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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 2 months ago by Stephen Widberg.
Viewing 2 posts - 1 through 2 (of 2 total)
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    Posts
  • June 8, 2022 at 12:55 pm #657923
    syedmushahid
    • Topics: 19
    • Replies: 37
    • ☆☆

    Hi Stephen

    Can you please advise how to deal with below
    Company A SELLS hardware,repair and maintaince and software support

    Hardware is sold for 3m$ and repair and maintainance for 1M$ and software support only sells occasionally for 0.5M$

    How revenue will be recognised to below options

    Option 1
    Company A can sell hardware and maintainance for 3.5M$ where hardware is the integral to the contract

    Option 2
    Company A sells for 3.7M$ which covers hardware. And maintaince with software support

    Option 3 COMPANY A sells for 3.8M$ where harware and maintaince are integral part of the contract

    Please advise
    Kind regards
    Syed raza

    June 11, 2022 at 11:13 am #658464
    Stephen Widberg
    Moderator
    • Topics: 10
    • Replies: 2557
    • ☆☆☆☆☆

    Decide which performance obligations are separate. Then allocate revenue based on standalone selling prices.

    It may be worth you watching our revenue recognition lecture again.

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