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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS 15 indicators of control
Sir as per IFRS 15, whether all of the following conditions need to be satisfied or any of the following conditions need to be satisfied which reflects that control has been transferred
Customer has legal title
Customer has physical possession
Customer has risk and rewards of ownership
Customer has accepted the asset
Entity has right to payment
It’s a question of judgement. If most of the indicators are present it is likely
to be indicative of transfer of control.
