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IFRS 15

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS 15

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by Stephen Widberg.
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  • June 19, 2020 at 10:41 am #574241
    toushiga
    Participant
    • Topics: 424
    • Replies: 171
    • ☆☆☆☆

    Sir,for 5 step model,step 1 A contract with a customer will be within the scope of IFRS 15 if all the following conditions are met: one of the criteria is the contract has commercial substance

    What is mean of a commercial substance refers here or meaning?

    Thank you.

    June 19, 2020 at 6:00 pm #574290
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3443
    • ☆☆☆☆☆

    I don’t know what to say – it just means it’s a business transaction

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