- This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
- You must be logged in to reply to this topic.
My question to you is that when would a travel agency recognize its revenue?
When the customer books his tickets for a particular trip or when the trip has been completed by him.
As per IFRS 15, when does the performance obligation discharges under this case?
Gut feeling – the service is to find a customer for the airline – if that is when you are entitled to the commission. My role is to find the customer not fly the plane.
May be reduced if, for example, there are cancellation rights which would impact on our commission.