I have a question on the Credit Period and Receivable in Example 1. Is it practical that customer takes the Car and doesn't pay anything for 3 years? Wouldn't he require to pay monthly or yearly instalments or a down payment? Thus accordingly the receivable and revenue be recognized as the interest / finance amount will change.
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wgk·
Great video but I suspect that in the model answer for 'Example 4 – IFRS 15 (2)' it should read Contract Liability (as you emphasised in the lecture) rather than Deferred Income!?
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