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“In the case of the transfer of non-financial assets that are not an output of an entity’s ordinary activities, it is now required that an entity applies IFRS 15 in order to determine when to derecognise the asset and to determine the gain or loss on derecognition. This is because these transactions are more like transfers of assets to customers, rather than other asset disposals.”
It feels odd asking this, but does the above line means that disposal of tangible assets will now fall under IFRS 15 sir?
For theoretical answers
https://www.pwc.com/gx/en/services/audit-assurance/assets/revenue-from-contracts-with-customers.pdf
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