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IFRS 15

Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › IFRS 15

  • This topic has 0 replies, 1 voice, and was last updated 6 years ago by economist95.
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  • March 13, 2019 at 8:39 am #509226
    economist95
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    • Topics: 3
    • Replies: 2
    • ☆

    Dear Tutor,

    I have question needs to be clarified. So, the question is as follows:

    The entity was entered into the contract with a company operating in a developing country. There was a sudden change in the economy and entity now assumes that it will receive 70% of consideration (Assuming consideration is 1000) shown in the contract. How much revenue must be recorded?

    I am asking for clarification of an issue based on IFRS 15.

    Hope that I have expressed my trouble clearly.

    Thank you in advance!

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