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technical article: revenue revisited, doubt 2

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › technical article: revenue revisited, doubt 2

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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  • June 27, 2021 at 2:36 pm #626466
    Noah098
    Member
    • Topics: 935
    • Replies: 352
    • ☆☆☆☆☆

    “In other cases, it could be difficult to determine whether a significant financing component exists. This is likely to be the case where there are long-term arrangements with multiple performance obligations such that goods or services are delivered and cash payments received throughout the arrangement. For example, if an advance payment is required for business purposes to obtain a longer-term contract, then the entity may conclude that a significant financing obligation does not exist.”

    Sir i just didn’t understand why in case of the above example where an advance is paid to obtain a longer-term contract is there no financing component?

    June 27, 2021 at 3:23 pm #626476
    Stephen Widberg
    Keymaster
    • Topics: 12
    • Replies: 2843
    • ☆☆☆☆☆

    Please refer to my other reply. I have no idea who is paying who in the paragraph quoted.

    https://www.iasplus.com/en/standards/ifrs/ifrs15

    If you are interested in the theory.

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