IFRS 15-penalty payable to customerForums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IFRS 15-penalty payable to customerThis topic has 1 reply, 2 voices, and was last updated 2 years ago by Stephen Widberg.Viewing 2 posts - 1 through 2 (of 2 total) AuthorPosts May 19, 2021 at 11:02 am #621043 Noah098MemberTopics: 935Replies: 352☆☆☆☆☆Sir penalty payable to a Customer for delay in the delivery of a good/service as per my exam kit is variable consideration under IFRS 15.But I considered the same situation as ‘consideration payable to a customer’ which is not in exchange for good/service.Both the exam kit and myself talk about reduction in selling price, if it becomes payable, but from different perspectivesSo would I lose marks here? May 19, 2021 at 3:43 pm #621065 Stephen WidbergKeymasterTopics: 15Replies: 3237☆☆☆☆☆No – it makes no difference at all. You have the same outcome in the financial statements.AuthorPostsViewing 2 posts - 1 through 2 (of 2 total)You must be logged in to reply to this topic.Log In Username: Password: Keep me signed in Log In