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Hi can you tell me how to account for mobile phone contracts when the initial handset is free and you pay monthly cost for minutes and Internet?
question i am stuck on:
Promotion for non cancellable contract £30 a month for 12m this includes new handset, network access and 500 free minutes.
Normal retail price of handset is £250, minutes £10 month and network access £5 month
Thanks in advance
I suppose (and, without much more detailed information, I don’t know) there is a need to allocate the overall revenue on the basis of usage.
A non-cancellable up-front payment would be recognised immediately wheat a monthly charge would be allocated ove the appropriate months.
Does that answer it?
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