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significant financing component

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › significant financing component

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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  • March 6, 2021 at 9:57 pm #613796
    humai
    Participant
    • Topics: 741
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    • ☆☆☆☆

    Hello

    What is significant financing component under IFRS 15?

    March 7, 2021 at 1:43 pm #613855
    Stephen Widberg
    Keymaster
    • Topics: 12
    • Replies: 2839
    • ☆☆☆☆☆

    Relevant when assessing the bad debt allowance for RECEIVABLES.

    Tom buys a chair from a shop for 1,000 on 30 days credit – financing component NOT SIGNIFICANT

    Mary buys an identical chair from a shop for 1,500 on 4 years ‘interest free’ credit. Interest free is of course a marketing ploy! SIGNIFICANT FINANCING COMPONENT

    So where is the dividing line? A judgement call, but more than one year’s credit is what I would go for.

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