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sir, I have read again ifrs15 and I am wondering if the customer for some reason has not accepted the service provided (for simplicity, office cleaning service) then can the revenue be recognized? I am thinking that this type of revenue has been satisfied over time then revenue may be recognized during the period the service was being performed.
I read the B83-B86 about ‘Customer acceptance’ in ifrs 15 but I am not sure if they are relevant to performance obligations satisfied over time (or only relevant to p.o satisfied at one point of time)
Thank you for reading!
Hi,
If we have not performed the service then we cannot recognise the revenue, any cash received would be treated as deferred income.
Thanks
Dear sir,
Assuming that we already did the service, everything has been done (say, we finished cleaning the office). The customer just has not signed an acceptance for us which indicates that he/she agrees with the services received (for example, he/she is going somewhere abroad). So, can we recognize revenue without such acceptance?
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