Revenue Revisited (ACCA articles)

“Finally, it should be probable that the entity will collect the consideration due under the contract. An assessment of a customer’s credit risk is an important element in deciding whether a contract has validity, but customer credit risk does not affect the measurement or presentation of revenue. The consideration may be different to the contract price because of discounts and bonus offerings.

The entity should assess the ability of the customer to pay and the customer’s intention to pay the consideration. In cases where the contract does not meet the criteria for recognition as a contract according to IFRS 15, the consideration received should only be recognised as revenue when the contract is either complete or cancelled, or until the contract meets all of the criteria for recognition.”

Questions:-
1. Does this means that if a customer is inability to repay for the services already rendered, the service provider is not allow to recognise the revenue for the service already provided to the customer?
2. Since the revenue should be reversed out and yet the current year tax would still required to be provided?

Thanks