to be recognised as revenue
April 12, 2019 at 12:36 am
For the last example (Telephonica) : Shouldn’t the transaction price be the $540 (12 x $45) as step 4 asked you to allocate the transaction price to each performance obligation, which you have allocated $270 each, totalling $540?
If you’re saying in step 3 that $480 is the transaction price, then why are you allocating a total of $540 to the performance obligations?
March 20, 2019 at 2:32 pm
Hi there, thanks for the lecture, nice and simply put. Please explain how we arrived at the 480 and why we are using figures from Telephonica and Vodafone in the same calculations. I thought they were two different companies each dealing with their customers and should have been accounted for differently.
March 24, 2019 at 10:24 pm
I think Vodaphone is just used as a comparable company in order to estimate the separate prices of the 2 performance obligations.
February 5, 2019 at 10:25 am
In the lecture notes there are additional notes not included in the lecture. Why is that?
November 14, 2018 at 2:59 pm
Hi there, Thanks for excellent lectures. However, IFRS 15 also includes contract costs as well. will there be any lecture on contract costs.
November 14, 2018 at 7:58 pm
Glad you’ve enjoyed the lectures, thanks. There isn’t anything at the moment but it is on my to do list and once done I’ll let you know.
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