please explain this exmple 5 of Revenue chapter IFRS 15
Recognise revenue as each performance obligation is satisfied • Handset (goods) = at * • Calls and data (services) = over 12 months *at what should handset be recognized?
We would recognise a receivable (debit) at the point of sale of the handset and recognise revenue (credit).
For the services we recognise a receivable (debit) and deferred revenue (credit) when we enter the contract and then we release this over the 12 months.