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IFRS 15 – Revenue recognition

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › IFRS 15 – Revenue recognition

Viewing 3 posts - 1 through 3 (of 3 total)
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  • February 18, 2019 at 2:25 pm #505618
    Avatarbrandonsacco
    Participant
    • Topics: 2
    • Replies: 3
    • ☆

    Hi Chris

    I was wondering on a particular scenario in cases of strange forms of inflows outside the company’s main line of business. For instance, if a company has solar panels installed on its premises, how should the ‘feed-in tariff’ be accounted for? Should it be recognized as Revenue/Other income or deducted from costs?

    Thanks in advance.

    February 18, 2019 at 4:36 pm #505650
    AvatarP2-D2
    Keymaster
    • Topics: 4
    • Replies: 7232
    • ☆☆☆☆☆

    Hi,

    If it is income from supplying energy back to the grid then this is not part of its normal operations and so would be classed as other income.

    I doubt you’d get a question on it in FR so I’d not worry too much.

    Thanks

    February 18, 2019 at 4:57 pm #505652
    Avatarbrandonsacco
    Participant
    • Topics: 2
    • Replies: 3
    • ☆

    Thanks for the prompt reply. Much appreciated.

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